1Z0-1056-21 Exam Questions & Answers

Exam Code: 1Z0-1056-21

Exam Name: Oracle Financials Cloud: Receivables 2021 Implementation Essentials

Updated: Apr 16, 2024

Q&As: 110

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Practice These Free Questions and Answers to Pass the Enterprise Resource Planning (ERP) Exam

Questions 1

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 were either remitted or cleared.

C. You can issue a credit card refund to a customer who has made a cash payment.

D. You can refund receipts that are factored.

Show Answer
Questions 2

Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

A. The Implementation Project is preconfigured and cannot be deleted or changed.

B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.

C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.

E. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

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Questions 3

Identify two credit memo options. (Choose two.)

A. Tax only

B. Advance

C. Paid freight

D. Invoice lines

E. Paid amount only

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Questions 4

Which is NOT a valid Infotile in the Accounts Receivables Work Area?

A. Unidentified Receipts

B. Lockbox Exceptions

C. Receipt Batches

D. Unapplied Receipts

E. Unapplied Credits

Show Answer
Questions 5

Which two statements are true about processing Receivables adjustments that impact tax amounts?

A. Receivables can look at invoice and retrieve the tax rate code.

B. There is no need to retrieve the tax rate code.

C. Receivables can look at the adjustment activity and retrieve the tax rate code.

D. Receivables can look at System Options and retrieve the tax rate code.

Show Answer

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