1Z0-1056-23 Practice Online

Question 1

You are configuring tax for Receivables to cash transactions.

Which two additional Party types can be selected only in the Tax engine for Receivables Transactions to identify the place of supply? (Choose two.)

A : Ship-to party

B : Ship-from party

C : Point of origin party

D : Point of acceptance party

E : Bill-to party

Answer: B,C

Question 2

Identify two credit memo options. (Choose two.)

A : Tax only

B : Advance

C : Invoice lines

D : Paid amount only

Answer: A,D

Question 3

Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.

Which action should you take the resolve the Issue?

A : Use the Customer Data Exceptions spreadsheet.

B : Use the Customer Payment Method Exceptions spreadsheet.

C : Troubleshoot In the Manage Customers page.

D : Correct error and resubmit the batch.

Answer: B

Question 4

Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

A : drilldown to see reconciliation details and to make reconciling corrections

B : drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

C : drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

D : drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

E : drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

Answer: A,B,C

Question 5

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.

How would you achieve this?

A : Set the credit classification revenue recognition policy to look for Line First and Tax Later.

B : Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

C : Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

D : Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

E : Set the payment terms revenue recognition policy to look for Line First and Tax Later

Answer: C

Name:	Oracle Financials Cloud: Receivables 2023 Implementation Professional
Exam Code:	1Z0-1056-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	180
Last Updated:	Apr 22, 2024

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