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: Oct 11, 2026
  • Q & A: 144 Questions and Answers

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Oracle 1Z0-1056-24 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Configure Receivables25%- Manage Receivables System Options
  • 1. Manage Receipt Classes and Methods
  • 2. Configure Business Units
  • 3. Manage Transaction Types
Topic 2: Manage Customers and Transactions25%- Customer Account Configuration
  • 1. Manage Customer Account Sites
  • 2. Configure Transaction Sources
  • 3. Create Customer Profiles
Topic 3: Period Close and Reporting25%- Receivables Accounting and Reporting
  • 1. Period Close Process
  • 2. Review Accounting Entries
  • 3. Run Receivables Reports
Topic 4: Process Receipts and Collections25%- Receipt Processing
  • 1. Manage Automatic Receipts
  • 2. Collections Management
  • 3. Apply Receipts

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

Question #1

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 Automatic Revenue Recognition is run
  • B. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
  • C. removes the pending sales credits
  • D. removes the invoice line revenue contingencies
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #2

Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?

  • A. Miscellaneous receipts.
  • B. Receipts created from a lockbox and uploaded.
  • C. Receipts that are manually created.
  • D. Receipts with unapplied amounts.
  • E. Receipts created in a spreadsheet and uploaded.
Reveal Solution  Discussion  0

Correct Answer: B,C,E  🗳️

Question #3

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 Approval
  • C. Pending Research
  • D. Approval Required
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #4

What validation step is required for implementing dispute processing?

  • A. The Recognize Revenue Program is scheduled.
  • B. All transactions are of the invoice type.
  • C. BPM Work List for approval configuration is validated.
  • D. Periods for which the transaction can be disputed are Open.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #5

Which two are Late Charge Calculation Methods?

  • A. Credit Items and Disputed Transactions
  • B. Adjustment
  • C. Overdue Invoices Only
  • D. Late Payments Only
Reveal Solution  Discussion  0

Correct Answer: C,D  🗳️

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