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


"Oracle Financials Cloud: Receivables 2024 Implementation Professional", also known as 1Z0-1056-24 exam, is a Oracle Certification. With the complete collection of questions and answers, PrepAwayPDF has assembled to take you through 144 Q&As to your 1Z0-1056-24 Exam preparation. In the 1Z0-1056-24 exam resources, you will cover every field and category in Oracle Financials Cloud Certification helping to ready you for your successful Oracle Certification.

  • Exam Code: 1Z0-1056-24
  • Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
  • Total Questions: 144

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A credential tied to Oracle Financials Cloud: Receivables 2024 Implementation Professional tells employers you can do the work, not just talk about it. Prepare for the 1Z0-1056-24 exam with 144 expert-verified practice questions from PrepAwayPDF.

Oracle 1Z0-1056-24 Exam Overview:

Certification Vendor:Oracle
Exam Name:Oracle Financials Cloud: Receivables 2024 Implementation Professional
Exam Number:1Z0-1056-24
Exam Price:$245 USD
Related Certifications:Oracle Fusion Cloud Financials: Receivables and Collections Certified Implementation Professional
Exam Format:Multiple Choice, Hands-on Performance Based
Certificate Validity Period:Oracle Cloud certifications are typically valid for 18 months
Passing Score:68%
Real Exam Qty:50
Available Languages:English
Exam Duration:90 minutes
Sample Questions: DOWNLOAD DEMO
Exam Way:Online proctored or test center delivery
Pre Condition:Oracle recommends implementation experience with Oracle Fusion Cloud Financials Receivables
Official Syllabus URL:https://education.oracle.com/

Oracle 1Z0-1056-24 Exam Syllabus Topics:

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

Frequently Asked Questions About Oracle Financials Cloud: Receivables 2024 Implementation Professional

The Oracle Financials Cloud: Receivables 2024 Implementation Professional exam (exam code 1Z0-1056-24) is the official Oracle exam that leads to the Oracle Financials Cloud certification, sitting at the Professional level of the Oracle certification track. It is also connected with Oracle Fusion Cloud Financials: Receivables and Collections Certified Implementation Professional. If this is the credential you are working toward, the 144 practice questions at PrepAwayPDF map directly to its objectives.

The Oracle Financials Cloud: Receivables 2024 Implementation Professional exam includes 50 questions, and you have 90 minutes to complete them. Divide the time limit by the question count and you get a tight average pace per item, so train yourself to flag time-consuming questions and return to them later instead of getting stuck. Before test day, run at least one full timed session in the PrepAwayPDF test engine under the same limits — the clock should never surprise you.

The passing score for Oracle Financials Cloud: Receivables 2024 Implementation Professional is 68%, and the official registration fee is $245 USD. A failed attempt means paying that fee in full again, so your preparation budget deserves the same attention as your study plan. A practical rule: book your exam date only after you can finish a PrepAwayPDF practice test comfortably above the passing score more than once.

According to Oracle, candidates should meet the following before registering: Oracle recommends implementation experience with Oracle Fusion Cloud Financials Receivables. Requirements can change, so confirm the latest details on the official exam page before you register.

Yes. A free PDF demo of the 1Z0-1056-24 practice questions is available to download, so you can judge the format and quality before paying anything. Every purchase also includes 365 days of free updates, and if your product expires you can extend the update service at a 50% discount.

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The Oracle Financials Cloud: Receivables 2024 Implementation Professional blueprint is divided into 4 major domains, starting with Manage Customers and Transactions (25%), Configure Receivables (25%), and Process Receipts and Collections (25%). The full breakdown, including every subdomain and its weighting, is listed in the Exam Topics section above — review it against your own weak areas before scheduling the exam.

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

  • A. Alternative Allocation Method
  • B. Relative Allocation Method
  • C. Inverted Allocation Method
  • D. Residual Allocation Method
  • E. Two Step Allocation Method
Reveal Solution  Discussion  0

Correct Answer: E  🗳️

After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)

  • A. The invoice is sent for a dunning follow-up.
  • B. The invoice is eligible for transfer to the General Ledger.
  • C. Payment schedules are created using the payment terms specified.
  • D. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
  • E. The invoice can now be printed.
Reveal Solution  Discussion  0

Correct Answer: A,C,E  🗳️

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

  • A. receipts created in a spreadsheet and uploaded
  • B. receipts that are unapplied
  • C. miscellaneous receipts
  • D. receipts created in a lockbox and uploaded
  • E. receipts that are manually created
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

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 creating an on-account credit memo
  • B. By generating a bills receivables adjustment
  • C. By recording an entry to the Remitted Bills Receivable account
  • D. By recording short-term debt
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for PrepAwayPDF members. You can sign-up / login (it's free).

Manage Aging Methods
Scenario
Your organization needs to create their own a-bucket aging method for reporting purposes.
Task
Create a new 4-bucket Aging Method in the Collections application, where:
Name Of the aging method is XXAging Method (Replace XX with 03, which is your allocated User ID.) Aging method is accessible to all business units Aging buckets are 45 days apart Last bucket is 91 days

Reveal Solution  Discussion  0

Correct Answer:

See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Aging Methods icon in the Receivables work area.
Click on the Create button.
In the Aging Method window, enter the following information:
Name:XXAging Method (Replace XX with your allocated user ID.)
Description:Custom aging method for reporting purposes.
Aging Buckets:
1:0 to 45 days
2:46 to 90 days
3:91 to 135 days
4:136 to 180 days
Last Bucket:181 days
Available to All Business Units:Yes
Click on the Save button.
The new aging method will be created.

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