1Z1-1056 by Oracle Actual Free Exam Q&As

Question 1

A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?

A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute B. by defining a grouping rule on the customer class C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute D. by defining an exclusion rule to exclude customer classes that are "Retail" E. by defining an item group and assigning that to the rule

Discussion 0

Correct Answer: C Vote an answer

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. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31,
2015. B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30,
2015. C. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015. D. Two Bills Receivable transactions are created with the issue date and accounting date as January 29,
2015 and January 31, 2015, respectively. 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.

Discussion 0

Correct Answer: C Vote an answer

Question 3

Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?

A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy. B. The program allows table hierarchies for customer bank accounts, but not for other customer information. C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information. D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information. E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.

Discussion 0

Correct Answer: D Vote an answer

Question 4

What is required to register an external user to Bill Management?

A. a customer account contact with a valid mobile number B. a customer account contact with a valid email address C. a customer account contact with a valid mailing address D. a customer account contact with the responsibility types bill to and ship-to

Discussion 0

Correct Answer: D Vote an answer

Question 5

Which statement is true about Balance Forward Billing?

A. Transactions included on a Balance Forward Bill can be updated. B. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle. C. Balance Forward Bills must be enabled at each bill-to-site level. D. Balance Forward Bills can be created for a future date.

Discussion 0

Correct Answer: C Vote an answer

Question 6

The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.
Identify the column.

A. Transaction Source B. Transaction Class C. Transaction Date D. Transaction Number

Discussion 0

Correct Answer: D Vote an answer

Question 7

A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?

A. Search for open invoices on the Manage Transaction search page. B. Search for the information in the Review Customer Account Details user interface. C. Create an open debit memo. D. Apply, reverse, or process the receipt.

Discussion 0

Correct Answer: B Vote an answer

Question 8

The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?

A. 0-10 Days Link B. 10+Days Link C. 0-5 Days Link D. 20+ Days Link

Discussion 0

Correct Answer: A Vote an answer

Oracle Financials Cloud: Receivables 2019 Implementation Essentials - 1Z1-1056 Exam Practice Test