1Z0-1056-21 Online Practice Questions and Answers

Where is the summary delinquency data displayed on the Collections Dashboard?

A. Activity tab

B. Correspondence tab

C. Profile tab

D. Aging tab

How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

B. Only a Collections Administrator can modify the strategy.

C. The Collector can modify the strategy from the Profile > Strategies tab.

D. The strategy can be modified from the Manage Customers page.

Your customer has three business units. The customer wants to share customer account addresses

across these business units.

Which reference data set can be used to achieve this?

A. Create a new reference data set for account addresses and assign it to the business units.

B. Assign a COMMON reference data set to the business units, which share the account addresses.

C. Assign an enterprise reference data set to the business units, which share the account addresses.

D. Create a separate reference data set for each business unit and assign it to each unit.

Identify the receivables system option that relates to customers.

A. Reciprocal Customer

B. Receipt Method

C. Default Country

D. Automatic Site Numbering

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. Business unit is not a required option on the Parameters tab to run the delinquency process.

B. 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.

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.

Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

A. The Implementation Project is preconfigured and cannot be deleted or changed.

B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.

C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.

E. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

What validation step is required for implementing dispute processing?

A. The Recognize Revenue Program is scheduled.

B. BPM Work List for approval configuration is validated.

C. Periods for which the transaction can be disputed are Open.

D. All transactions are of the invoice type.

A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue. How can you meet this requirement?

A. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.

D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

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: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"

D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/ Task: "Manage Business Unit Set Assignment"

Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes. What should you do to meet this requirement in an efficient manner?

A. Create an Oracle Transactional Business Intelligence (OTBI) analysis.

B. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.

C. Run the predefined Transaction Details Report.

D. Search in the Payables "Manage Payments" page, then export results to Excel.