[Q33-Q55] Get Prepared for Your 1Z0-1056-24 Exam With Actual Oracle Study Guide!

Q33. 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?

Q34. What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

Q35. You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.
Which two conditions are failing? (Choose two.)

Q36. The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

Q37. Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Define Remittance Bank Account where:
Bank Account is associated with Receipt Method
Primary bank account is linked the Denver branch of Bank of America
Bank account number ends with 2870
Remittance bank account is effective as of January 1, 2023
GL Accounts section must contain the values below for company segment 120 Supremo Fitness

Q38. What information does the Collector see in the Activities List area of the Collections Dashboard?

Q39. Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

Q40. Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?

Q41. Which four output file types are available when you run the “Print Receivables Transactions” program?

Q42. A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user’s approval limit.
What is the status of the adjustment?

Q43. Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.
How will bills be generated?

Q44. Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Create Balance Forward Billing Cycle, where:
Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.) Bills are generated every day Cycle is effective as Of January 1,2023

Q45. When you run Auto lnvoice. the process may generate a list of records that fail validation.
Using which two methods/features, can you display the Auto lnvoice errors in an Excel workbook?

Q46. Identify two values that default from Customer Profile Classes. (Choose two.)

Q47. You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:

What revenue amount would be deferred on this Imported Invoice?

Q48. What validation step is required for implementing dispute processing?

Q49. Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

Q50. When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?

Q51. Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:

Q52. When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?

Q53. Your customer wants to override the calculated tax line amount for their receivable transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?

Q54. Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)

Q55. What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)