Free Oracle Service Center 2020 Implementation Essentials Exam 1Z0-1056-20 Exam Practice Test

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

• Cash Receipts
• Adjustments against the original transaction
• Credit Memo
• Debit Memo
• Interest Invoice Referencehttps://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

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

• Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
• Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
• Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
• The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

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

• Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
• The payable options and the receivable system options should have the same tax application options.
• Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
• First enter a payable transaction to calculate tax and then enter the receivable transaction.
• Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
• Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

A Billing Specialist has created and completed an invoice for $100 USD for Customer

• The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer A is posted to the General Ledger. How can this be corrected?
• Create an adjustment for the entire amount and create a negative adjustment for Customer B.
• Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.
• Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
• Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.

When running the delinquency process for a customer, the business unit for which you want to run the process does not appear in the drop-down menu.Identify the action that you need to take.

• Business unit is not a required option on the Parameters tab to run the delinquency process.
• Only business units that the user has access to will appear in the list of values. Modify the security options to provide access to the user.
• Select the check box to enter the default business unit if it does not appear in the drop-down menu.
• Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.

Which two statements are true about configuring Collection Strategies?

• You need to create Scoring Formulae (or use predefined Scoring Formulas).
• You need to define an Aging Method that meets the requirements of your organization.
• You need to SGI the (Collections Method to Strategies for the relevant business unit.
• You need to create Strategy Tasks of the type 'Automatic' only.

The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?

• 20+ Days Link
• 0-10 Days Link
• 0-5 Days Link
• 10+Days Link

You are a functional user who has been tasked with creating an Oracle Transactional Business Intelligence (OTBI) analysis. You are still learning how to use OTBI, and the analysis you need to create is not complex.Which tool should you use to create this analysis?

• BI Answers
• BI Composer
• BI Publisher
• Dashboard Builder

Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?

• Processing a payment promise in the Transactions Tab.
• Creating a credit memo in the Transactions Tab.
• Changing the collector in the Profile Tab.
• Applying a customer payment in the Aging Tab.
• Adding new customer contacts in the Contacts tab.

Identify the receivables system option that relates to customers.

• Reciprocal Customer
• Receipt Method
• Default Country
• Automatic Site Numbering