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Oracle 1Z0-1056-22 Exam Dumps

Vendor: Oracle
Exam Code: 1Z0-1056-22
Exam Name: Oracle Financials Cloud: Receivables 2022 Implementation Professional
Certification: Oracle Financials Cloud
Total Questions: 154 Q&A
Updated on: Dec 16, 2024
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1Z0-1056-22 Online Practice Questions and Answers

Questions 1

A client rents equipment for special events. They havethe following invoicing requirements:

invoice must De entered and be due either immediately, or 20 or 10 days before the event.

The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking.

After the events occur, theclient wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.

How can you meet this requirement?

A. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration,and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.

D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

Show Answer

Questions 2

You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab, you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.

What is a Nonrevenue Allocation?

A. sales credits associated to deferred revenue

B. sales credit allocation based on billing corrections

C. sales credit reversals due to credit memo creation

D. additional incentive-based sales credits

Show Answer

Questions 3

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

A. miscellaneous receipt

B. quick cash receipt

C. manual receipt

D. automatic receipt

E. AutoLockbox receipt

Show Answer More Questions

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