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

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Oracle 1Z0-1056-24 Exam Syllabus Topics:

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. Identify two late charge interest calculation methods. (Choose two.)

A) Previous Balance
B) Overdue Transactions only
C) Average Daily Balance
D) Adjusted Balance

2. 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) removes the invoice line revenue contingencies
C) removes the pending sales credits
D) leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run

3. In what three ways will changing customer information impact the collection process? (Choose three.)

A) Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
B) Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
C) Making changes on the Profile tab impacts the collection process.
D) Changing the Collector impacts the individual working with the delinquent customer.
E) Changing information on the Profile tab does not have an impact on the level at which collections are done.

4. Where is the summary delinquency data displayed on the Collections Dashboard?

A) Profile tab
B) Correspondence tab
C) Aging tab
D) Activity tab

5. 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) Earned revenue will be debited for $50 USD.
C) Unearned revenue will be debited for $50 US
D) Unearned revenue will be credited for $100 USD.

Solutions: