1Z0-1056-23 Online Practice Questions and Answers

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on openinvoices, but some of the amounts have exceeded the Billing Specialist's approval limits. What would be the result?

A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.

B. The program can be run only if the amount is within the Billing Specialist's approval limits.

C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.

D. The programcreates the adjustments only for the amounts within the Billing Specialist's approval limits.

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A. Two Step Allocation Method

B. Inverted Allocation Method

C. Alternative Allocation Method

D. Relative Allocation Method

E. Residual Allocation Method

Your customer has a state tax of 20% and a citytax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.

What will be the resulting tax and invoice amounts for your tax invoice?

A. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.

B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.

C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.

E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)

A. Average

B. Flat Rate

C. Declining Balance

D. Simple

E. Compound

Your customer wants to override the calculated tax line amount for their receivable transaction.

What steps should the customer perform to ensure that only one of their employees has this privilege?

A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager " data role.

B. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager " data role to the employee.

C. Enable "Allow override of calculated tax lines" within the tax configuration owner options forthe receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.

D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager " data role.

E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.

Which statement is true about AutoAccounting?

A. AutoAccounting is set up at the Legal Entity level.

B. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

C. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.

D. You cannot override the default General Ledger accounts thatAutoAccounting creates.

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

A. Activity tab

B. Correspondence tab

C. Profile tab

D. Aging tab

You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.

When assigning the tax regime to parties, what should you do to share all setup for Tax?

A. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.

B. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.

C. Assign both business units to Global Configuration Owner.

D. Assign the ledger to Global Configuration Owner.

E. Assign two business units to First Party Configuration with Party Overrides.

Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment.

When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?

A. Process Receipts and Remittances through Lockbox

B. Process Lockbox Receipts

C. Process Lockbox Receipts and Remittance References

D. Process Receipts through Lockbox

Manage Collectors

Scenario:

You are responsible for defining a new collector. who will perform collection activities across multiple business units.

Task:

Create a new Collector. where:

1.

Name of the collector is (Replace XX with 03. which is your allocated User ID.)

2.

Collector must be available to all business units.

3.

Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)

A. See the explanation below for solution.

B. PlaceHolder

C. PlaceHolder

D. PlaceHolder