Online Access Free 1Z0-1056 Practice Test

Which statement is true about AutoAccounting?

• A.AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
• B.You cannot override the default General Ledger accounts thatAutoAccounting creates.
• C.AutoAccounting is set up at the Legal Entity level.
• D.IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?

• A.immediately
• B.after 60 days
• C.after 100 days
• D.only after manual intervention

The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.
Identify the column.

• A.Transaction Number
• B.Transaction Class
• C.Transaction Date
• D.Transaction Source

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31,
2015?

• A.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30,
  2015.
• B.Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31,
  2015.
• C.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2,
  2015.
• D.Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
• E.Two Bills Receivable transactions are created with the issue date and accounting date as January 29,
  2015 and January 31, 2015, respectively.
• F.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February
  28, 2015.

Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?

• A.Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
• B.Query each customer refund and verify the Refund Status.
• C.Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
• D.Create an Oracle Business Intelligence Applications (OBIA) Report.