Part8:Oracle Fusion Financial Receivables Certification:1Z0-1056-20

QUESTION 29
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?

 

Option's:
A.    only after manual intervention
B.    after 100 days
C.    immediately
D.    after 60 days
 

Answer: B

Answer Explanation:After 100 days.

 

QUESTION 30
What is the impact on transactions of changing the billing cycle for a customer or group of customers?

 

Options:
A.    The billing cycle does not have any impact on new transactions.
B.    Existing transactions with no activity retain the old billing cycle.
C.    Existing transactions with activity adapt the new billing cycle.
D.    New transactions after this change inherit the new billing cycle.

 

Answer: D

Answer Explanation: New transactions after this change inherit the new billing cycle.

QUESTION 31
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction?

 

Option's:
A.    The invoice is not closed.
B.    The transaction is partially paid.
C.    The transaction type is not associated with a credit memo type.
D.    The transaction date falls in a closed period.
E.    The transaction is an invoice.

 

Answer: C

Answer Explanation: The transaction type is not associated with a credit memo type.

 

QUESTION 32
Identify two values that default from Customer Profile Classes. (Choose two.)

 

Option's:
A.    Business Purpose
B.    Statement Cycle
C.    Legal Entity
D.    Tax
E.    Payment Terms 

 

Answer: D,E

Answer Explanation: Tax & Payment Terms defaults from customer profile classes.