Online 1Z0-1056-25 Practice Test

Question 1

Which two statements are true about configuring Collection Strategies?

Options :

A : You need to create Scoring Formulae (or use predefined Scoring Formulas).

B : You need to define an Aging Method that meets the requirements of your organization.

C : You need to SGI the (Collections Method to Strategies for the relevant business unit.

D : You need to create Strategy Tasks of the type 'Automatic' only.

Answer: A,D

Question 2

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.

Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

Options :

A : A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.

B : A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.

C : A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.

D : Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.

E : Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.

F : Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.

Answer: D

Question 3

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.)

Options :

A : System Options

B : Receipt Class

C : Customer Site

D : Receipt Method

E : Customer Account

Answer: A,C,D

Question 4

Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

Options :

A : Due date

B : Amount due on Bill

C : Past due Amount

D : Collector

E : Billing date

Answer: A,B,E

Question 5

When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?

Options :

A : First Review Date

B : Credit Review Cycle

C : Order line Credit Limit

D : Credit Limit

Answer: A,B

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