[2021.8 Updated] Valid Lead4Pass Oracle 1Z0-1056-20 exam questions with VCE and PDF download

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Latest update Oracle 1Z0-1056-20 exam questions and answers online practice test

QUESTION 1
What information does the Collector see in the Activities List area of the Collections Dashboard?
A. customer\\’s profile for each assigned customer
B. customer search as per the parameter specified
C. status of processing activities from the Process Monitor
D. tasks assigned to the Collector, such as follow-up calls
E. summary of aged transactions
Correct Answer: D

 

QUESTION 2
You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the
second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are
assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per
customer, and the bills receivable maturity date rule set to latest. Which statement is true when the create bills
receivable batch is processed for a customer on January 31, 2015?
A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
C. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
D. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
E. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
F. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and
January 31, 2015, respectively.
Correct Answer: D

 

QUESTION 3
Which two are rules applicable to issue of refunds? (Choose two.)
A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
B. You can refund receipts that were either remitted or cleared.
C. You can issue a credit card refund to a customer who has made a cash payment.
D. You can refund receipts that are factored.
Correct Answer: AB

 

QUESTION 4
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
A. Lockbox Transmission History
B. Create Automatic Receipts
C. Correct Funds Transfer Errors
D. Create Receipt Remittance Batch
E. Manage Receipt Remittance Batches
Correct Answer: BDE

 

QUESTION 5
Which two statements are true about processing Receivables adjustments that impact tax amounts?
A. Receivables can look at invoice and retrieve the tax rate code.
B. There is no need to retrieve the tax rate code.
C. Receivables can look at the adjustment activity and retrieve the tax rate code.
D. Receivables can look at System Options and retrieve the tax rate code.
Correct Answer: AD

 

QUESTION 6
Your client performs many customer refunds and would like to search for real-time Receivables Refunds
Status easily.
What should you do to meet this requirement?
A. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
B. Create an Oracle Business Intelligence Applications (OBIA) Report.
C. Query each customer refund and verify the Refund Status.
D. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
Correct Answer: D


QUESTION 7
Where is the summary delinquency data displayed on the Collections Dashboard?
A. Activity tab
B. Correspondence tab
C. Profile tab
D. Aging tab
Correct Answer: C

 

QUESTION 8
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
A. Import Payables Invoices Duty
B. Receipt Creation Duty
C. Trading Community Hierarchy Management Duty
D. Payment Settlement Management Duty
Correct Answer: AD

 

QUESTION 9
Which three transaction types are used to generate late charges? (Choose three.)
A. Cash Receipts
B. Adjustments against the original transaction
C. Credit Memo
D. Debit Memo
E. Interest Invoice
Correct Answer: BCE
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

 

QUESTION 10
The process of remitting receipts to a bank results in fund transfer errors. Identify three corrective actions to resolve this.
(Choose three.)
A. receipt reversal
B. clearing payment information
C. credit reversal
D. debit memo reversal
E. change of instrument
Correct Answer: ABE

 

QUESTION 11
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment
solution to an existing customer.
Which feature is not supported in Bill Management?
A. Making payments by using a credit card or the bank account
B. Managing unapplied payments
C. Managing credit memos
D. Reviewing customer account balances
E. Managing disputes
Correct Answer: A

 

QUESTION 12
Which two statements are true about configuring Collection Strategies?
A. You need to create Scoring Formulae (or use predefined Scoring Formulas).
B. You need to define an Aging Method that meets the requirements of your organization.
C. You need to SGI the (Collections Method to Strategies for the relevant business unit.
D. You need to create Strategy Tasks of the type “Automatic” only.
Correct Answer: AD

 

QUESTION 13
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or
greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
A. Set “Minimum Transaction Amount” to 3,000 and “Minimum entered Currency” to USD.
B. Set “Minimum Transaction Amount” to 2,999.99 and “Minimum Entered Currency” to ALL
C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum
amount requirement.
D. Set “Minimum Invoice Amount” to 3,000 and “Invoice Currency” to USD in Payables Invoice Options and Receivables
System Options.
Correct Answer: D


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