Free Access Oracle.1Z0-1056-20.v2022-01-17.q38 Practice Test (Page 5)

Question 16

You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page?
(Choose two.)

A.Pending Approval

B.Approved

C.Pending Approval From Managers

D.Pending My Research

E.Pending My Approval

Question 17

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.Earned revenue will be debited for $50 USD.

B.Unearned revenue will be credited for $100 USD.

C.Unearned revenue will be debited for $50 USD.

D.Earned revenue will be credited for $50 USD.

Question 18

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?

A.Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

B.Set the payment terms revenue recognition policy to look for Line First and Tax Later.

C.Set the credit classification revenue recognition policy to look for Line First and Tax Later.

D.Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

E.Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

Question 19

Which two determinant types are used in reference data assignment? (Choose two.)

A.Project unit

B.Account Segment

C.Project Segment

D.Business Unit

Question 20

When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.

A.leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run

B.removes the pending sales credits

C.removes the invoice line revenue contingencies

D.leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run

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