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Practice Free 1z0-1056-23 Oracle Financials Cloud: Receivables 2023 Implementation Professional Exam Questions Answers With Explanation

We at Crack4sure are committed to giving students who are preparing for the Oracle 1z0-1056-23 Exam the most current and reliable questions . To help people study, we've made some of our Oracle Financials Cloud: Receivables 2023 Implementation Professional exam materials available for free to everyone. You can take the Free 1z0-1056-23 Practice Test as many times as you want. The answers to the practice questions are given, and each answer is explained.

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Question # 6

When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.

Which two statements are true when you consider that recognition depends on the nature of the contingency?

A.

Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

B.

Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

C.

Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

D.

Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.

E.

Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

Question # 7

it has been decided that when processing customer payments using lockbox one customer can pay for another customer's transaction.

Which two steps will help achieve this?

A.

Select the Allow payment of unrelated transactions Receivables System Option.

B.

Define a relationship between the two customer accounts.

C.

Define a netting agreement between the two customer accounts.

D.

Define a business purpose of invoice to each customer address.

E.

Define and share a cash pool bank account between the customers.

Question # 8

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_XML.DELIVERY.METHOD

B.

AR_XML_INVOICE_ENHANCED

C.

AR_NTERFACE.XML

D.

AR.INVOICE.XML.ENHANCED

E.

AR_CUSTOMER.DELIVERY

Question # 9

As an implementer. while importing data from a legacy/third-parly system, you forgot to populate the accounting distribution in the RA_INTERFACE_DlSTRIBUTIONS_ALL table. What happens when you run accounting?

A.

Invoice will get created but accounting will not be created.

B.

It will return an error and the data will be stuck in the interface table.

C.

Invoice will be created and the system will use the AutoAccounting configuration to create accounting.

D.

Neither invoice nor accounting will be created.