[Q71-Q88] Exam Questions and Answers for 1Z0-1056-24 Study Guide Questions and Answers!

Q71. An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

Q72. You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:

What revenue amount would be deferred on this Imported Invoice?

Q73. Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?

Q74. A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?

Q75. Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)

Q76. What validation step is required for implementing dispute processing?

Q77. Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?

Q78. 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:
Name of the collector is (Replace XX with 03. which is your allocated User ID.) Collector must be available to all business units.
Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)

Q79. While reviewing Balance Forward Bill Infertile on the Account Overview page m Bill Management, you notice that it is only displaying balance forward Mis raised in the last month.
How can you increase the number of months to view past balance forward bills?

Q80. Which flexfields does Autolnvoice require to identify transactions and transaction lines, if you load the interface using a customized form?

Q81. The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

Q82. Which role provides access to Receivables – Revenue Adjustments Real Time OTBI Subject area?

Q83. You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work area.
The import process, however, returns errors. Identify two reasons for the import failure.

Q84. Which predefined dunning letter template is available in the Collections application

Q85. After a customer bankruptcy is approved, what happens in the Collections application?

Q86. Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

Q87. You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose two.)

Q88. Identify two values that default from Customer Profile Classes. (Choose two.)