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

  • Exam Code: 1Z0-1056-24
  • Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
  • Updated: Jul 18, 2026
  • Q & A: 144 Questions and Answers

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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. Which three receipt types can be reversed in the Cloud?

A) Miscellaneous receipts
B) Invoice-related receipts
C) Receipts applied to open receipts
D) Credit card chargebacks posted to GL
E) Receipts that are archived


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

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


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


4. What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)

A) Correct Funds Transfer Errors
B) Create Receipt Remittance Batch
C) Manage Receipt Remittance Batches
D) Lockbox Transmission History
E) Create Automatic Receipts


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


Solutions:

Question # 1
Answer: A,B,D
Question # 2
Answer: A
Question # 3
Answer: A,D
Question # 4
Answer: B,C,E
Question # 5
Answer: D

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