Prepare with Oracle 1Z0-1056-24 exam torrent, pass for sure
Updated: Jun 06, 2026
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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
1. 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) collection days
B) risk elimination days
C) lead days
D) recall days
E) short-term debt clearing days
F) clearing days
2. 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 invoice is sent for a dunning follow-up.
B) The invoice is eligible for transfer to the General Ledger.
C) The payment schedules are created using the payment terms specified.
D) The invoice can now be printed.
E) The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
3. Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?
A) Processing a payment promise in the Transactions Tab.
B) Changing the collector in the Profile Tab.
C) Adding new customer contacts in the Contacts tab.
D) Creating a credit memo in the Transactions Tab.
E) Applying a customer payment in the Aging Tab.
4. Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
A) Accounts Receivable Manager
B) Billing Specialist
C) Accounts Receivable Specialist
D) Revenue Manager
5. Which two statements are true about Accounting for Tax on Receivables? (Choose two.)
A) For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
B) For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
C) For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
D) For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
E) For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
F) For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
Solutions:
| Question # 1 Answer: E | Question # 2 Answer: B,C,D | Question # 3 Answer: A,B,C | Question # 4 Answer: C | Question # 5 Answer: C,E |
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