Oracle 1Z0-1056-21

A Oracle credential still carries real weight with hiring managers, and the Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam is your way in. Dumpkiller gives you 156 practice questions so you can walk into the 1Z0-1056-21 testing center with confidence.

Oracle 1Z0-1056-21 Exam Overview:

Oracle 1Z0-1056-21 Exam Syllabus Topics:

Oracle Financials Cloud: Receivables 2021 Implementation Essentials: Common Questions From Candidates

What is the Oracle Financials Cloud: Receivables 2021 Implementation Essentials certification exam?

The Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam (code: 1Z0-1056-21) is the official Oracle exam that leads to the Oracle Financials Cloud certification. It sits at the Associate level of the Oracle certification track. It is also connected with related credentials such as Oracle Financials Cloud Certification, Oracle Cloud ERP Financials Implementation Certifications. Passing it proves to employers that your skills have been validated by Oracle itself, which is why the 1Z0-1056-21 credential keeps showing up in job postings.

How many questions are in the 1Z0-1056-21 exam, and how long does it take?

The Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam gives you 120 minutes to work through 55. Pacing matters more than most candidates expect, so before exam day, run at least one full timed session in the Dumpkiller test engine to learn how long you can afford per question. If an item stalls you, flag it and move on — coming back later beats burning five minutes on a single question.

What score do I need to pass the 1Z0-1056-21 exam, and how much does it cost?

The passing score for the Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam is 60%, and the official registration fee is USD 245. Remember that a failed attempt means paying that fee in full again, so a timed self-assessment with Dumpkiller practice questions about a week before your exam date is a cheap way to confirm you are scoring comfortably above 60%.

Are there any prerequisites for the 1Z0-1056-21 exam?

According to Oracle, the following applies: No mandatory prerequisite exam. Oracle recommends experience with Oracle Financials Cloud Receivables implementation and business processes.. Certification policies do change from time to time, so confirm the latest requirements on the official exam page at https://education.oracle.com/oracle-financials-cloud-receivables-2021-implementation-essentials/pexam_1Z0-1056-21 before you register.

Can I try the 1Z0-1056-21 practice questions before buying?

Yes. Dumpkiller offers a free 1Z0-1056-21 PDF demo so you can review the question style, difficulty, and explanations before committing to anything. After purchase, your Oracle Financials Cloud: Receivables 2021 Implementation Essentials material includes 365 days of free updates, and if your product expires after that, you can extend the update service at a 50% discount from your member zone.

What happens if I do not pass the 1Z0-1056-21 exam, and how is my order delivered?

If you take the corresponding 1Z0-1056-21 exam within 60 days of your purchase and do not pass, you can apply for a full refund under our 100% Money Back Guarantee, subject to a few conditions: the failed exam must be the one matching your purchase; sitting the exam within 3 days of purchase does not qualify, since that leaves too little preparation time; downloading the material without actually taking the exam does not qualify; free materials and expired orders are excluded; and the candidate name must match the payer name. To apply, send a scanned copy of your enrollment slip together with your official Score Report (PDF) within 2 days after the exam, and claims are processed within 7 days. If you would rather not take a refund, you can exchange your purchase for two free products of equal value while keeping the update service on the product you originally bought. As for delivery, everything is an instant download: your products are sent to your email within one minute of payment — contact customer service if nothing arrives within 2 hours — and there is no limit on the number of computers you can install the software on.

What topics are covered in the 1Z0-1056-21 exam?

The official Oracle Financials Cloud: Receivables 2021 Implementation Essentials syllabus is organized into 6 main domains. The first three are Managing Customers (16%), Collections and Credit Management (10%), and Managing Transactions (20%). For the full domain-by-domain breakdown, see the complete Exam Topics outline above.

Oracle Financials Cloud: Receivables 2021 Implementation Essentials Sample Questions:

Question 1

Which statement is true about AutoAccounting?

A. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
B. You cannot override the default General Ledger accounts thatAutoAccounting creates.
C. AutoAccounting is set up at the Legal Entity level.
D. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

Question 2

Which two statements are true about Accounting for Tax on Receivables? (Choose two.)

A. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
C. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
D. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
E. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
F. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.

Question 3

An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

A. Unearned revenue will be debited for $50 USD.
B. Earned revenue will be credited for $50 USD.
C. Earned revenue will be debited for $50 USD.
D. Unearned revenue will be credited for $100 USD.

Question 4

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
C. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
D. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
E. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
F. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.

Question 5

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 a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
B. by defining an item group and assigning that to the rule
C. 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
D. by defining a grouping rule on the customer class
E. by defining an exclusion rule to exclude customer classes that are "Retail"

Solutions: