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Best Quality Oracle 1Z0-1056-21 Exam Questions
NEW QUESTION 78
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. recall days
- B. clearing days
- C. risk elimination days
- D. collection days
- E. short-term debt clearing days
- F. lead days
Answer: E
Explanation:
References:
NEW QUESTION 79
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- B. You need to submit the Extract Intercompany Reconciliation Data job.
- C. 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.
- D. The Transaction Summary Report shows only transactions with a status of received.
- E. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
Answer: C,E
Explanation:
References:
NEW QUESTION 80
Which configuration step is required for processing Collections disputes?
- A. Define Dispute Thresholds in Collections Preferences.
- B. Define Aging Method to be used with disputed transactions.
- C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
- D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
Answer: A
NEW QUESTION 81
Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?
- A. Intercompany invoicing must be enabled in Receivables System Options.
- B. Receiver and provider business units and legal entities must be subscribed to the applicable tax regime on the transaction date.
- C. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.
- D. Intercompany invoicing must be enabled in Payables Invoice Options.
Answer: B
NEW QUESTION 82
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. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
- B. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
- 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. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
- F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
Answer: D
NEW QUESTION 83
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. JPG
- B. HTML
- C. Excel
- D. Word
- E. Zipped PDFs
- F. PDF
Answer: B,C,E,F
NEW QUESTION 84
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. Clear Receipts Automatically Process
- C. Automatic Receipt Process
- D. Lockbox Process
Answer: A
NEW QUESTION 85
Each time that you run AutoInvoice, the process generates a list of records that fail validation.
Which two ways allow you to display AutoInvoice errors in an Excel workbook? (Choose two.)
- A. using the Incomplete Infotile
- B. using the Manage Transactions task
- C. using the Manage AutoInvoice Lines task
- D. using the Import Exceptions Infotile
Answer: B,C
NEW QUESTION 86
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
- A. Tasks assigned to the collector such as follow-up calls.
- B. Summary of aged transactions.
- C. List of delinquent customers.
- D. List of broken payment promises.
Answer: A
NEW QUESTION 87
You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose two.)
- A. Pending My Research
- B. Pending My Approval
- C. Approved
- D. Pending Approval
- E. Pending Approval From Managers
Answer: A,B
NEW QUESTION 88
When running the delinquency process for a customer, the business unit for which you want to run the process does not appear in the drop-down menu.
Identify the action that you need to take.
- A. Only business units that the user has access to will appear in the list of values. Modify the security options to provide access to the user.
- B. Business unit is not a required option on the Parameters tab to run the delinquency process.
- C. Select the check box to enter the default business unit if it does not appear in the drop-down menu.
- D. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.
Answer: A
NEW QUESTION 89
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 Recall.
- C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
- 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 before the maturity date, the status of the bills receivable is updated to Protested.
Answer: A,B
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 90
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. Sum
- C. Function
- D. Hierarchy
- E. Attribute
Answer: A,D,E
NEW QUESTION 91
Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
- A. drilldown to see reconciliation details and to make reconciling corrections
- B. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
- C. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
- D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
- E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
Answer: B,C,E
Explanation:
References:
NEW QUESTION 92
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?
- A. Modify the Invoice Print Layout Bill Presentment Template.
- B. Extend the "Print Receivables Transactions" program.
- C. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.
- D. Use Web Services to integrate with an external system that can handle this requirement.
Answer: D
NEW QUESTION 93
Identify two late charge interest calculation methods. (Choose two.)
- A. Overdue Transactions only
- B. Adjusted Balance
- C. Average Daily Balance
- D. Previous Balance
Answer: A,C
Explanation:
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NEW QUESTION 94
The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)
- A. change of instrument
- B. debit memo reversal
- C. credit reversal
- D. clearing payment information
- E. receipt reversal
Answer: A,D,E
Explanation:
References:
NEW QUESTION 95
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