Free Access Oracle.1Z0-1056-21.v2022-05-14.q53 Practice Test (Page 10)

Question 41

Which three benefits do intercompany reconciliation reports provide to an accountant?

A.Comparing receivables and payables account balances and identifying discrepancies.

B.Displaying clearing company balancing lines.

C.Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

D.Displaying intercompany receivables and payables balancing lines.

Question 42

A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?

A.Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

B.Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

C.Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

D.Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.

Question 43

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.

A.Business unit is not a required option on the Parameters tab to run the delinquency process.

B.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.

C.Select the check box to enter the default business unit if it does not appear in the drop-down menu.

D.Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.

Question 44

Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

A.Billing date

B.Amount due on Bill

C.Collector

D.Due date

E.Past due Amount

Question 45

To determine the best approach to converting a client's data, you must know which setups are Reference: Data Set enabled and can be shared.
Which three are Reference: Data Set enabled setups in Receivables? (Choose three.)

A.Revenue Transactions

B.Revenue Contingencies

C.Standard Memo Lines

D.Customer Account Sites

E.Receivables Activities

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Question 41

Question 42

Question 43

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Question 45

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