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Exam Oracle Financials Cloud: Receivables 2020 Implementation Essentials
Number 1Z0-1056-20
File Name Oracle Financials Cloud-Receivables 2020 Implementation Essentials.PremDumps.1Z0-1056-20.2020-12-22.1e.35q.vcex
Size 24 Kb
Posted December 22, 2020
Downloads 46



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Demo Questions

Question 1
You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.  
Which two conditions are failing? (Choose two.)

  • A: Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.
  • B: The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.
  • C: Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.
  • D: The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.
  • E: Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.
  • F: The customer does not have the default strategy and default collector assigned at the customer account and site level. 



Question 2
You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%.  
The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.  
How would you achieve this?

  • A: Set the credit classification revenue recognition policy to look for Line First and Tax Later.
  • B: Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
  • C: Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
  • D: Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
  • E: Set the payment terms revenue recognition policy to look for Line First and Tax Later.



Question 3
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?

  • A: manually, but without using the Adjustment Reversal and Chargeback Reversal activities
  • B: automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
  • C: automatically by using the Adjustment Reversal and Chargeback Reversal activities
  • D: manually by using Chargeback Reversal activities
  • E: manually by using Adjustment Reversal activities



Question 4
In what three ways will changing customer information impact the collection process? (Choose three.)

  • A: Changing information on the Profile tab does not have an impact on the level at which collections are done.
  • B: Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
  • C: Making changes on the Profile tab impacts the collection process.
  • D: Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
  • E: Changing the Collector impacts the individual working with the delinquent customer.



Question 5
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms. 
Payment Term = Net 30; Reference Data Set = Enterprise Set Payment Term = Net 45; Reference Data Set = Enterprise Set Payment Term = 1%/10 Net 30; Reference Data Set = USA 
Set Payment Term = Net 45; Reference Data Set = USA Set If an invoice is created in Business Unit X, which payment term set is available for use in a transaction? 

  • A: Net 45 (Enterprise Set), Net 45 (USA Set)
  • B: Net 30 (Enterprise Set), Net 45 (Enterprise Set)
  • C: Net 30 (Enterprise Set), Net 45 (USA Set)
  • D: 1%/10 Net 30 (USA Set), Net 45 (USA Set)



Question 6
Where is the summary delinquency data displayed on the Collections Dashboard?

  • A: Activity tab
  • B: Correspondence tab
  • C: Profile tab
  • D: Aging tab



Question 7
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?

  • A: the extended SSP amounts for all performance obligations in the customer contract
  • B: the SSP amounts for all performance obligations in the customer contract
  • C: the selling price for all performance obligations in the customer contract
  • D: the allocated amount for all performance obligations in the customer contract
  • E: the billing amount for all performance obligations in the customer contract



Question 8
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  • A: A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector. 
  • B: Only a Collections Administrator can modify the strategy.
  • C: The Collector can modify the strategy from the Profile > Strategies tab.
  • D: The strategy can be modified from the Manage Customers page.



Question 9
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)

  • A: Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
  • B: The payable options and the receivable system options should have the same tax application options.
  • C: Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
  • D: First enter a payable transaction to calculate tax and then enter the receivable transaction.
  • E: Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
  • F: Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.



Question 10
Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account. 
Which option would you use to achieve this with the help of the Subledger Accounting solution?

  • A: Mapping Set
  • B: Supporting References
  • C: Transaction References
  • D: Description Rule








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