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NEW QUESTION # 66
After creating Receivables Activities using the General Ledger Rapid Implementation workbook upload process a Receivables Manager wants to review and make changes if required, to the account assignments created for these Receivables Activities.
Which two Receivables Activities DO NOT have account assignments to review and change?
- A. Miscellaneous Receipt
- B. Adjustment Activities
- C. Debit Memo Reversal
- D. Unearned Discounts
- E. Earned Discounts
Answer: D,E
Explanation:
These two receivables activities do not have account assignments to review and change because they are not posted to general ledger. They are used to calculate discount amounts for transactions and receipts. Verified [How You Define Receivables Activities - Oracle]
NEW QUESTION # 67
Identify two values that default from Customer Profile Classes. (Choose two.)
- A. Payment Terms
- B. Business Purpose
- C. Tax
- D. Statement Cycle
- E. Legal Entity
Answer: A,C
NEW QUESTION # 68
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
- A. The transaction date falls in a closed period.
- B. The invoice is not closed.
- C. The transaction is an invoice.
- D. The transaction type is not associated with a credit memo type.
- E. The transaction is partially paid.
Answer: D
NEW QUESTION # 69
As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?
- A. Edit
- B. Reassign
- C. Request Information
- D. Approve
- E. Reject
Answer: B
NEW QUESTION # 70
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Manage Receipt Remittance Batches
- B. Create Receipt Remittance Batch
- C. Create Automatic Receipts
- D. Correct Funds Transfer Errors
- E. Lockbox Transmission History
Answer: A,B,C
NEW QUESTION # 71
After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)
- A. The invoice can now be printed.
- B. The invoice is eligible for transfer to the General Ledger.
- C. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
- D. Payment schedules are created using the payment terms specified.
- E. The invoice is sent for a dunning follow-up.
Answer: A,D,E
NEW QUESTION # 72
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 defining a grouping rule on the customer class
- B. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
- C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values 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"
Answer: C
NEW QUESTION # 73
Which is NOT a valid Infotile in the Accounts Receivables Work Area?
- A. Unapplied Receipts
- B. Lockbox Exceptions
- C. Unapplied Credits
- D. Receipt Batches
- E. Unidentified Receipts
Answer: E
NEW QUESTION # 74
Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?
- A. Receipts created from a lockbox and uploaded.
- B. Receipts with unapplied amounts.
- C. Miscellaneous receipts.
- D. Receipts created in a spreadsheet and uploaded.
- E. Receipts that are manually created.
Answer: A,D,E
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. Define Dispute Thresholds in Collections Preferences.
- C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
- D. Define Aging Method to be used with disputed transactions.
Answer: B
NEW QUESTION # 76
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?
- A. Modify the Invoice Print Layout Bill Presentment Template.
- B. Use Web Services to integrate with an external system that can handle this requirement.
- C. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.
- D. Extend the "Print Receivables Transactions" program.
Answer: B
NEW QUESTION # 77
Which two statements are true regarding the Promise to Pay feature in the Collections application?
- A. You can cancel a promise made in error if it is before the promise due date.
- B. Mass promise to pay amounts automatically become partial payments.
- C. Promise information is updated by scheduling the Promise Reconciliation process.
- D. You cannot cancel a promise made in error if it is before the promise due date.
Answer: B
NEW QUESTION # 78
A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?
- A. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
- B. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.
- C. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
- D. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
Answer: A
NEW QUESTION # 79
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. status of processing activities from the Process Monitor
- B. customer's profile for each assigned customer
- C. customer search as per the parameter specified
- D. tasks assigned to the Collector, such as follow-up calls
- E. summary of aged transactions
Answer: D
NEW QUESTION # 80
Which flexfields does Autolnvoice require to identify transactions and transaction lines, if you load the interface using a customized form?
- A. Line-level transaction flexfield. Header-level transaction flexfield. and Link to transaction flexfield
- B. Line-level transaction flexfield, Invoice transaction flexfield. Reference flexfield. and Link to transaction flexfield
- C. Line-level transaction flexfield and Header-level transaction flexfield
- D. Line-level transaction flexfield. Header-level transaction flexfield. and Reference flexfield
Answer: C
Explanation:
These are the two flexfields that AutoInvoice requires to identify transactions and transaction lines, if you load the interface using a customized form. They are used to group transaction lines into transactions and assign transaction attributes. Verified [How You Define AutoInvoice Grouping Rules - Oracle]
NEW QUESTION # 81
Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Create a manual Receipt Class, where:
Name of the new receipt class is XXReceipt Class (Replace XX with 03, which is your allocated User ID.) Receipts using this new receipt class will not be remitted Organization will use Cash Management to clear their receipts
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Receipt Classes icon in the Receivables work area.
Click on the Create button.
In the Receipt Class window, enter the following information:
Name:XXReceipt Class (Replace XX with your allocated user ID.)
Creation Method:Manual
Remittance Method:No Remittance
Bank Account:The bank account that will be used to clear receipts for this receipt class.
Click on the Save button.
The new manual receipt class will be created.
To make sure that receipts using this receipt class will not be remitted:
Click on the Remittance Methods tab.
Select the check box next to No Remittance.
Click on the Save button.
The receipts using this receipt class will now not be remitted.
NEW QUESTION # 82
You schedule print runs of transactions and balance forward bills according to the needs of your enterprise.
Which three statements are true? (Choose three.)
- A. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
- B. If you have printed a transaction, the View Print button will not display a preview of the print.
- C. It is recommended that you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
- D. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
- E. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
Answer: A,C,E
NEW QUESTION # 83
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)
- A. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
- B. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- C. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
- E. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
Answer: B,E
NEW QUESTION # 84
Which three benefits do intercompany reconciliation reports provide to an accountant?
- A. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
- B. Displaying intercompany receivables and payables balancing lines.
- C. Displaying clearing company balancing lines.
- D. Comparing receivables and payables account balances and identifying discrepancies.
Answer: A,B,D
NEW QUESTION # 85
To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.
- A. Aging Methods
- B. Customer Site
- C. AutoCash Rules
- D. Revenue Scheduling Rules
- E. AutoMatch Rule Sets
Answer: B
NEW QUESTION # 86
Which statement is true about AutoAccounting?
- A. You cannot override the default General Ledger accounts thatAutoAccounting creates.
- B. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
- C. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
- D. AutoAccounting is set up at the Legal Entity level.
Answer: C
NEW QUESTION # 87
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