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Oracle 1Z0-1056-24 questions and answers
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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions (Q133-Q138):
NEW QUESTION # 133
The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?
- A. 20+ Days Link
- B. 0-5 Days Link
- C. 0-10 Days Link
- D. 10+Days Link
Answer: C
NEW QUESTION # 134
Which three receipts can be automatically applied by a system? (Choose three.)
- A. receipts created in a lockbox and uploaded
- B. receipts that are manually created
- C. receipts that are unapplied
- D. miscellaneous receipts
- E. receipts created in a spreadsheet and uploaded
Answer: A,B,D
NEW QUESTION # 135
Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?
- A. By recording an entry to the Remitted Bills Receivable account
- B. By generating a bills receivables adjustment
- C. By creating an on-account credit memo
- D. By recording short-term debt
Answer: A
Explanation:
When you approve a remittance batch of type Factored with Recourse, Receivables creates a receipt and records an entry to the Remitted Bills Receivable account to establish risk. This entry reduces the balance of the Bills Receivable account and increases the balance of the Remitted Bills Receivable account. Verified [How You Remit Bills Receivable - Oracle]
Topic 1, Performance Based Questions
"Member Insights"
"Transaction Analysis"
Confirm the Oracle Applications Cloud Version
Note: The Oracle Applications Cloud environment might take some time to launch. 1. Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.
2. Click on About This Application in the Settings and Actions menu.
3. Copy the complete version number from the About this Application pop-up in the Oracle Application Cloud window. 4. Paste the version number in the box below.
5. Click Confirm.
NEW QUESTION # 136
You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.
When assigning the tax regime to parties, what should you do to share all setup for Tax?
- A. Assign the ledger to Global Configuration Owner.
- B. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.
- C. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.
- D. Assign both business units to Global Configuration Owner.
- E. Assign two business units to First Party Configuration with Party Overrides.
Answer: A
Explanation:
This is the best option to share all setup for Tax when the tax regulations are common between the legal entities. The ledger is the highest level of party hierarchy and can be assigned as the Global Configuration Owner to share the tax regime, tax rates, and tax rules across all parties under it. Verified [How You Assign Tax Regimes to Parties - Oracle]
NEW QUESTION # 137
A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?
- A. Search for the information in the Review Customer Account Details user interface.
- B. Search for open invoices on the Manage Transaction search page.
- C. Apply, reverse, or process the receipt.
- D. Create an open debit memo.
Answer: A
NEW QUESTION # 138
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