Part17:Oracle Fusion Financial Receivables Certification:1Z0-1056-20

QUESTION 65
Which two determinant types are used in reference data assignment? (Choose two.)

 

Option's:
A.    Business Unit
B.    Account Segment
C.    Project Segment
D.    Project unit 

 

Answer: A,D
Explanation: References: Business Unit & Project unit .

 

QUESTION 66
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

 

Option's:
A.    Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
B.    Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
C.    Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
D.    Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
E.    Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

 

Answer: B,C 

Explanation: References: B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
C.    Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized

QUESTION 67
What are the three setup steps required to implement the Lockbox feature? (Choose three.) 

 

Option's:
A.    Receipt Classes and Receipt Methods
B.    late charges
C.    Lockbox and Lockbox Transmission Formats
D.    Receipt Sources
E.    credit card refunds 

 

Answer: A,C,D

Answer Explanation: A. Receipt Classes and Receipt Methods
C.  Lockbox and Lockbox Transmission Formats
D.   Receipt Sources

QUESTION 68
In what three ways will changing customer information impact the collection process? (Choose three.)

 

Option's:
A.    Changing information on the Profile tab does not have an impact on the level at which collections are done.
B.    Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
C.    Making changes on the Profile tab impacts the collection process.
D.    Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
E.    Changing the Collector impacts the individual working with the delinquent customer.

 

Answer: B,C,E 

Explanation: References:

B.    Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
C.    Making changes on the Profile tab impacts the collection process.
E.    Changing the Collector impacts the individual working with the delinquent customer.