Oracle Fusion Financial Receivables Certification:1Z0-1056-20

Oracle Fusion Financial Receivables Certification:1Z0-1056-20

QUESTION 1
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set Payment Term = Net 45; Reference Data Set = Enterprise Set Payment Term = 1%/10 Net 30; Reference Data Set = USA Set Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?

 

Option's:
A.    Net 45 (Enterprise Set), Net 45 (USA Set)
B.    Net 30 (Enterprise Set), Net 45 (Enterprise Set)
C.    Net 30 (Enterprise Set), Net 45 (USA Set)
D.    1%/10 Net 30 (USA Set), Net 45 (USA Set) 

 

Answer: B
 

 

QUESTION 2
You need to make decisions about how an application should behave, such as date ranges and defaults. What should you consider before defining Collections Preferences?

 

Option's:
A.    scheduled processes
B.    system privileges
C.    user application privileges
D.    the employees who are involved with the collections process and how the collectors will be assigned
E.    customer contact information 

 

Answer: D
Explanation: References: The employees who are involved with the collections process and how the collectors will be assigned
 

 
QUESTION 3
Which three transaction types are used to generate late charges? (Choose three.)

 

Option's:
A.    Cash Receipts
B.    Adjustments against the original transaction
C.    Credit Memo
D.    Debit Memo
E.    Interest Invoice 

 

Answer: B,C,E
Explanation: Referencehttps://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

 

 

QUESTION 4
When a customer opts to make a payment by a credit card, this receipt is identified as a(n)?
     .
 

Option's:
A.    miscellaneous receipt
B.    quick cash receipt
C.    manual receipt
D.    automatic receipt
E.    Auto Lockbox receipt 

 

Answer: D
Explanation: References: This receipt will be identified Automatic receipt.