[May-2026] Oracle 1Z0-1056-24 Exam: Basic Questions With Answers
New 2026 Realistic Free Oracle 1Z0-1056-24 Exam Dump Questions and Answer
NEW QUESTION # 83
You are an IT contractor for a client who wants to increase internal controls on bank accounts set up in the Cash Management application. According to their new policy, a Cash Manager s ability to add. review, or make changes to bank accounts must be regionalized and restricted by their org structure.
Which statement is true about the restrictions applied to the setup?
- A. Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.
- B. Cash Managers can create and manage bank accounts for only those business units to which they are given access.
- C. Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access.
- D. Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.
Answer: A
Explanation:
This is the true statement about the restrictions applied to the setup. Cash Managers can access bank accounts based on their legal entity access privileges. They can create and manage bank accounts for only those legal entities that they are authorized to access. Verified [How You Manage Bank Accounts - Oracle]
NEW QUESTION # 84
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. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: B
Explanation:
This is the revenue amount that would be deferred on this imported invoice. The Payment Terms Threshold Policy defers revenue recognition of 120 days, which means that only the first two installments (1000 and 4000) are within the threshold and can be recognized as revenue. The remaining three installments (1000, 2000, and 2000) are beyond the threshold and must be deferred until they are due. Verified [How You Manage Revenue Recognition - Oracle]
NEW QUESTION # 85
A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?
- A. Create an open debit memo.
- B. Apply, reverse, or process the receipt.
- C. Search for open invoices on the Manage Transaction search page.
- D. Search for the information in the Review Customer Account Details user interface.
Answer: D
NEW QUESTION # 86
Your customer receives their invoices via the XML delivery method. They want to receive billing transactions for specific sites only. Now you have been tasked with creating a very focused delivery method of XML transactions for this customer site that should be receiving the invoice.
To define this setup, you must add a new lookup code to the AR Features lookup type in the Manage Receivables Lookups task. Which lookup code would you use?
- A. AR_CUSTOMER.DELIVERY
- B. AR_NTERFACE.XML
- C. AR_XML_INVOICE_ENHANCED
- D. AR_XML.DELIVERY.METHOD
- E. AR.INVOICE.XML.ENHANCED
Answer: D
Explanation:
This lookup code is used to define the XML delivery method for a customer site. You can specify the XML delivery method in the customer profile or in the transaction source. Verified [Overview of Oracle Receivables - Oracle]
NEW QUESTION # 87
Which two items are required for customer invoicing? (Choose two.)
- A. Remit-to-address
- B. Customers
- C. Lockbox
- D. Customer Profile Class
Answer: C,D
NEW QUESTION # 88
Identify two credit memo options. (Choose two.)
- A. Tax only
- B. Advance
- C. Paid amount only
- D. Paid freight
- E. Invoice lines
Answer: A,E
NEW QUESTION # 89
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
- A. by defining an exclusion rule to exclude customer classes that are "Retail"
- B. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
- C. by defining a grouping rule on the customer class
- D. by defining an item group and assigning that to the rule
- E. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
Answer: B
NEW QUESTION # 90
You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?
- A. scheduled processes
- B. user application privileges
- C. the employees who are involved with the collections process and how the collectors will be assigned
- D. customer contact information
- E. system privileges
Answer: C
NEW QUESTION # 91
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 the payment terms revenue recognition policy to look for Line First and Tax Later.
- E. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
Answer: A
NEW QUESTION # 92
Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)
- A. Charge Back
- B. Deposit
- C. Credit Memo
- D. Guarantee
- E. Debit Memo
Answer: C,E
NEW QUESTION # 93
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Manager
- B. Revenue Manager
- C. Billing Specialist
- D. Accounts Receivable Specialist
Answer: D
NEW QUESTION # 94
What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)
- A. limiting write-offs by a percentage of the original receipt amount
- B. scheduling periodic write-offs as receipt adjustments for old remaining balances
- C. scheduling periodic write-offs as receipt adjustments for small remaining balances
- D. scheduling periodic write-offs to occur in future periods
- E. creating write-offs for specific currencies and customers
Answer: A,C,E
NEW QUESTION # 95
Which is NOT a valid Infotile in the Accounts Receivables Work Area?
- A. Unapplied Receipts
- B. Unapplied Credits
- C. Lockbox Exceptions
- D. Receipt Batches
- E. Unidentified Receipts
Answer: E
NEW QUESTION # 96
Manage Transaction Types
Scenario
A US based company acquired on January 1. 2023. requires Supremo US Business Unit to capture invoices in Oracle Financials Cloud.
Task:
Define a new Transaction Type for the class invoice, where:
Name of the transaction type is XXinvoice (Replace XX with 03.
which is your allocated User ID.)
Customer bills assigned to this transaction type must be printed
Transaction type is meant for billing transactions With open balances
Balances need to be maintained for invoices associated with this
transaction type
Freight charges must be allowed
Cash applications to invoices assigned to this transaction type must not exceed the invoice balance due Invoices associated with this transaction type must be accounted for in the General Ledger application.
Revenue GL account 41000 should be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Transaction Types icon in the Receivables work area.
Click on the Create button.
In the Transaction Typewindow, enter the following information:
Name:XXinvoice
Class:Invoice
Transaction Action:Create
Transaction Source Type:Customer
Print Customer Bills:Yes
Allow Freight Charges:Yes
Allow Cash Applications:Yes
Accounting:
Reference Account:41000
Company Segment:120 Supremo Fitness
Click on the Save button.
The new transaction type will be created and the customer bills associated with this transaction type will be printed. The balances will also be maintained for invoices associated with this transaction type. Freight charges will be allowed and cash applications to invoices assigned to this transaction type must not exceed the invoice balance due. The invoices associated with this transaction type will be accounted for in the General Ledger application. The revenue GL account 41000 will be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness.
Steps to confirm the Oracle Applications Cloud version:
Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.
Click on About This Application in the Settings and Actions menu.
Copy the complete version number from the About this Application pop-up in the Oracle Application Cloud window.
Paste the version number in the box below.
Click Confirm.
NEW QUESTION # 97
Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?
- A. transactions that have the Print Option set to Do Not Print
- B. transactions that have the selected payment terms
- C. transactions that were included in a previous Balance Forward Bill
- D. transactions have a Bill Type of Imported
Answer: B
NEW QUESTION # 98
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