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Note! Following 1z0-1056-22 Exam is Retired now. Please select the alternative replacement for your Exam Certification. The new exam code is 1z0-1056-23

1z0-1056-22 Exam Dumps - Oracle Financials Cloud: Receivables 2022 Implementation Professional

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Question # 9

A client rents equipment for special events. They havethe 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, theclient 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.

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Question # 10

If a receipt cannot be automatically matched or transaction information is not available, Receivables can use theAutoCash rule set.

In which three places is the rule set found? (Choose three.)

A.

System Options

B.

Receipt Class

C.

Customer Site

D.

Receipt Method

E.

Customer Account

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Question # 11

Your Cloud client has decided to use Channel RevenueManagement Integration with Receivables for Claim creation and Settlements created by Spreadsheet or SOAP services.

Which three setup steps are predefined for this feature? (Choose three.)

A.

predefined Channel Revenue Management auto accounting type

B.

predefined Subledger Journal Entry Rule for the Event Class Receipt and Accounting Class Claim Investigation

C.

predefined Channel Revenue Management transaction type

D.

predefined Channel Revenue Management transaction source

E.

predefined Claim Investigation activity type under Receivables Activities

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Question # 12

Which configuration taskneeds to be completed before you can create Bills Receivables for a customer?

A.

Define approval limits.

B.

Define standard memo lines.

C.

Define revenue scheduling rules.

D.

Define drawee site.

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Question # 13

When deciding how to set up the system to recognize revenue, it isimportant to understand the extent of revenue deferral and the subsequent timing of revenue recognition.

Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

A.

Time-based contingenciescan expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.

B.

Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

C.

Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

D.

Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

E.

Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

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Question # 14

Which three transaction types are used to generate late charges? (Choose three.)

A.

CashReceipts

B.

Adjustments against the original transaction

C.

Credit Memo

D.

Debit Memo

E.

Interest Invoice

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Question # 15

ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegiankrone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.

Where should you define the header-level rounding account?

A.

Customer Account Level

B.

Transaction Source

C.

Receivable System Option

D.

Customer Site Level

E.

Transaction Type

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Question # 16

Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

A.

Verify Customer Payments.

B.

Assign a Collector to a delinquent customer.

C.

View the Total Amount Due for delinquent customers.

D.

Record an activity to createa task or tasks to follow up on a delinquent customer.

E.

Update the work status of a work item for a delinquent customer.

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