Oracle 1Z0-1056-24

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Oracle 1Z0-1056-24 Exam Syllabus Topics:

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

Question #1
Which three receipts can be automatically applied by a system? (Choose three.)

A. miscellaneous receipts
B. receipts created in a spreadsheet and uploaded
C. receipts that are unapplied
D. receipts that are manually created
E. receipts created in a lockbox and uploaded

Question #2
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?

A. Use Web Services to integrate with an external system that can handle this requirement.
B. Extend the "Print Receivables Transactions" program.
C. Modify the Invoice Print Layout Bill Presentment Template.
D. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.

Question #3
You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?

A. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
C. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
E. Set the payment terms revenue recognition policy to look for Line First and Tax Later.

Question #4
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?

A. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
C. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 US
E. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

Question #5
The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

A. Lockbox receipts creation
B. manual receipt entry
C. automatic receipts creation
D. receipts creation in a spreadsheet

Solutions: