1Z0-1056-23 Online Practice Questions and Answers

One of the customers pays its bills electronically from their bank account (Direct debit).

Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to yourorganization's bank account?

A. Clear Receipts Automatically Process

B. Remittance Process

C. Automatic Receipt Process

D. Lockbox Process

In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for performance obligations over time? (Choose two.)

A. by setting SM to "Requires Complete" and SMM to "Period"

B. by setting SM to "Allow Partial" and SMM to "Percent"

C. by setting SM to "Allow Partial" and SMM to "Period"

D. by setting SM to "Requires Complete" and SMM to "Quantity"

E. by setting SM to "Requires Complete" and SMM to "Percent"

What are three functions of the Create AutomaticReceipt Write-offs program? (Choose three.)

A. creating write-offs for specific currencies and customers

B. limiting write-offs by a percentage of the original receipt amount

C. scheduling periodic write-offs as receipt adjustments for small remaining balances

D. scheduling periodic write-offs as receipt adjustments for old remaining balances

E. scheduling periodic write-offs to occur in future periods

Which three transaction types are used to generate late charges? (Choose three.)

A. CashReceipts

B. Adjustments against the original transaction

C. Credit Memo

D. Debit Memo

E. Interest Invoice

To determine the best approach to converting aclient's data, you must know which setups are Reference: Data Set enabled and can be shared.

Which three are Reference: Data Set enabled setups in Receivables? (Choose three.)

A. Revenue Contingencies

B. Receivables Activities

C. Customer Account Sites

D. Standard Memo Lines

E. Revenue Transactions

Your customer has three business units. The customer wants to share customer account addresses across these business units.

Which reference data set can be used to achieve this?

A. Create a new reference data set for account addresses andassign it to the business units.

B. Assign a COMMON reference data set to the business units, which share the account addresses.

C. Assign an enterprise reference data set to the business units, which share the account addresses.

D. Create a separate reference data set for each business unit and assign it to each unit.

What validation step is required for implementing dispute processing?

A. The Recognize Revenue Program is scheduled.

B. BPM Work List for approval configuration is validated.

C. Periods for which the transaction can be disputedare Open.

D. All transactions are of the invoice type.

Which configuration step is required for processing Collections disputes?

A. Define Aging Method to be used with disputed transactions.

B. Define Dispute Thresholds in Collections Preferences.

C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.

D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.

In Collections, strategies can be executed based on the wait times defined on a strategy task. When the feature is enabled, you can also assign wait times for strategies based on their transaction type. Which condition must be set for the transaction level when defining a new strategy task by transaction type?

A. Days Early

B. Time

C. DaysLate

D. Not Applicable

Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.

Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

A. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.

B. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.

C. Select Portal Upload as a delivery method on Customer Profile under Invoicing.

D. Run the Create Customer Statement process in Scheduled Processes.

E. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.