Get Latest [Jul-2021] Conduct effective penetration tests using ActualCollection 1Z0-1056-20
Penetration testers simulate 1Z0-1056-20 exam PDF
NEW QUESTION 40
You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?
- A. Customer Name, Customer Billing Address, Customer Bank Account
- B. Customer Number, Customer Account Number, Customer Site Number
- C. Customer Name, Customer Account Number, Customer Site Number
- D. Customer Number, Customer Billing Address, Customer Bank Account
Answer: B
NEW QUESTION 41
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.
- A. Unearned revenue will be debited for $50 USD.
- B. Earned revenue will be debited for $50 USD.
- C. Earned revenue will be credited for $50 USD.
- D. Unearned revenue will be credited for $100 USD.
Answer: C
NEW QUESTION 42
Identify the receivables system option that relates to customers.
- A. Default Country
- B. Reciprocal Customer
- C. Receipt Method
- D. Automatic Site Numbering
Answer: A,C
NEW QUESTION 43
Which two are Late Charge Calculation Methods?
- A. Adjustment
- B. Overdue Invoices Only
- C. Credit Items and Disputed Transactions
- D. Late Payments Only
Answer: B,D
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC
NEW QUESTION 44
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
- A. Customer Account
- B. Receipt Method
- C. Customer Site
- D. System Options
- E. Receipt Class
Answer: A,B,C
Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.
NEW QUESTION 45
Which statement is true about Balance Forward Billing?
- A. Balance Forward Bills must be enabled at each bill-to-site level.
- B. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
- C. Transactions included on a Balance Forward Bill can be updated.
- D. Balance Forward Bills can be created for a future date.
Answer: A
NEW QUESTION 46
Identify three activities that you can perform from the Collections Dashboard. (Choose three.)
- A. Update the work status of a work item for a delinquent customer.
- B. Verify Customer Payments.
- C. Record an activity to create a task or tasks to follow up on a delinquent customer.
- D. Assign a Collector to a delinquent customer.
- E. View the Total Amount Due for delinquent customers.
Answer: A,C,D
NEW QUESTION 47
After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)
- A. The invoice can now be printed.
- B. The invoice is eligible for transfer to the General Ledger.
- C. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
- D. Payment schedules are created using the payment terms specified.
- E. The invoice is sent for a dunning follow-up.
Answer: A,D,E
NEW QUESTION 48
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
- A. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
- B. manually by using Chargeback Reversal activities
- C. manually by using Adjustment Reversal activities
- D. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
- E. automatically by using the Adjustment Reversal and Chargeback Reversal activities
Answer: E
Explanation:
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.
NEW QUESTION 49
When deciding how to set up the system to recognize revenue, it is important 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. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- 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. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
- D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
Answer: B,D
NEW QUESTION 50
When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.
- A. removes the pending sales credits
- B. removes the invoice line revenue contingencies
- C. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
- D. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
Answer: B
NEW QUESTION 51
Which predefined dunning letter template is available in the Collections application
- A. Regular, Medium, Hard, Easy
- B. Soft, Regular, Medium, Hard
- C. Regular, Medium, Hard, Difficult
- D. Soft, Medium, Hard, Final
Answer: D
NEW QUESTION 52
Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?
- A. Supporting References
- B. Transaction References
- C. Description Rule
- D. Mapping Set
Answer: A
NEW QUESTION 53
You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?
- A. the employees who are involved with the collections process and how the collectors will be assigned
- B. system privileges
- C. customer contact information
- D. scheduled processes
- E. user application privileges
Answer: A
NEW QUESTION 54
Where is the summary delinquency data displayed on the Collections Dashboard?
- A. Activity tab
- B. Profile tab
- C. Correspondence tab
- D. Aging tab
Answer: B
NEW QUESTION 55
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- B. You need to submit the Extract Intercompany Reconciliation Data job.
- C. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
- D. The Transaction Summary Report shows only transactions with a status of received.
- E. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
Answer: C,E
NEW QUESTION 56
Identify the dunning letter template set provided by an application.
- A. Soft, Regular, Hard
- B. Regular, Final Demand, Medium
- C. Regular, Medium, Hard
- D. Final Demand, Soft, Medium
Answer: D
NEW QUESTION 57
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?
- A. Making payments by using a credit card or the bank account
- B. Managing disputes
- C. Managing unapplied payments
- D. Managing credit memos
- E. Reviewing customer account balances
Answer: A
NEW QUESTION 58
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Tested Material Used To 1Z0-1056-20 Test Engine: https://www.actualcollection.com/1Z0-1056-20-exam-questions.html