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Oracle 1Z0-1056-24 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Period Close and Reporting | 25% | - Receivables Accounting and Reporting
|
| Topic 2: Configure Receivables | 25% | - Manage Receivables System Options
|
| Topic 3: Manage Customers and Transactions | 25% | - Customer Account Configuration
|
| Topic 4: Process Receipts and Collections | 25% | - Receipt Processing
|
Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
1. Which configuration step is required for processing Collections disputes?
A) Define Aging Method to be used with disputed transactions.
B) Define Dispute Thresholds in Collections Preferences.
C) Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
D) Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
2. While reviewing Balance Forward Bill Infertile on the Account Overview page m Bill Management, you notice that it is only displaying balance forward Mis raised in the last month.
How can you increase the number of months to view past balance forward bills?
A) Use the threshold view of Balance Forward Bill Infotile
B) Use Receivables System Options
C) Add the number of months as a value for the BILL.MANAGEMENT lookup code
D) Use Bill Management System Options
3. In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.
Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)
A) Customer Japan can pay its own transactions.
B) Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
C) Customer USA can pay for Customer West and its own transactions.
D) Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
E) Customer Japan can pay for Customer West, Customer USA, and its own transactions.
4. Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
A) drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
B) drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
C) drilldown to see reconciliation details and to make reconciling corrections
D) drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
E) drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
5. 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
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A,C,E | Question # 4 Answer: B,D,E | Question # 5 Answer: Only visible for members |

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