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Oracle 1z0-1056-22 Certification Exam is designed for professionals who are looking to validate their expertise in implementing the Oracle Financials Cloud: Receivables 2022. Oracle Financials Cloud: Receivables 2022 Implementation Professional certification exam is aimed at individuals who have a strong working knowledge of the Oracle Receivables application and are seeking to enhance their career prospects in this field.
NEW QUESTION # 83
Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)
- A. Average
- B. Compound
- C. Simple
- D. Declining Balance
- E. Flat Rate
Answer: B,C,E
NEW QUESTION # 84
What is required to register an external user to Bill Management?
- A. a customer account contact with a valid email address
- B. a customer account contact with a valid mailing address
- C. a customer account contact with the responsibility types bill to and ship-to
- D. a customer account contact with a valid mobile number
Answer: C
NEW QUESTION # 85
Which predefined dunning letter template is available in the Collections application
- A. Soft, Medium, Hard, Final
- B. Regular, Medium, Hard, Easy
- C. Regular, Medium, Hard, Difficult
- D. Soft, Regular, Medium, Hard
Answer: A
NEW QUESTION # 86
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?
- A. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
- B. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- C. You can select only a Closed accounting period.
- D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: A
NEW QUESTION # 87
You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date = 14-Feb-2020, Discount Grace Days = 5.
Which transaction will be applied to the receipt?
- A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
- B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
- C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
- D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020
Answer: B
NEW QUESTION # 88
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 Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
- B. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
- C. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- D. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
Answer: A
NEW QUESTION # 89
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).
Answer: D
NEW QUESTION # 90
You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
What are the navigational steps needed to accomplish this task?
- A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
- B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
- C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
- D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
Answer: A
NEW QUESTION # 91
The Business Intelligence repository contains metadata that defines columns, which you can include in an analysis.
Which three types of columns are available when you create or edit an analysis? (Choose three.)
- A. Fact
- B. Attribute
- C. Function
- D. Hierarchy
- E. Sum
Answer: A,B,D
NEW QUESTION # 92
You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for the import failure.
- A. an inactive Journal Entry Rule Set
- B. an inactive Journal Line Type
- C. an inactive Mapping Set
- D. an inactive Accounting Method
Answer: C
NEW QUESTION # 93
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. customer search as per the parameter specified
- B. summary of aged transactions
- C. tasks assigned to the Collector, such as follow-up calls
- D. status of processing activities from the Process Monitor
- E. customer's profile for each assigned customer
Answer: C
NEW QUESTION # 94
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
- A. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
- C. Delete the source data that was imported into Revenue Management and import new source data.
- D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
- E. Delete Contracts from the Manage Customer Contracts UI.
Answer: D
NEW QUESTION # 95
As a consultant, you have built the following Scoring model in Advanced Collections:
If a customer has 10 past due transactions and an amount overdue of $125, what is the calculated score?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: C
NEW QUESTION # 96
Which statement is true about Balance Forward Billing?
- A. Balance Forward Bills must be enabled at each bill-to-site level.
- B. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
- C. Balance Forward Bills can be created for a future date.
- D. Transactions included on a Balance Forward Bill can be updated.
Answer: A
NEW QUESTION # 97
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
- A. short-term debt clearing days
- B. lead days
- C. collection days
- D. recall days
- E. risk elimination days
- F. clearing days
Answer: A
NEW QUESTION # 98
Which three transaction types are used to generate late charges? (Choose three.)
- A. Interest Invoice
- B. Debit Memo
- C. Credit Memo
- D. Cash Receipts
- E. Adjustments against the original transaction
Answer: A,C,E
Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm
NEW QUESTION # 99
You are defining a new receipt class to process manual customer payments and plan to use reconciliation accounting in Cash Management.
Which two clearance methods enable you to match and clear transactions in Cash Management? (Choose two.)
- A. by factoring
- B. Directly
- C. by Conformation
- D. by Automatic Clearing
- E. by matching
Answer: D,E
NEW QUESTION # 100
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Oracle Financials Cloud: Receivables 2022 Implementation Professional (1z0-1056-22) is a certification exam that measures the knowledge and skills of the candidates in implementing and configuring Oracle Financials Cloud: Receivables 2022. 1z0-1056-22 exam is designed to test the expertise of individuals in managing the accounts receivable process, creating and managing invoices, managing revenue and taxes, and managing bills receivable. 1z0-1056-22 exam is intended for professionals who are responsible for implementing and managing the financials of an organization.
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