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Home Oracle 1z0-1056-21

Oracle 1z0-1056-21 Exam Practice Questions (P. 4)

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Question #16
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.)
  1. A
    Ship-to party
  2. B
    Ship-from party
  3. C
    Point of origin party
  4. D
    Point of acceptance party
  5. E
    Bill-to party

Correct Answer:
BC

Question #17
As an Implementation Consultant, you want to define approval limits for Receivables.
Which two statements are correct? (Choose two.)
  1. A
    The approval limits are used by the auto adjustment program.
  2. B
    The approval limits are set per user, document type, and currency.
  3. C
    The implementation user can create their own approval limits.
  4. D
    The approval limits per user and per currency are shared across the document types.

Correct Answer:
CD

Question #18
You are investigating the Receivables to General Ledger Reconciliation Report and must explain any variances to your Accounting Manager.
What two variance amounts should you expect to investigate in this report? (Choose two.)
  1. A
    Tax Variance
  2. B
    Intercompany Variance
  3. C
    Accounting Variance
  4. D
    Receivables Variance

Correct Answer:
CD

Question #19
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.)
  1. A
    Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
  2. B
    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.
  3. 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.
  4. D
    Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
  5. E
    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.

Correct Answer:
CE

Question #20
A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.
After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value? (Choose three.)
  1. A
    Account Number or Party Number
  2. B
    Currency code
  3. C
    Data Point ID
  4. D
    Data Point Description
  5. E
    Data Point Lookup

Correct Answer:
ABC

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