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Home Oracle 1z0-1056-21

Oracle 1z0-1056-21 Exam Practice Questions (P. 5)

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Question #21
When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments.
Which receipt rule should you define?
  1. A
    One per Customer per due date
  2. B
    One per Customer
  3. C
    One per site per due date
  4. D
    One per invoice

Correct Answer:
D

Question #22
When entering the values in the natural account spreadsheet of the rapid implementation for General Ledger workbook, which three accounts types are used to set up the default Receivable account combinations? (Choose three.)
  1. A
    Liability- Unearned revenue
  2. B
    Revenue- Revenue
  3. C
    Liability-Accounts Payable
  4. D
    Owner’s equity
  5. E
    Asset - Remitted Receipts

Correct Answer:
CDE

Question #23
You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.
How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?
  1. A
    Invoice balance is displayed as 0.
  2. B
    Invoice balance is displayed as −2500.
  3. C
    Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.
  4. D
    Invoice balance is played as 0 and On account receipt is created with 2500.

Correct Answer:
B

Question #24
If a customer has more than one transaction with the same number within a Lockbox transmission, then in which two receipt statuses are the receipts left? (Choose two.)
  1. A
    On-account, if the Customer Account Number or MICR is provided and there are no matching recommendations
  2. B
    Unapplied, if the Customer Account Number or MICR number is provided
  3. C
    Unidentified, if the Customer Account Number or MICR is not provided and there are no successful matching recommendations
  4. D
    Applied, if the Customer Account Number or MICR number is provided

Correct Answer:
BC

Question #25
Given the default system options:

Which two instances are you required to select for the – require salesperson flag? (Choose two.)
  1. A
    Sales credit tracking is required
  2. B
    FBDI Loader is required
  3. C
    Auto-Invoicing is required
  4. D
    Revenue accounting is required

Correct Answer:
AD

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