[Full-Version] 2021 New TopExamCollection 1Z0-1056-21 PDF Recently Updated Questions
1Z0-1056-21 Exam with Guarantee Updated 156 Questions
NEW QUESTION 48
When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments.
Which receipt rule should you define?
- A. One per site per due date
- B. One per invoice
- C. One per Customer per due date
- D. One per Customer
Answer: B
NEW QUESTION 49
A Cloud client has a requirement to process the most precise revenue recognition schedule.
Which revenue schedule would you use to achieve this requirement?
- A. Variable rate
- B. Daily Revenue rate - Partial Periods
- C. Period end rate
- D. Daily Revenue Rate - All periods
- E. Fixed Rate
Answer: D
NEW QUESTION 50
Your customer has a state tax of 20% and a city tax 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 $91.11 USD, and an invoice total of $1,257.78 USD.
- B. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
- C. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
- D. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
- E. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
Answer: B
NEW QUESTION 51
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?
- A. The Collector can modify the strategy from the Profile > Strategies tab.
- B. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
- C. The strategy can be modified from the Manage Customers page.
- D. Only a Collections Administrator can modify the strategy.
Answer: B
NEW QUESTION 52
Which minimum Customer setup is required to create a receivables transaction?
- A. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
- B. one customer account without any customer site
- C. one customer account and one customer site with a bill-to site business purpose
- D. one customer account and one customer site with a ship-to site business purpose
Answer: C
NEW QUESTION 53
Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?
- A. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.
- B. Receiver and provider business units and legal entities must be subscribed to the applicable tax regime on the transaction date.
- C. Intercompany invoicing must be enabled in Payables Invoice Options.
- D. Intercompany invoicing must be enabled in Receivables System Options.
Answer: B
NEW QUESTION 54
Debit Memo Reversal is a new receivable that replaces the item closed by the original receipt.
When should the Debit Memo Reversal method be used to reverse a receipt?
- A. You are reversing a Miscellaneous receipt.
- B. You are reversing a receipt that you previously applied to a chargeback and this chargeback was posted to your general ledger.
- C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.
- D. You are reversing a receipt that you previously applied to a chargeback and this chargeback was not accounted.
Answer: C
NEW QUESTION 55
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.)
- A. Approved
- B. Pending Approval
- C. Pending My Approval
- D. Pending Approval From Managers
- E. Pending My Research
Answer: C,E
NEW QUESTION 56
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
- A. List of delinquent customers.
- B. Tasks assigned to the collector such as follow-up calls.
- C. List of broken payment promises.
- D. Summary of aged transactions.
Answer: B
NEW QUESTION 57
Which three receipts types can be reversed in the Cloud? (Choose three.)
- A. Receipts that are archived
- B. Receipts applied to open receipts
- C. Invoice-related receipts
- D. Credit card chargebacks posted to GL
- E. Miscellaneous receipts
Answer: C,D,E
NEW QUESTION 58
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Payment Settlement Management Duty
- B. Import Payables Invoices Duty
- C. Receipt Creation Duty
- D. Trading Community Hierarchy Management Duty
Answer: A,B
Explanation:
References:
NEW QUESTION 59
Which two are NOT components of a Business Intelligence Publisher report? (Choose two.)
- A. View
- B. Translation
- C. Layout
- D. Matrix
- E. Data Model
Answer: A,D
NEW QUESTION 60
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.
- A. Transaction Number
- B. Transaction Source
- C. Transaction Date
- D. Transaction Class
Answer: A
NEW QUESTION 61
To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.
- A. AutoCash Rules
- B. Aging Methods
- C. Revenue Scheduling Rules
- D. AutoMatch Rule Sets
- E. Customer Site
Answer: E
NEW QUESTION 62
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
- A. Customer Account
- B. System Options
- C. Receipt Class
- D. Customer Site
- E. Receipt Method
Answer: A,D,E
Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.
References:
NEW QUESTION 63
Which three receipts can be automatically applied by a system? (Choose three.)
- A. miscellaneous receipts
- B. receipts created in a lockbox and uploaded
- C. receipts that are manually created
- D. receipts that are unapplied
- E. receipts created in a spreadsheet and uploaded
Answer: A,B,C
NEW QUESTION 64
When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.
- A. removes the pending sales credits
- B. removes the invoice line revenue contingencies
- C. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
- D. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
Answer: B
Explanation:
References:
NEW QUESTION 65
You schedule print runs of transactions and balance forward bills according to the needs of your enterprise.
Which three statements are true? (Choose three.)
- A. If you have printed a transaction, the View Print button will not display a preview of the print.
- B. It is recommended that you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
- C. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
- D. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
- E. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
Answer: B,C,D
NEW QUESTION 66
Which two are Late Charge Calculation Methods?
- A. Adjustment
- B. Late Payments Only
- C. Overdue Invoices Only
- D. Credit Items and Disputed Transactions
Answer: B,C
NEW QUESTION 67
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
- A. only after manual intervention
- B. after 100 days
- C. after 60 days
- D. immediately
Answer: B
NEW QUESTION 68
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