Free Oracle 1Z0-1056-26 Exam Questions

Become Oracle Certified with updated 1Z0-1056-26 exam questions and correct answers

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Total 180 Questions | Updated On: Mar 13, 2026

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Question 1

You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?

A : Invoice balance is displayed as 0.

B : Invoice balance is displayed as 2500.

C : Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.

D : Invoice balance is played as 0 and On account receipt is created with 2500.

Answer: B

Question 2

Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)

A : Average

B : Flat Rate

C : Declining Balance

D : Simple

E : Compound

Answer: A,B,D

Question 3

Which two statements are true regarding the Promise to Pay feature in the Collections application?

A : Mass promise to pay amounts automatically become partial payments.

B : You cannot cancel a promise made in error if it is before the promise due date.

C : Promise information is updated by scheduling the Promise Reconciliation process.

D : You can cancel a promise made in error if it is before the promise due date.

Answer: A

Question 4

You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.What are the navigational steps needed to accomplish this task?

A : Setup and Maintenance/Setup Dropdown: ''Financials''/Functional Area: ''Receivables''/Task: ''Manage Business Unit Set Assignment''

B : Setup and Maintenance/Setup Dropdown: ''Financials''/Functional Area: ''Legal Structures''/Task: ''Manage Business Unit Set Assignment''

C : Setup and Maintenance/Setup Dropdown: ''Financials''/Functional Area: ''Financial Reporting Structures''/Task: ''Manage Business Unit Set Assignment''

D : Setup and Maintenance/Setup Dropdown: ''Financials''/Functional Area: ''Organization Structures''/Task: ''Manage Business Unit Set Assignment''

Answer: A

Question 5

Your customer wants to override the calculated tax line amount for their receivable transaction.What steps should the customer perform to ensure that only one of their employees has this privilege?

A : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable invoice event and grant the employee the 'Tax Manager ' data role

B : Enable the 'Allow tax rate override' and 'Allow manual tax lines' profiles at the user level, set, the value to Yes for the selected employee, and grant the 'Tax Manager ' data role to the employee.

C : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable invoice event and set the 'Transaction Tax Line Override' profile option to Yes for the selected employee.

D : Set the 'Transaction Tax Line Override' profile option to Yes for the selected employee and assign the employee the 'Tax Manager ' data role

E : Enable 'Allow override of calculated tax lines' within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee

Answer: D

Page: 1 / 36

Total 180 Questions | Updated On: Mar 13, 2026

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