[Nov-2021] Exam 1Z0-1056-21: New Brain Dump Professional - BraindumpsVCE
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NEW QUESTION 19
Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
- A. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
- B. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
- C. drilldown to see reconciliation details and to make reconciling corrections
- D. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
- E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
Answer: A,D,E
Explanation:
References:
NEW QUESTION 20
When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.
- A. automatic receipt
- B. quick cash receipt
- C. AutoLockbox receipt
- D. manual receipt
- E. miscellaneous receipt
Answer: A
Explanation:
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NEW QUESTION 21
Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.
How will you correct the error?
- A. by importing the correct data by using a new spreadsheet upload
- B. by using the correct Customer Payment Method spreadsheet
- C. by using the correct Customer Data spreadsheet
- D. by using the Customer Import Interface work area
Answer: B
NEW QUESTION 22
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
- A. System Options
- B. Receipt Method
- C. Customer Site
- D. Receipt Class
- E. Customer Account
Answer: B,C,E
Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.
References:
NEW QUESTION 23
Identify two credit memo options. (Choose two.)
- A. Advance
- B. Invoice lines
- C. Tax only
- D. Paid freight
- E. Paid amount only
Answer: B,C
NEW QUESTION 24
Which three benefits do intercompany reconciliation reports provide to an accountant?
- A. Displaying clearing company balancing lines.
- B. Displaying intercompany receivables and payables balancing lines.
- C. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
- D. Comparing receivables and payables account balances and identifying discrepancies.
Answer: B,C,D
NEW QUESTION 25
A company's policy is always to apply customer payments to debit and credit items, starting with the oldest due date.
Which function should you include in the default Auto-cash rule?
- A. Clear the past due invoices grouped by payment terms
- B. Match payment with Invoice
- C. Clear the account
- D. Clear past due invoices
- E. Apply to the oldest invoice first
Answer: E
NEW QUESTION 26
Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?
- A. Applying a customer payment in the Aging Tab.
- B. Changing the collector in the Profile Tab.
- C. Adding new customer contacts in the Contacts tab.
- D. Processing a payment promise in the Transactions Tab.
- E. Creating a credit memo in the Transactions Tab.
Answer: B,C,D
NEW QUESTION 27
When using lockbox to process customer payments, which two tables are used in the upload? (Choose two.)
- A. AR_INTERFACE_INTERIM_LINES_ALL
- B. AR_PAYMENTS_INTERFACE_ALL
- C. AR_INTERIM_CASH_RECEIPTS_ALL
- D. RA_INTERFACE_PAYMENTS_ALL
Answer: B,C
NEW QUESTION 28
Which two are rules applicable to issue of refunds? (Choose two.)
- A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
- B. You can refund receipts that are factored.
- C. You can refund receipts that were either remitted or cleared.
- D. You can issue a credit card refund to a customer who has made a cash payment.
Answer: A,C
Explanation:
References:
NEW QUESTION 29
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)
- A. an inventory item
- B. a credit memo line
- C. a debit memo line
- D. a standard memo line
- E. a purchasing item
Answer: A,D
Explanation:
References:
NEW QUESTION 30
Which configuration task needs to be completed before you can create Bills Receivables for a customer?
- A. Define approval limits.
- B. Define revenue scheduling rules.
- C. Define drawee site.
- D. Define standard memo lines.
Answer: A
NEW QUESTION 31
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Manager
- B. Billing Specialist
- C. Accounts Receivable Specialist
- D. Revenue Manager
Answer: C
Explanation:
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NEW QUESTION 32
What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)
- A. by Source Document Line andtime frame
- B. by Customer and time frame
- C. by Quote Number and time frame
- D. by Item and time frame
- E. by Source Document and time frame
Answer: A,D,E
NEW QUESTION 33
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. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
- B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
- C. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
- D. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
- E. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
- F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
Answer: C
NEW QUESTION 34
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. Word
- B. HTML
- C. PDF
- D. JPG
- E. Zipped PDFs
- F. Excel
Answer: B,C,E,F
NEW QUESTION 35
Identify the receivables system option that relates to customers.
- A. Receipt Method
- B. Default Country
- C. Reciprocal Customer
- D. Automatic Site Numbering
Answer: A,B
NEW QUESTION 36
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?
- A. Pending Approval
- B. Forwarded for Approval
- C. Approval Required
- D. Pending Research
Answer: A
Explanation:
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NEW QUESTION 37
Each time that you run AutoInvoice, the process generates a list of records that fail validation.
Which two ways allow you to display AutoInvoice errors in an Excel workbook? (Choose two.)
- A. using the Incomplete Infotile
- B. using the Manage AutoInvoice Lines task
- C. using the Manage Transactions task
- D. using the Import Exceptions Infotile
Answer: B,C
NEW QUESTION 38
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. AutoAccounting is set up at the Legal Entity level.
- C. You cannot override the default General Ledger accounts thatAutoAccounting creates.
- D. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
Answer: D
Explanation:
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NEW QUESTION 39
Which is NOT a valid Infotile in the Accounts Receivables Work Area?
- A. Unidentified Receipts
- B. Lockbox Exceptions
- C. Unapplied Receipts
- D. Unapplied Credits
- E. Receipt Batches
Answer: A
NEW QUESTION 40
After creating Receivable Activities using the General Ledger Rapid Implementation workbook upload process, a Receivable Manager wants to review and make changes if required, to the account assignments created for these Receivable Activities.
Which two Receivable Activities do not have account assignments to review and change? (Choose two.)
- A. Unearned Discounts
- B. Adjustment Activities
- C. Miscellaneous Receipt
- D. Debit Memo Reversal
- E. Earned Discounts
Answer: B,C
NEW QUESTION 41
Upon approval of a remittance batch of type "Factored with Recourse," the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?
- A. by creating an on-account credit memo
- B. by recording short-term debt
- C. by generating a bills receivables adjustment
- D. by recording an entry to the Remitted Bills Receivable account
Answer: C
NEW QUESTION 42
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