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Oracle 1Z0-1056-24 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Manage Customers and Transactions | 25% | - Customer Account Configuration
|
| Period Close and Reporting | 25% | - Receivables Accounting and Reporting
|
| Configure Receivables | 25% | - Manage Receivables System Options
|
| Process Receipts and Collections | 25% | - Receipt Processing
|
Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
Question #1
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
Question #2
What validation step is required for implementing dispute processing?
A. All transactions are of the invoice type.
B. The Recognize Revenue Program is scheduled.
C. BPM Work List for approval configuration is validated.
D. Periods for which the transaction can be disputed are Open.
Question #3
You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
What are the navigational steps needed to accomplish this task?
A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
Question #4
You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab. you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.
What is Nonrevenue Allocation?
A. Additional incentive-based sales credits
B. Sales credit allocation based on billing corrections
C. Sales credit reversals due to credit memo creation
D. Sales credits associated to deferred revenue
Question #5
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
A. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
B. First enter a payable transaction to calculate tax and then enter the receivable transaction.
C. The payable options and the receivable system options should have the same tax application options.
D. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
E. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
F. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
Solutions:
| Question #1 Correct Answer: B | Question #2 Correct Answer: C | Question #3 Correct Answer: B | Question #4 Correct Answer: D | Question #5 Correct Answer: C,F |
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