1Z0-1056-22 Online Practice Questions and Answers

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 defininga 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 rule on the customer class

C. by defining a grouping on an extensible line attributeand ensuring that the source lines for the specified items contain the same value for that attribute

D. by defining an item group and assigning that to the rule

E. by defining an exclusion rule to exclude customer classes that are "Retail"

To meet the business needs of most organizations, "Common Set" is seeded InFusionfor all set-enabled objects with the exception of _________________.

A. AutoMatch Rule Sets

B. AutoCash Rules

C. Revenue Scheduling Rules

D. Customer Site

E. Aging Methods

You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.

Which bank account setup controls receipt application to short-term debt?

A. short-term debt clearing days

B. risk elimination days

C. clearing days

D. collection days

E. lead days

F. recall days

The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:

Which unearned revenue accounting entries will the feature generate?

A. Credits of $900 and $600 for companies 01 and 02 respectively

B. Credits of $900 and $500 for companies 01 and 02 respectively

C. Debit of $900 and credit of $500 for companies 01 and 02 respectively

D. Credit of $900 and debit of $500 for companies 01 and 02 respectively

E. Debits of $900 and $500 for companies 01 and 02 respectively

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

A. Receipt Classes and Receipt Methods

B. late charges

C. Lockbox and Lockbox Transmission Formats

D. Receipt Sources

E. credit card refunds

The auto-invoice program fails to complete. Subsequently, you notice a message in the log file regarding insufficient memory for processing.

To resolve this issue, by what factor should you multiply the maximum number of imported records (rounded to the nearest whole number)?

B. 1012

C. 65535

D. 1

E. 1024

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

A. creating write-offs for specific currencies and customers

B. limiting write-offs by a percentage of the original receipt amount

C. scheduling periodic write-offs as receipt adjustments for small remaining balances

D. scheduling periodic write-offs as receipt adjustments for old remaining balances

E. scheduling periodic write-offs to occur in future periods

Which three Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose three.)

A. Deposit

B. Guarantee

C. Debit Memo

D. Credit Memo

E. Charge Back

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

A. Business Purpose

B. Statement Cycle

C. LegalEntity

D. Tax

E. Payment Terms

You are investigating the Receivables to General Ledger Reconciliation Report and must explain any variances to your Accounting Manager.

What two variance amounts should you expect to investigate in this report? (Choose two.)

A. Tax Variance

B. Intercompany Variance

C. Accounting Variance

D. Receivables Variance