Practice 1Z0-1056-23 Exam Online

Question 1

Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.

Which action should you take the resolve the Issue?

A : Use the Customer Data Exceptions spreadsheet.

B : Use the Customer Payment Method Exceptions spreadsheet.

C : Troubleshoot In the Manage Customers page.

D : Correct error and resubmit the batch.

Answer: B

Question 2

Your customer wants to override the calculated tax line amount for their receivable transaction.

What steps should the customer perform to ensure that only one of their employees has this privilege?

A : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable invoice event and grant the employee the 'Tax Manager <Business Unit>' data role

B : Enable the 'Allow tax rate override' and 'Allow manual tax lines' profiles at the user level, set, the value to Yes for the selected employee, and grant the 'Tax Manager <Business Unit>' data role to the employee.

C : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable invoice event and set the 'Transaction Tax Line Override' profile option to Yes for the selected employee.

D : Set the 'Transaction Tax Line Override' profile option to Yes for the selected employee and assign the employee the 'Tax Manager <Business Unit>' data role

E : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee

Answer: D

Question 3

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 on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

C : drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

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: A,B,C

Question 4

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

Answer: C

Question 5

A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).

When will revenue be recognized?

A : only after manual intervention

B : after 100 days

C : immediately

D : after 60 days

Answer: B

Name:	Oracle Financials Cloud: Receivables 2023 Implementation Professional
Exam Code:	1Z0-1056-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	180
Last Updated:	Apr 25, 2024

Oracle 1Z0-1056-23