2024 New 1z0-1056-23 Exam Questions Real Oracle Dumps
Course 2024 1z0-1056-23 Test Prep Training Practice Exam Download
NEW QUESTION # 12
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. Not Applicable
- B. Days Early
- C. DaysLate
- D. Time
Answer: C
Explanation:
Explanation
This is the condition that must be set for the transaction level when defining a new strategy task by transaction type. DaysLate is the number of days that a transaction is past due. You can use this condition to execute strategies based on how overdue a transaction is. Verified References: [How You Define Strategy Tasks by Transaction Type - Oracle]
NEW QUESTION # 13
Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Create Receipt Method. where:
* Name of the new receipt method is XXCheck (Replace XX with 03. which is your allocated User ID.)
* Receipt method must be effective as of January 1. 2023
Answer:
Explanation:
See the explanation below for solution.
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Receipt Methods icon in the Receivables work area.
* Click on the Create button.
* In the Receipt Method window, enter the following information:
* Name: XXCheck (Replace XX with your allocated user ID.)
* Effective Date: January 1, 2023
* Receipt Class: XXReceipt Class (The receipt class that you created in the previous step.)
* Bank Account: The bank account that will be used to clear receipts for this receipt method.
* Click on the Save button.
The new receipt method will be created.
NEW QUESTION # 14
Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment.
When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?
- A. Process Receipts through Lockbox
- B. Process Lockbox Receipts
- C. Process Receipts and Remittances through Lockbox
- D. Process Lockbox Receipts and Remittance References
Answer: B
Explanation:
Explanation
This process is used to process lockbox receipts with invalid transaction references when you enable the Create Claims Investigation option in Receivables System Options. References: [How You Process Lockbox Receipts - Oracle]
NEW QUESTION # 15
Which three receipt types can be reversed in the Cloud?
- A. Receipts that are archived
- B. Receipts applied to open receipts
- C. Miscellaneous receipts
- D. Credit card chargebacks posted to GL
- E. Invoice-related receipts
Answer: C,D,E
Explanation:
Explanation
These are the three receipt types that can be reversed in the Cloud. Receipts applied to open receipts and receipts that are archived cannot be reversed. Verified References: [How You Reverse Receipts - Oracle]
Topic 1, Performance Based Questions
"Member Insights"
"Transaction Analysis"
Confirm the Oracle Applications Cloud Version
Note: The Oracle Applications Cloud environment might take some time to launch.
1. Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.
2. Click on About This Application in the Settings and Actions menu.
3. Copy the complete version number from the About this Application
pop-up in the Oracle Application Cloud window.
4. Paste the version number in the box below.
5. Click Confirm.
NEW QUESTION # 16
You are asked to amend subledger accounting and reporting to include origin and history of Receivable transactions.
Which three event attributes should be used?
- A. Transaction created by
- B. Transaction last update date
- C. Transaction number of amendments
- D. Transaction type of update
- E. Transaction creation date
Answer: B,C,D
Explanation:
Explanation
These are the three event attributes that can be used to identify the origin and history of Receivable transactions. They capture the information about the changes made to the transactions, such as the transaction number, the type of update (create, update, delete), and the date of the last update. Verified References: [How You Define Event Attributes - Oracle]
NEW QUESTION # 17
You are an IT contractor for a client who wants to increase internal controls on bank accounts set up in the Cash Management application. According to their new policy, a Cash Manager s ability to add. review, or make changes to bank accounts must be regionalized and restricted by their org structure.
Which statement is true about the restrictions applied to the setup?
- A. Cash Managers can create and manage bank accounts for only those business units to which they are given access.
- B. Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.
- C. Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.
- D. Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access.
Answer: B
Explanation:
Explanation
This is the true statement about the restrictions applied to the setup. Cash Managers can access bank accounts based on their legal entity access privileges. They can create and manage bank accounts for only those legal entities that they are authorized to access. Verified References: [How You Manage Bank Accounts - Oracle]
NEW QUESTION # 18
You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:
What revenue amount would be deferred on this Imported Invoice?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: B
Explanation:
Explanation
This is the revenue amount that would be deferred on this imported invoice. The Payment Terms Threshold Policy defers revenue recognition of 120 days, which means that only the first two installments (1000 and
4000) are within the threshold and can be recognized as revenue. The remaining three installments (1000,
2000, and 2000) are beyond the threshold and must be deferred until they are due. Verified References: [How You Manage Revenue Recognition - Oracle]
NEW QUESTION # 19
In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.
At which details?
