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NEW QUESTION 53
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 your organization's bank account?
- A. Remittance Process
- B. Automatic Receipt Process
- C. Lockbox Process
- D. Clear Receipts Automatically Process
Answer: A
NEW QUESTION 54
You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)
- A. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
- B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
- C. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
- D. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
- E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
Answer: A,E
Explanation:
For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.
References:
NEW QUESTION 55
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)
- A. an inventory item
- B. a debit memo line
- C. a purchasing item
- D. a standard memo line
- E. a credit memo line
Answer: A,D
Explanation:
References:
NEW QUESTION 56
Where is the summary delinquency data displayed on the Collections Dashboard?
- A. Correspondence tab
- B. Activity tab
- C. Profile tab
- D. Aging tab
Answer: C
Explanation:
References:
NEW QUESTION 57
Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)
- A. Unidentified Receipts
- B. Unapplied Receipts
- C. Unapplied Credits
- D. Receipt Batches
- E. Activities
Answer: B,C,D
NEW QUESTION 58
What are the two places where Receivables can look for the "Match Receipts By" setting when applying manual customer receipts? (Choose two.)
- A. Customer
- B. Profile option
- C. Receipt Method
- D. AutoMatch Rule
- E. System Options
Answer: C,E
NEW QUESTION 59
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?
- A. The Collector can modify the strategy from the Profile > Strategies tab.
- B. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
- C. The strategy can be modified from the Manage Customers page.
- D. Only a Collections Administrator can modify the strategy.
Answer: B
NEW QUESTION 60
When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments.
Which receipt rule should you define?
- A. One per site per due date
- B. One per invoice
- C. One per Customer per due date
- D. One per Customer
Answer: B
NEW QUESTION 61
When entering the values in the natural account spreadsheet of the rapid implementation for General Ledger workbook, which three accounts types are used to set up the default Receivable account combinations?
(Choose three.)
- A. Liability- Unearned revenue
- B. Revenue- Revenue
- C. Liability-Accounts Payable
- D. Owner's equity
- E. Asset - Remitted Receipts
Answer: C,D,E
NEW QUESTION 62
After a customer bankruptcy is approved, what happens in the Collections application?
- A. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
- B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
- C. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- D. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
Answer: A
NEW QUESTION 63
Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?
- A. Receipts with unapplied amounts.
- B. Miscellaneous receipts.
- C. Receipts created from a lockbox and uploaded.
- D. Receipts created in a spreadsheet and uploaded.
- E. Receipts that are manually created.
Answer: C,D,E
NEW QUESTION 64
ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegian krone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.
Where should you define the header-level rounding account?
- A. Receivable System Option
- B. Customer Account Level
- C. Transaction Type
- D. Transaction Source
- E. Customer Site Level
Answer: D
NEW QUESTION 65
Which statement is true about Balance Forward Billing?
- A. Transactions included on a Balance Forward Bill can be updated.
- B. Balance Forward Bills must be enabled at each bill-to-site level.
- C. Balance Forward Bills can be created for a future date.
- D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
Answer: B
Explanation:
References:
NEW QUESTION 66
Which predefined dunning letter template is available in the Collections application
- A. Soft, Regular, Medium, Hard
- B. Soft, Medium, Hard, Final
- C. Regular, Medium, Hard, Easy
- D. Regular, Medium, Hard, Difficult
Answer: B
NEW QUESTION 67
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- C. You need to submit the Extract Intercompany Reconciliation Data job.
- D. The Transaction Summary Report shows only transactions with a status of received.
- E. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
Answer: A,E
Explanation:
References:
NEW QUESTION 68
The auto-invoice program fails to complete. Subsequently, you notice a message in the log file regarding insufficient memory for processing.
To resolve this issue, by what factor should you multiply the maximum number of imported records (rounded to the nearest whole number)?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: A
NEW QUESTION 69
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