Online Access Free 1Z0-1056-24 Exam Questions

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?

• A.by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
• B.by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
• C.by defining an item group and assigning that to the rule
• D.by defining a grouping rule on the customer class
• E.by defining an exclusion rule to exclude customer classes that are "Retail"

As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?

• A.Reassign
• B.Request Information
• C.Reject
• D.Edit
• E.Approve

Which statement is true about AutoAccounting?

• A.AutoAccounting is set up at the Legal Entity level.
• B.AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
• C.You cannot override the default General Ledger accounts thatAutoAccounting creates.
• D.IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

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

• A.Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
• B.Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
• C.Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
• D.First enter a payable transaction to calculate tax and then enter the receivable transaction.
• E.The payable options and the receivable system options should have the same tax application options.
• F.Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.

After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action?

• A.The payment schedules are created using the payment terms specified.
• B.The invoice is sent for a dunning follow-up.
• C.The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
• D.The invoice can now be printed.
• E.The invoice is eligible for transfer to the General Ledger.