Oracle 1Z0-1056-24 real exam prep : Oracle Financials Cloud: Receivables 2024 Implementation Professional

  • Exam Code: 1Z0-1056-24
  • Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
  • Updated: Oct 02, 2026
  • Q&As: 144 Questions and Answers

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Oracle 1Z0-1056-24 Exam Syllabus Topics:

SectionObjectives
Topic 1: Configuring Customer Billing- Manage transaction types, transaction sources, Items, and memo lines
- Manage resources, salesperson, sales credits, and salesperson account references
- Manage AutoInvoicing
- Manage AutoAccounting
- Configure revenue for Receivables
Topic 2: Configuring Common Receivables- Configure and import customers
- Configure Receivables
- Integrate Receivables with other applications
- Configure Sub Ledger Accounting
- Configure Tax
- Configure Receivables using Rapid Implementation
- Configure Cash Management
Topic 3: Reporting for Account Receivables and Advanced Collections- Report with Business Intelligence Publisher (BIP)
- Report with Oracle Transactional Business Intelligence (OTBI)
- Generate account receivables reconciliation
Topic 4: Configuring and Using Advanced Collections- Design and use scoring strategies
- Manage collections activities
- Configure advanced collections
Topic 5: Configuring Customer Payments- Configure and manage Lockbox
- Configure and manage Automatic Receipts and Funds Capture
- Configure and manage Customer Receipts
Topic 6: Managing Customer Billing- Manage the AutoInvoice process
- Calculate transactional tax
- Manage AutoInvoice corrections
- Manage transaction printing
- Create and process transactions
Topic 7: Configuring Bill Management- Configure and use Oracle Bill Management
Topic 8: Processing Customer Payments- Create and process bills receivables remittances
- Create and process receipt exceptions
- Create and process receipts

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. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
  • B. removes the invoice line revenue contingencies
  • C. removes the pending sales credits
  • D. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #2

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. after 60 days
  • B. immediately
  • C. after 100 days
  • D. only after manual intervention
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #3

Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)

  • A. Credit Memo
  • B. Guarantee
  • C. Deposit
  • D. Debit Memo
  • E. Charge Back
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

Question #4

You are an IT contractor for a client who wants to increase internal controls on bank accounts set up in the Cash Management application. According to their new policy, a Cash Manager s ability to add. review, or make changes to bank accounts must be regionalized and restricted by their org structure.
Which statement is true about the restrictions applied to the setup?

  • A. Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.
  • B. Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.
  • C. Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access.
  • D. Cash Managers can create and manage bank accounts for only those business units to which they are given access.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

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. Making payments by using a credit card or the bank account
  • C. Managing disputes
  • D. Managing unapplied payments
  • E. Reviewing customer account balances
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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