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- 1z0-1056-21: Oracle Financials Cloud: Receivables 2021 Implementation Essentials
Free 1z0-1056-21: Oracle Financials Cloud: Receivables 2021 Implementation Essentials Exam Questions and Answers
Last updated: March 29, 2025
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241-1z0-1056-21: Oracle Financials Cloud: Receivables 2021 Implementation Essentials
#Question
150. How can customer segmentation improve the success of collections?
A.
By increasing risks
B.
By complicating the process
C.
By enabling targeted strategies
D.
By confusing customers
Correct Answer:
C
Customer segmentation enables targeted collection strategies that are more effective, improving the chances of successful collections.
#Question
149. What should be a priority once an invoice is issued?
A.
Changing prices
B.
Tracking collections
C.
Ignoring follow-ups
D.
Adjusting payment terms
Correct Answer:
B
Tracking collections should be the priority once an invoice is issued to ensure timely follow-up and payment.
#Question
148. Why is maintaining flexibility in payment options beneficial?
A.
It makes accounting difficult
B.
It fosters customer loyalty
C.
It limits choices
D.
It confuses customers
Correct Answer:
B
Maintaining flexibility in payment options fosters customer loyalty, encouraging timely payments and customer satisfaction.
#Question
147. How can receivables financing improve cash flow?
A.
By complicating processes
B.
By delaying invoices
C.
By offering quicker access to funds
D.
By increasing interest
Correct Answer:
C
Receivables financing allows businesses to access cash more quickly by securing funding against their receivables.
#Question
146. What is the purpose of a monthly review of receivables?
A.
To terminate accounts
B.
To assess cash needs
C.
To confuse clients
D.
To increase workload
Correct Answer:
B
A monthly review of receivables helps assess cash needs and provides insights into potential issues before they escalate.
#Question
145. How can ongoing staff training improve accounts receivable processes?
A.
By increasing errors
B.
By complicating workflows
C.
By reducing efficiency
D.
By enhancing skills
Correct Answer:
D
Ongoing staff training enhances skills and knowledge that can improve efficiency and effectiveness in accounts receivable processes.
#Question
144. What should be the focus of a healthy receivables management strategy?
A.
Customer relationships
B.
Increasing workload
C.
Limiting connections
D.
Writing off debts
Correct Answer:
A
A healthy receivables management strategy should focus on strengthening customer relationships to facilitate timely payments.
241-1z0-1056-21: Oracle Financials Cloud: Receivables 2021 Implementation Essentials
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