← Back to exam page

1z0-1056 – Oracle Financials Cloud: Receivables 2019 Implementation Essentials

Loading demo links...

Showing 4–6 of 10 questions

Question 4

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

Select all that apply, then click Submit answer.

  • ○

    Receipt Classes and Receipt Methods
  • ○

    late charges
  • ○

    Lockbox and Lockbox Transmission Formats
  • ○

    Receipt Sources
  • ○

    credit card refunds
Question 5

When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.

Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

Select all that apply, then click Submit answer.

  • ○

    Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
  • ○

    Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
  • ○

    Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
  • ○

    Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
  • ○

    Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
Question 6

The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.

Identify the column.

Select an option, then click Submit answer.

  • ○

    Transaction Class
  • ○

    Transaction Number
  • ○

    Transaction Source
  • ○

    Transaction Date