Part7:Oracle Fusion Financial Receivables Certification:1Z0-1056-20

QUESTION 25
Where is the summary delinquency data displayed on the Collections Dashboard?

 

Option's:
A.    Activity tab
B.    Correspondence tab
C.    Profile tab
D.    Aging tab 

 

Answer: C
Explanation: References: In Profile tab summary delinquency data displayed on the Collections Dashboard.

 

 
QUESTION 26
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)

 

Option's:
A.    Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
B.    The payable options and the receivable system options should have the same tax application options.
C.    Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
D.    First enter a payable transaction to calculate tax and then enter the receivable transaction.
E.    Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
F.    Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

 

Answer: B,F

Answer Explanation: The payable options and the receivable system options should have the same tax application options & Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

 

QUESTION 27
Identify two credit memo options. (Choose two.)

 

Option's:
A.    Tax only
B.    Advance
C.    Paid freight
D.    Invoice lines
E.    Paid amount only 

Answer: A,D

Answer Explanation:  Tax Only & Invoice Lines are two credit memo options.

QUESTION 28
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method. Which bank account setup controls receipt application to short-term debt?

 

Option's:
A.    short-term debt clearing days
B.    risk elimination days
C.    clearing days
D.    collection days
E.    lead days
F.    recall days 

 

Answer: A
Explanation: References: Short-term debt clearing days