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1Z0-1056-21 Online Practice Questions and Answers

Questions 4

To determine the best approach to converting a client's data, you must know which setup is set- enabled

and can be shared.

Identify three set-enabled setups in Receivables. (Choose three.)

A. Collectors

B. Standard Memo Lines

C. Revenue Types

D. Receivable Specialists

E. Revenue Contingencies

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Questions 5

What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)

A. creating write-offs for specific currencies and customers

B. limiting write-offs by a percentage of the original receipt amount

C. scheduling periodic write-offs as receipt adjustments for small remaining balances

D. scheduling periodic write-offs as receipt adjustments for old remaining balances

E. scheduling periodic write-offs to occur in future periods

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Questions 6

Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)

A. Debit Memo

B. Deposit

C. Charge Back

D. Credit Memo

E. Guarantee

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Questions 7

Which statement is true about Balance Forward Billing?

A. Balance Forward Bills must be enabled at each bill-to-site level.

B. Balance Forward Bills can be created for a future date.

C. Transactions included on a Balance Forward Bill can be updated.

D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.

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Questions 8

Identify two values that default from Customer Profile Classes. (Choose two.)

A. Business Purpose

B. Statement Cycle

C. Legal Entity

D. Tax

E. Payment Terms

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Questions 9

You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are

A. The import process, however, returns errors. Identify two reasons for the import failure.

B. an inactive Journal Line Type

C. an inactive Accounting Method

D. an inactive Mapping Set

E. an inactive Journal Entry Rule Set

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Questions 10

Which is NOT a valid Infotile in the Accounts Receivables Work Area?

A. Unidentified Receipts

B. Lockbox Exceptions

C. Receipt Batches

D. Unapplied Receipts

E. Unapplied Credits

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Questions 11

Which two statements are true about processing Receivables adjustments that impact tax amounts?

A. Receivables can look at invoice and retrieve the tax rate code.

B. There is no need to retrieve the tax rate code.

C. Receivables can look at the adjustment activity and retrieve the tax rate code.

D. Receivables can look at System Options and retrieve the tax rate code.

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Exam Code: 1Z0-1056-21
Exam Name: Oracle Financials Cloud: Receivables 2021 Implementation Essentials
Last Update: Mar 19, 2025
Questions: 110 Q&As

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