1Z0-1056-24 by Oracle Valid Free Exam Practice Test

Question 1

Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?

A. Mapping Set B. Description Rule C. Transaction References D. Supporting References

Correct Answer: D

Question 2

Which two statements are true about processing Receivables adjustments that impact tax amounts?

A. Receivables can look at invoice and retrieve the tax rate code. B. Receivables can look at the adjustment activity and retrieve the tax rate code. C. There is no need to retrieve the tax rate code. D. Receivables can look at System Options and retrieve the tax rate code.

Correct Answer: A,D

Question 3

Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.
How will you correct the error?

A. by using the correct Customer Payment Method spreadsheet B. by using the correct Customer Data spreadsheet C. by importing the correct data by using a new spreadsheet upload D. by using the Customer Import Interface work area

Correct Answer: A

Question 4

You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:

What revenue amount would be deferred on this Imported Invoice?

A. 1000 B. 3000 C. 2000 D. 4000 E. 5000

Correct Answer: E

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Question 5

If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?

A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI. B. Delete Contracts from the Manage Customer Contracts UI. C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again. D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again. E. Delete the source data that was imported into Revenue Management and import new source data.

Correct Answer: D

Question 6

Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

A. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning. B. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager. C. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager. D. Select Portal Upload as a delivery method on Customer Profile under Invoicing. E. Run the Create Customer Statement process in Scheduled Processes.

Correct Answer: D

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Question 7

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

A. late charges B. credit card refunds C. Receipt Classes and Receipt Methods D. Lockbox and Lockbox Transmission Formats E. Receipt Sources

Correct Answer: C,D,E

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