1Z0-1056-21 Online Practice Questions and Answers

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. Pending Research

D. Approval Required

When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.

A. miscellaneous receipt

B. quick cash receipt

C. manual receipt

D. automatic receipt

E. AutoLockbox receipt

Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

A. Revenue Manager

B. Accounts Receivable Manager

C. Accounts Receivable Specialist

D. Billing Specialist

Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

A. drilldown to see reconciliation details and to make reconciling corrections

B. drilldown on the difference amounts to see specific reconciling items and the potential cause of the outof-balance condition

C. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the

Revenue account.

Which option would you use to achieve this with the help of the Subledger Accounting solution?

A. Mapping Set

B. Supporting References

C. Transaction References

D. Description Rule

You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are

A. The import process, however, returns errors. Identify two reasons for the import failure.

B. an inactive Journal Line Type

C. an inactive Accounting Method

D. an inactive Mapping Set

E. an inactive Journal Entry Rule Set

The Billing Manager has navigated to the Billing Work Area to review incomplete transactions. Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?

A. 20+ Days Link

B. 0-10 Days Link

C. 0-5 Days Link

D. 10+Days Link

Where is the summary delinquency data displayed In the Collections Work Area?

A. Transactions Tab

B. History Tab

C. Profile Tab

D. Aging Tab

Which three benefits do intercompany reconciliation reports provide to an accountant?

A. Comparing receivables and payables account balances and identifying discrepancies.

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. Displaying clearing company balancing lines.

Which configuration step is required for processing Collections disputes?

A. Define Aging Method to be used with disputed transactions.

B. Define Dispute Thresholds in Collections Preferences.

C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.

D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.