Practice 1Z0-1056-23 Exam Online

Question 1

it has been decided that when processing customer payments using lockbox one customer can pay for another customer's transaction. Which two steps will help achieve this?

A : Select the Allow payment of unrelated transactions Receivables System Option.

B : Define a relationship between the two customer accounts.

C : Define a netting agreement between the two customer accounts.

D : Define a business purpose of invoice to each customer address.

E : Define and share a cash pool bank account between the customers.

Answer: A,B

Question 2

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 3

What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

A : by Quote Number and time frame

B : by Source Document and time frame

C : by Item and time frame

D : by Customer and time frame

E : by Source Document Line andtime frame

Answer: A,B,C

Question 4

Which three receipts can be automatically applied by the 'Apply Receipts Using AutoMatch' process?

A : Receipts that are manually created.

B : Miscellaneous receipts.

C : Receipts created from a lockbox and uploaded.

D : Receipts created in a spreadsheet and uploaded.

E : Receipts with unapplied amounts.

Answer: A,C,D

Question 5

What are the two places where Receivables can look for the ''Match Receipts By'' setting when applying manual customer receipts? (Choose two.)

A : Receipt Method

B : Profile option

C : Customer

D : AutoMatch Rule

E : System Options

Answer: A

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