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1z0-1056-22 Exam Dumps - Oracle Financials Cloud Questions and Answers

Question # 4

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

Options:

A.

Deposit

B.

Guarantee

C.

Debit Memo

D.

Credit Memo

E.

Charge Back

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Question # 5

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.)

Options:

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 # 6

Which role provides access to Receivables – Revenue Adjustments Real Time OTBI Subject area?

Options:

A.

Revenue Manager

B.

Accounts Receivable Manager

C.

Accounts Receivable Specialist

D.

BillingSpecialist

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Question # 7

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

Options:

A.

Receipt Classes and Receipt Methods

B.

late charges

C.

Lockbox and Lockbox Transmission Formats

D.

Receipt Sources

E.

credit card refunds

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Question # 8

In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for performance obligations over time? (Choose two.)

Options:

A.

by setting SM to "Requires Complete" and SMM to "Period"

B.

by setting SM to "Allow Partial" and SMM to "Percent"

C.

by setting SM to "Allow Partial" and SMM to "Period"

D.

by setting SM to "Requires Complete" and SMM to "Quantity"

E.

by setting SM to "Requires Complete" and SMM to "Percent"

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Question # 9

When importing Receivabletransactions into Fusion Receivables, the Autoinvoice log gives the error message “Error: Item validation org not set up for the BU.”

What action should you take to solve the issue?

Options:

A.

Set up Item validation organization in Inventory Item.

B.

Validate the Item validation organization in inventory Org.

C.

Set up Item validation organization in Inventory Org.

D.

Set up Item validation organization in Receivables System Options.

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Question # 10

After a customer bankruptcy is approved, what happens in the Collections application?

Options:

A.

Collection activities are suspended, delinquent transactions nolonger appear on the Collections Work Area and customer status is changed to Bankrupt.

B.

Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.

C.

Collection activitiesare suspended and delinquent transactions appear in the Collections Work Area.

D.

The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

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Question # 11

An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.

Explain how revenue accounting will occur.

Options:

A.

Earned revenue will be debited for $50 USD.

B.

Unearned revenue willbe credited for $100 USD.

C.

Earned revenue will be credited for $50 USD.

D.

Unearned revenue will be debited for $50 USD.

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Question # 12

Which reporting tool is primarily used by users to create ad hoc analysis from real-time Receivables data?

Options:

A.

Smart View

B.

Oracle Transaction Business Intelligence

C.

ADFdi Spreadsheets

D.

XML Publisher

E.

Financial Reporting Web Studio

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Question # 13

Which two statements are true about configuring Collection Strategies?

Options:

A.

You need to create Scoring Formulae (or usepredefined Scoring Formulas).

B.

You need to define an Aging Method that meets the requirements of your organization.

C.

You need to SGI the (Collections Method to Strategies for the relevant business unit.

D.

You need to create Strategy Tasks of the type "Automatic" only.

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Exam Code: 1z0-1056-22
Exam Name: Oracle Financials Cloud: Receivables 2022 Implementation Professional
Last Update: May 8, 2025
Questions: 152
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