- A. Party
- B. Customer
- C. Account
- D. Site
- E. Site Address
- F. Organization
Answer: D
Explanation:
Explanation
This is the level at which you can use the Age of Latest Payment data point to determine the number of days passed since the last payment was received from a customer. The Age of Latest Payment data point is calculated at the account level and shows the age of the most recent payment for each customer account.
Verified References: [How You Define Scoring Components - Oracle]
NEW QUESTION # 20
When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?
- A. Credit Limit
- B. Credit Review Cycle
- C. First Review Date
- D. Order line Credit Limit
Answer: B,C
Explanation:
Explanation
These are the two columns that, if populated with *NULL, will remove the existing values on loading. They are part of the customer profile class attributes that can be updated using customer import. Verified References: [How You Manage Customer Data Uploads - Oracle]
NEW QUESTION # 21
Manage Collectors
Scenario:
You are responsible for defining a new collector. who will perform collection activities across multiple business units.
Task:
Create a new Collector. where:
* Name of the collector is (Replace XX with 03. which is your allocated User ID.)
* Collector must be available to all business units.
* Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)
Answer:
Explanation:
See the explanation below for solution.
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Collectors icon in the Receivables work area.
* Click on the Create button.
* In the Collector window, enter the following information:
* Name: XXCollector (Replace XX with your allocated user ID.)
* Type: Employee
* Employee: FASXX03 (Replace xx with your allocated user ID.)
* Available to All Business Units: Yes
* Click on the Save button.
The new collector will be created.
NEW QUESTION # 22
You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.
When assigning the tax regime to parties, what should you do to share all setup for Tax?
- A. Assign the ledger to Global Configuration Owner.
- B. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.
- C. Assign two business units to First Party Configuration with Party Overrides.
- D. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.
- E. Assign both business units to Global Configuration Owner.
Answer: A
Explanation:
Explanation
This is the best option to share all setup for Tax when the tax regulations are common between the legal entities. The ledger is the highest level of party hierarchy and can be assigned as the Global Configuration Owner to share the tax regime, tax rates, and tax rules across all parties under it. Verified References: [How You Assign Tax Regimes to Parties - Oracle]
NEW QUESTION # 23
it has been decided that when processing customer payments using lockbox one customer can pay for another customer's transaction.
Which two steps will help achieve this?
- A. Define a relationship between the two customer accounts.
- B. Define and share a cash pool bank account between the customers.
- C. Define a business purpose of invoice to each customer address.
- D. Define a netting agreement between the two customer accounts.
- E. Select the Allow payment of unrelated transactions Receivables System Option.
Answer: A,E
Explanation:
Explanation
These are the two steps that will help achieve this requirement. The Allow payment of unrelated transactions Receivables System Option enables one customer to pay for another customer's transaction using lockbox.
The relationship between the two customer accounts defines how payments are applied across different customers. Verified References: [How You Process Lockbox Receipts - Oracle]
NEW QUESTION # 24
Which flexfields does Autolnvoice require to identify transactions and transaction lines, if you load the interface using a customized form?
- A. Line-level transaction flexfield and Header-level transaction flexfield
- B. Line-level transaction flexfield, Invoice transaction flexfield. Reference flexfield. and Link to transaction flexfield
- C. Line-level transaction flexfield. Header-level transaction flexfield. and Link to transaction flexfield
- D. Line-level transaction flexfield. Header-level transaction flexfield. and Reference flexfield
Answer: A
Explanation:
Explanation
These are the two flexfields that AutoInvoice requires to identify transactions and transaction lines, if you load the interface using a customized form. They are used to group transaction lines into transactions and assign transaction attributes. Verified References: [How You Define AutoInvoice Grouping Rules - Oracle]
NEW QUESTION # 25
You are investigating the Receivables to General Ledger Reconciliation report and must explain any variances to your Accounting Manager.
What two variance amounts should you expect to investigate in this report?
- A. Intercompany Variance
- B. Accounting Variance
- C. Tax Variance
- D. Receivables Variance
Answer: B,D
Explanation:
Explanation
These are the two variance amounts that you should expect to investigate in the Receivables to General Ledger Reconciliation report. Accounting variance is the difference between the subledger journal entries and the general ledger journal entries. Receivables variance is the difference between the subledger balances and the general ledger balances. Verified References: [How You Reconcile Receivables to General Ledger - Oracle]
NEW QUESTION # 26
......
Oracle 1z0-1056-23 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
1z0-1056-23 Exam Info and Free Practice Test Professional Quiz Study Materials: https://www.dumpsreview.com/1z0-1056-23-exam-dumps-review.html
Accurate Hot Selling 1z0-1056-23 Exam Dumps 2024 Newly Released: https://drive.google.com/open?id=1z_kLKV51fk4DEeTJlQ8v4P8ZRbzLi34R
