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

  • Exam Code: 1Z0-1056-24
  • Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
  • Updated: Jul 17, 2026     Q & A: 144 Questions and Answers

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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)

A) If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
B) If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
C) If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
D) If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
E) If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.


2. Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

A) You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
B) When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
C) You must plan your Implementation Project carefully because you cannot delete it or make changes later.
D) The Implementation Project is preconfigured and cannot be deleted or changed.
E) You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.


3. 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


4. In Collections, strategies can be executed based on the wait times defined on a strategy task. When the feature is enabled, you can also assign wait times for strategies based on their transaction type. Which condition must be set for the transaction level when defining a new strategy task by transaction type?

A) DaysLate
B) Not Applicable
C) Days Early
D) Time


5. To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.

A) Revenue Scheduling Rules
B) AutoMatch Rule Sets
C) AutoCash Rules
D) Aging Methods
E) Customer Site


Solutions:

Question # 1
Answer: B,E
Question # 2
Answer: A
Question # 3
Answer: Only visible for members
Question # 4
Answer: A
Question # 5
Answer: E

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