Course 2026 1Z0-1056-24 Test Prep Training Practice Exam Download
1Z0-1056-24 Exam Info and Free Practice Test Professional Quiz Study Materials
NEW QUESTION # 59
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?
- A. Managing credit memos
- B. Managing unapplied payments
- C. Managing disputes
- D. Making payments by using a credit card or the bank account
- E. Reviewing customer account balances
Answer: D
NEW QUESTION # 60
What is the impact on transactions of changing the billing cycle for a customer or group of customers?
- A. New transactions after this change inherit the new billing cycle.
- B. Existing transactions with activity adapt the new billing cycle.
- C. The billing cycle does not have any impact on new transactions.
- D. Existing transactions with no activity retain the old billing cycle.
Answer: A
NEW QUESTION # 61
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
- A. The program allows table hierarchies for customer bank accounts, but not for other customer information.
- B. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
- C. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
- D. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
- E. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
Answer: B
NEW QUESTION # 62
Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.
What should you do to meet this requirement in an efficient manner?
- A. Search in the Payables "Manage Payments" page, then export results to Excel.
- B. Run the predefined Transaction Details Report.
- C. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.
- D. Create an Oracle Transactional Business Intelligence (OTBI) analysis.
Answer: D
NEW QUESTION # 63
Which two initial tasks need to be completed in the Customer Account Profile page in order to generate and deliver XML invoices under the OAGIS (Open Applications Group Integration Specification) 10.1 format?
- A. Set Preferred Contact Method to XML
- B. Set Preferred Delivery Methods to Email
- C. Set Preferred Delivery Method to XML
- D. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes
- E. Select the Enable OAGIS 10.1 XML Format Check Box
Answer: A,D
NEW QUESTION # 64
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
- A. immediately
- B. after 60 days
- C. only after manual intervention
- D. after 100 days
Answer: D
NEW QUESTION # 65
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Create Automatic Receipts
- B. Correct Funds Transfer Errors
- C. Manage Receipt Remittance Batches
- D. Create Receipt Remittance Batch
- E. Lockbox Transmission History
Answer: A,C,D
NEW QUESTION # 66
Which three receipts can be automatically applied by a system? (Choose three.)
- A. miscellaneous receipts
- B. receipts created in a spreadsheet and uploaded
- C. receipts that are unapplied
- D. receipts created in a lockbox and uploaded
- E. receipts that are manually created
Answer: A,D,E
NEW QUESTION # 67
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- B. Net 45 (Enterprise Set), Net 45 (USA Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (USA Set)
Answer: A
NEW QUESTION # 68
Your customer wants to override the calculated tax line amount for their receivable transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?
- A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.
- B. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager <Business Unit>" data role to the employee.
- C. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager <Business Unit>" data role.
- D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager <Business Unit>" data role.
- E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.
Answer: D
NEW QUESTION # 69
What is the order used to group transaction lines during the AutoInvoice Import process?
- A. System options, Customer Site Profile, Transaction Source, Customer Account Profile
- B. Transaction Source, Customer Account Profile, Customer Site Profile, system options
- C. Transaction Source, Customer Account Profile, system options, Customer Site Profile
- D. Transaction Source, Customer Site Profile, Customer Account Profile, system options
Answer: D
NEW QUESTION # 70
Which statement is true about AutoAccounting?
- A. AutoAccounting is set up at the Legal Entity level.
- B. You cannot override the default General Ledger accounts thatAutoAccounting creates.
- C. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
- D. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
Answer: C
NEW QUESTION # 71
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?
- A. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
- B. You can select only a Closed accounting period.
- C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: A
NEW QUESTION # 72
Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)
- A. Compound
- B. Declining Balance
- C. Simple
- D. Flat Rate
- E. Average
Answer: A,C,D
NEW QUESTION # 73
The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?
- A. 0-10 Days Link
- B. 10+Days Link
- C. 20+ Days Link
- D. 0-5 Days Link
Answer: A
NEW QUESTION # 74
Where is the summary delinquency data displayed on the Collections Dashboard?
- A. Correspondence tab
- B. Profile tab
- C. Activity tab
- D. Aging tab
Answer: B
NEW QUESTION # 75
Which configuration step is required for processing Collections disputes?
- A. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
- B. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
- C. Define Dispute Thresholds in Collections Preferences.
- D. Define Aging Method to be used with disputed transactions.
Answer: C
NEW QUESTION # 76
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. Sales credit allocation based on billing corrections
- B. Sales credit reversals due to credit memo creation
- C. Sales credits associated to deferred revenue
- D. Additional incentive-based sales credits
Answer: C
Explanation:
Nonrevenue Allocation is the amount of sales credits that are associated to deferred revenue. It represents the portion of sales credits that are not yet recognized as revenue and are allocated to future periods. Verified [How You Manage Sales Credits - Oracle]
NEW QUESTION # 77
Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?
- A. Receipts created in a spreadsheet and uploaded.
- B. Receipts created from a lockbox and uploaded.
- C. Receipts that are manually created.
- D. Miscellaneous receipts.
- E. Receipts with unapplied amounts.
Answer: A,B,C
NEW QUESTION # 78
The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.
Identify the column.
- A. Transaction Class
- B. Transaction Number
- C. Transaction Date
- D. Transaction Source
Answer: B
NEW QUESTION # 79
Manage Collectors
Scenario:
You are responsible for defining a new collector. who will perform collection activities across multiple business units.
Task:
Create a new Collector. where:
Name of the collector is (Replace XX with 03. which is your allocated User ID.) Collector must be available to all business units.
Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Collectors icon in the Receivables work area.
Click on the Create button.
In the Collector window, enter the following information:
Name:XXCollector (Replace XX with your allocated user ID.)
Type:Employee
Employee:FASXX03 (Replace xx with your allocated user ID.)
Available to All Business Units:Yes
Click on the Save button.
The new collector will be created.
NEW QUESTION # 80
As an implementer. while importing data from a legacy/third-parly system, you forgot to populate the accounting distribution in the RA_INTERFACE_DlSTRIBUTIONS_ALL table. What happens when you run accounting?
- A. Neither invoice nor accounting will be created.
- B. It will return an error and the data will be stuck in the interface table.
- C. Invoice will get created but accounting will not be created.
- D. Invoice will be created and the system will use the AutoAccounting configuration to create accounting.
Answer: D
Explanation:
This is what happens when you run accounting without populating the accounting distribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table. The system will use AutoAccounting to derive the accounting distribution based on your AutoAccounting rules. Verified [How You Import Transactions Using AutoInvoice - Oracle]
NEW QUESTION # 81
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Trading Community Hierarchy Management Duty
- B. Payment Settlement Management Duty
- C. Import Payables Invoices Duty
- D. Receipt Creation Duty
Answer: B,C
NEW QUESTION # 82
Which two determinant types are used in reference data assignment? (Choose two.)
- A. Project Segment
- B. Business Unit
- C. Project unit
- D. Account Segment
Answer: B,C
NEW QUESTION # 83
What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)
- A. by Quote Number and time frame
- B. by Source Document Line andtime frame
- C. by Item and time frame
- D. by Source Document and time frame
- E. by Customer and time frame
Answer: B,C,D
NEW QUESTION # 84
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