Oracle Financials Cloud: Receivables 2024 Implementation Professional : 1Z0-1056-24 Exam Questions

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Oracle 1Z0-1056-24 Exam Syllabus Topics:

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.
Identify three set-enabled setups in Receivables. (Choose three.)

A) Standard Memo Lines
B) Revenue Contingencies
C) Collectors
D) Receivable Specialists
E) Revenue Types

2. 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) 1%/10 Net 30 (USA Set), Net 45 (USA Set)
B) Net 30 (Enterprise Set), Net 45 (USA Set)
C) Net 45 (Enterprise Set), Net 45 (USA Set)
D) Net 30 (Enterprise Set), Net 45 (Enterprise Set)

3. What is the impact on transactions of changing the billing cycle for a customer or group of customers?

A) Existing transactions with activity adapt the new billing cycle.
B) Existing transactions with no activity retain the old billing cycle.
C) New transactions after this change inherit the new billing cycle.
D) The billing cycle does not have any impact on new transactions.

4. You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

A) A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
B) Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
C) Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
D) A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
E) Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
F) A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.

5. 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) No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
B) The program allows table hierarchies for customer bank accounts, but not for other customer information.
C) Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
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) The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.

Solutions: