Oracle 1z0-1056-22 Actual Free Exam Questions & Community Discussion

ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegian krone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.
Where should you define the header-level rounding account?

You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)

What are the two places where Receivables can look for the "Match Receipts By" setting when applying manual customer receipts? (Choose two.)

Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?

What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)

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?

A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?

Which two statements are true regarding the Promise to Pay feature in the Collections application?

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?