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Oracle 1Z0-1056-24 Exam Questions and Answers, Oracle Financials Cloud: Receivables 2024 Implementation Professional | SPOTO

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Question #1
You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments: What revenue amount would be deferred on this Imported Invoice?
A. 3000
B. 5000
C. 1000
D. 4000
E. 2000
View answer
Correct Answer: B
Question #2
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days). When will revenue be recognized?
A. only after manual intervention
B. immediately
C. after 100 days
D. after 60 days
View answer
Correct Answer: C
Question #3
Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?
A. Applying a customer payment in the Aging Tab
B. Adding new customer contacts in the Contacts tab
C. Creating a credit memo in the Transactions Tab
D. Processing a payment promise in the Transactions Tab
E. Changing the collector in the Profile Tab
View answer
Correct Answer: BDE
Question #4
The process of remitting receipts to a bank results in fund transfer errors. Identify three corrective actions to resolve this. (Choose three.)
A. debit memo reversal
B. change of instrument
C. clearing payment information
D. credit reversal
E. receipt reversal
View answer
Correct Answer: BCE
Question #5
To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared. Identify three set-enabled setups in Receivables. (Choose three.)
A. Standard Memo Lines
B. Revenue Types
C. Receivable Specialists
D. Collectors
E. Revenue Contingencies
View answer
Correct Answer: ABE

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