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Question 1:

Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level. How will bills be generated?

A. Sites 1, 2, and 3 activities will be included in a single bill.

B. Sites 2 and 3 activities will be included in a single bill.

C. Sites 1 and 2 activities will be included in a single bill.

D. Sites 1 and 3 activities will be included in a single bill.

Correct Answer: C


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:

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.

Correct Answer: BC


Question 4:

Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

A. Verify Customer Payments.

B. Assign a Collector to a delinquent customer.

C. View the Total Amount Due for delinquent customers.

D. Record an activity to create a task or tasks to follow up on a delinquent customer.

E. Update the work status of a work item for a delinquent customer.

Correct Answer: BDE


Question 5:

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.

Correct Answer: C


Question 6:

Which two items are required for customer invoicing? (Choose two.)

A. Lockbox

B. Customers

C. Remit-to-address

D. Customer Profile Class

Correct Answer: AD


Question 7:

Which two determinant types are used in reference data assignment? (Choose two.)

A. Business Unit

B. Account Segment

C. Project Segment

D. Project unit

Correct Answer: AD


Question 8:

A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user\’s approval limit.

What is the status of the adjustment?

A. Pending Approval

B. Forwarded for Approval

C. Pending Research

D. Approval Required

Correct Answer: A


Question 9:

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the

remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist\’s

approval limits.

What would be the result?

A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist\’s approval limits.

B. The program can be run only if the amount is within the Billing Specialist\’s approval limits.

C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist\’s approval limits.

D. The program creates the adjustments only for the amounts within the Billing Specialist\’s approval limits.

Correct Answer: A

Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj


Question 10:

When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.

A. miscellaneous receipt

B. quick cash receipt

C. manual receipt

D. automatic receipt

E. AutoLockbox receipt

Correct Answer: D


Question 11:

Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD. What will be the resulting tax and invoice amounts for your tax invoice?

A. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.

B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.

C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.

E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

Correct Answer: E


Question 12:

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 13:

What is the impact on transactions of changing the billing cycle for a customer or group of customers?

A. The billing cycle does not have any impact on new transactions.

B. Existing transactions with no activity retain the old billing cycle.

C. Existing transactions with activity adapt the new billing cycle.

D. New transactions after this change inherit the new billing cycle.

Correct Answer: D


Question 14:

Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

A. Revenue Manager

B. Accounts Receivable Manager

C. Accounts Receivable Specialist

D. Billing Specialist

Correct Answer: C


Question 15:

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

Correct Answer: C

When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.


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Question 1:

Which is a term under ASC 606 or IFRS 15?

A. transaction price

B. promise detail

C. initial performance event

D. requires complete

Correct Answer: A

Reference: https://cloud.oracle.com/_downloads/Datasheet_Financials_3_RevenueMgmt/Revenue_M anagement_Datasheet.pdf


Question 2:

A corporation uses a pricing policy that considers deal size to calculate price per unit for its products. For example:

Which Price Band Segment Label would be appropriate to use in this case?

A. Amount Band

B. Deal Size Band

C. Set Band

D. Quantity Band

Correct Answer: A


Question 3:

Which statement Is True regarding the Customer Contract Source Data Import Template?

A. It is a predefined Excel FBDI template.

B. It is a predefined Java FBDI template.

C. It Is a predefined HTML FBDI template.

D. It is a custom template that you are required to build.

Correct Answer: A

Reference: https://www.google.com/url?sa=tandrct=jandq=andesrc=sandsource=webandcd=1andcad=rjaanduact=8andv ed=2ahUKEwjQrM7ImKzdAhUHxYUKHbYLBpAQFjAAegQIBBACandurl=http://w ww.oracle.com /webfolder/technetwork/docs% 2Ffbdi- r11/fbdi/xlsm% 2FRevenueDataImportTemplate.xlsmandusg=AOvVaw2kKXNI1OQEF 9K6p7rBAEwz


Question 4:

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A. Inverted Allocation Method

B. Residual Allocation Method

C. Relative Allocation Method

D. Two Step Allocation Method

E. Alternative Allocation Method

Correct Answer: D


Question 5:

What is a Standalone Selling Price (SSP)?

A. the average of your bundled price

B. the sum of the SSPs of the components

C. the list price

D. the price you would use if you sold to a customer separately

Correct Answer: D


Question 6:

What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?

A. Create a reporting ledger.

B. Create a new primary ledger.

C. Create a secondary ledger.

D. Using their existing primary ledger.

Correct Answer: D


Question 7:

After defining a pricing dimension structure for a customer, you must define a pricing dimension structure instance.

Which two attributes on the structure instance are inherited from the structure definition?

A. whether Dynamic Combination Creation Allowed is enabled

B. the shape: Same number of segments and order

C. the Displayed option

D. the value sets

E. the Query Required option

Correct Answer: AB


Question 8:

Which is the following is NOT a feature of personalization

A. Selecting default language

B. Changing text font

C. Saving searches

D. Configuring table columns

Correct Answer: B


Question 9:

Which three tasks can be performed In the Revenue Management Work Area?

A. Edit Contract Identification Rules.

B. Review Observed Standalone Selling Prices.

C. Manage contracts in “Pending Review” status.

D. Manage contracts in “Pending Allocation” status.

E. Review Performance Satisfaction Plans.

F. Review Revenue Price Profiles.

Correct Answer: BCD


Question 10:

The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill…….

What is the difference between Selling Amount and Allocated Amount?

A. The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amount. The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.

B. The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document upload. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.

C. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculation. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.

D. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amount. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.

Correct Answer: B


Question 11:

A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application. How should you handle this scenario In Revenue Management?

A. Ignore the performance obligation for the toaster because it was free of cost to the customer.

B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.

C. Create the performance obligation for the toaster manually.

D. Define an adhoc rule in the Revenue Price Profile to include the toaster.

Correct Answer: B


Question 12:

What is the correct match sequence of the descriptions A, B and C against the titles?

A. B, C, A

B. A, C, B

C. C, B, A

D. C, A, B

E. A, B, C

F. B, A, C

Correct Answer: F


Question 13:

The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition.

What would cause a contract to be In the Pending Review tab?

A. The total Transaction Price is over the user-defined threshold amount.

B. The contract is missing standalone selling prices at the promised detail level or at obligation level.

C. The contract is missing satisfaction events.

D. The contract is missing Billing data.

Correct Answer: A

Explanation: Accounting contracts with a total transaction price that is greater than the user-defined

threshold amount you defined in your system options. Contracts in this list are significant value contracts.

Reference:

https://docs.oracle.com/cloud/farel12/financialscs_gs/FAOFC/FAOFC2288367.htm#FAOF C2288367


Question 14:

Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?

A. Performance Obligation Satisfied

B. Performance Obligation Billed

C. Initial Performance

D. Revenue Recognized

E. Standalone Selling Prices Allocated

Correct Answer: ACD


Question 15:

Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

A. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.

B. You value the accrual at estimated consideration and it is a monetary debt.

C. You book the invoiced amount to the PandL when you meet the regulatory definition by Industry.

D. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

E. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

Correct Answer: A