1Z0-1056-22 Online Practice Questions and Answers

Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD. How should you configure Intercompany System Option*; to meet this requirement?

A. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.

B. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL

C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.

D. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.

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?

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

A Cloud client has a requirement to process the most precise revenue recognition schedule.

Which revenue schedule would you use to achieve this requirement?

A. FixedRate

B. Daily Revenue rate ?Partial Periods

C. Variable rate

D. Period end rate

E. Daily Revenue Rate ?All periods

The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:

Which unearned revenue accounting entries will the feature generate?

A. Credits of $900 and $600 for companies 01 and 02 respectively

B. Credits of $900 and $500 for companies 01 and 02 respectively

C. Debit of $900 and credit of $500 for companies 01 and 02 respectively

D. Credit of $900 and debit of $500 for companies 01 and 02 respectively

E. Debits of $900 and $500 for companies 01 and 02 respectively

Identify two credit memo options. (Choose two.)

A. Tax only

B. Advance

C. Paid freight

D. Invoice lines

E. Paid amount only

Given the default system options:

Which two instances are you required to select for the ?require salesperson flag? (Choose two.)

A. Sales credit tracking is required

B. FBDI Loader is required

C. Auto-Invoicing is required

D. Revenue accounting is required

Which two setups are required to create billsreceivables? (Choose two.)

A. Statement cycles

B. Lockbox

C. Bills Receivable Matching Rules

D. Bills Receivable Receipt method

E. Customer account site with purpose of drawee

Which predefined dunning letter template is available in theCollections application

A. Regular, Medium, Hard, Difficult

B. Soft, Medium, Hard, Final

C. Regular, Medium, Hard, Easy

D. Soft, Regular, Medium, Hard

Which three Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose three.)

A. Deposit

B. Guarantee

C. Debit Memo

D. Credit Memo

E. Charge Back

Which two duties are included in the Accounts Receivable Specialistassociated role? (Choose two.)

A. Import Payables Invoices Duty

B. Receipt Creation Duty

C. Trading Community Hierarchy Management Duty

D. Payment Settlement Management Duty