2026 New Training Course 1Z0-1056-24 Tutorial Preparation Guide
Dumps of 1Z0-1056-24 Cover all the requirements of the Real Exam
NEW QUESTION # 28
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
- A. manually by using Adjustment Reversal activities
- B. automatically by using the Adjustment Reversal and Chargeback Reversal activities
- C. manually by using Chargeback Reversal activities
- D. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
- E. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
Answer: B
NEW QUESTION # 29
Which two items are required for customer invoicing? (Choose two.)
- A. Customer Profile Class
- B. Lockbox
- C. Customers
- D. Remit-to-address
Answer: A,B
NEW QUESTION # 30
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?
- A. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
- B. You can select only a Closed accounting period.
- C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: A
NEW QUESTION # 31
Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment.
When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?
- A. Process Receipts through Lockbox
- B. Process Lockbox Receipts and Remittance Reference
- C. Process Lockbox Receipts
- D. Process Receipts and Remittances through Lockbox
Answer: C
Explanation:
This process is used to process lockbox receipts with invalid transaction references when you enable the Create Claims Investigation option in Receivables System Options. [How You Process Lockbox Receipts - Oracle]
NEW QUESTION # 32
Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?
- A. Create an Oracle Business Intelligence Applications (OBIA) Report.
- B. Query each customer refund and verify the Refund Status.
- C. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- D. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
Answer: D
NEW QUESTION # 33
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
- A. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
- B. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
- C. The program allows table hierarchies for customer bank accounts, but not for other customer information.
- D. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
- E. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
Answer: B
NEW QUESTION # 34
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 Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.
- B. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
- 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: B
NEW QUESTION # 35
Identify the dunning letter template set provided by an application.
- A. Soft, Regular, Hard
- B. Regular, Medium, Hard
- C. Regular, Final Demand, Medium
- D. Final Demand, Soft, Medium
Answer: D
NEW QUESTION # 36
Which statement is true about AutoAccounting?
- A. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
- B. You cannot override the default General Ledger accounts thatAutoAccounting creates.
- C. AutoAccounting is set up at the Legal Entity level.
- D. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
Answer: A
NEW QUESTION # 37
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. Add the number of months as a value for the BILL.MANAGEMENT lookup code
- B. Use Bill Management System Options
- C. Use the threshold view of Balance Forward Bill Infotile
- D. Use Receivables System Options
Answer: B
Explanation:
You can use Bill Management System Options to increase the number of months to view past balance forward bills on the Account Overview page in Bill Management. You can set the value for the Number of Months for Balance Forward Bill Infotile Profile Option. Verified [How You Manage Balance Forward Billing - Oracle]
NEW QUESTION # 38
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?
- A. the billing amount for all performance obligations in the customer contract
- B. the SSP amounts for all performance obligations in the customer contract
- C. the allocated amount for all performance obligations in the customer contract
- D. the selling price for all performance obligations in the customer contract
- E. the extended SSP amounts for all performance obligations in the customer contract
Answer: A
NEW QUESTION # 39
Which two determinant types are used in reference data assignment? (Choose two.)
- A. Project unit
- B. Project Segment
- C. Account Segment
- D. Business Unit
Answer: A,D
NEW QUESTION # 40
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 clearing company balancing lines.
- C. Displaying intercompany receivables and payables balancing lines.
- D. Comparing receivables and payables account balances and identifying discrepancies.
Answer: A,C,D
NEW QUESTION # 41
After a customer bankruptcy is approved, what happens in the Collections application?
- A. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
- B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
- C. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- D. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
Answer: D
NEW QUESTION # 42
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 Reconcile Revenue Contingencies is run
- B. removes the pending sales credits
- C. removes the invoice line revenue contingencies
- D. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
Answer: C
NEW QUESTION # 43
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.
What would be the result?
- A. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
- B. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
- C. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
- D. The program can be run only if the amount is within the Billing Specialist's approval limits.
Answer: B
NEW QUESTION # 44
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 only create but not manage bank accounts for those legal entities to which they are given access.
- B. Cash Managers can create and manage bank accounts for only those business units 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 legal entities to which they are given access.
Answer: D
Explanation:
This is the true statement about the restrictions applied to the setup. Cash Managers can access bank accounts based on their legal entity access privileges. They can create and manage bank accounts for only those legal entities that they are authorized to access. Verified [How You Manage Bank Accounts - Oracle]
NEW QUESTION # 45
Identify two late charge interest calculation methods. (Choose two.)
- A. Overdue Transactions only
- B. Average Daily Balance
- C. Adjusted Balance
- D. Previous Balance
Answer: A,B
NEW QUESTION # 46
Identify two values that default from Customer Profile Classes. (Choose two.)
- A. Business Purpose
- B. Payment Terms
- C. Tax
- D. Legal Entity
- E. Statement Cycle
Answer: B,C
NEW QUESTION # 47
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Manager
- B. Billing Specialist
- C. Revenue Manager
- D. Accounts Receivable Specialist
Answer: D
NEW QUESTION # 48
Where is the summary delinquency data displayed In the Collections Work Area?
- A. Profile Tab
- B. Aging Tab
- C. History Tab
- D. Transactions Tab
Answer: B
NEW QUESTION # 49
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. 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.
- B. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
- C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- D. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- E. 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.
Answer: A,C
NEW QUESTION # 50
An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.
- A. Earned revenue will be credited for $50 USD.
- B. Unearned revenue will be debited for $50 US
- C. Unearned revenue will be credited for $100 USD.
- D. Earned revenue will be debited for $50 USD.
Answer: A
NEW QUESTION # 51
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?
- A. Forwarded for Approval
- B. Pending Research
- C. Approval Required
- D. Pending Approval
Answer: D
NEW QUESTION # 52
You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?
- A. Customer Name, Customer Billing Address, Customer Bank Account
- B. Customer Number, Customer Billing Address, Customer Bank Account
- C. Customer Number, Customer Account Number, Customer Site Number
- D. Customer Name, Customer Account Number, Customer Site Number
Answer: C
NEW QUESTION # 53
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