Free 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional Exam Questions and Answers
Oracle Financials Cloud: Receivables 2023 Implementation Professional is exam 1056-23, part of Oracle Certification from Oracle University. Oracle exam codes begin 1Z0-, and modern ones end in the release year, so 1Z0-1085-26 is the 2026 release of OCI Foundations Associate. The least-known rule is the update path: a Delta exam swaps the prefix to 1D0- and appends -D while keeping the same family number, so 1Z0-1058-26 renews through 1D0-1058-26-D.
Candidates comparing 1056-23 exam dumps, ExamTopics and other 1056-23 practice tests use this page for the answers and explanations behind each question. Download the free 1056-23 PDF, then sit the timed 1056-23 exam simulation before booking with Oracle.
Last updated: November 1, 2026
- Exam code
- 1056-23
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- 130 mins · 70%
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Question #1
A company has two transaction types, Domestic Invoice and Export Invoice. Each transaction type has its own Receivable account combination. The implementation team wants the department segment of the Receivable account on every invoice to match the department in the account defined on that invoice's transaction type. Which source should the team select for the department segment in the Receivable AutoAccounting definition?
Correct answer: A
Explanation
AutoAccounting can pull a segment value from the account combination stored on the transaction type, using the Transaction Types table name. A Constant would apply a single value to all invoices. Salesperson and Standard Lines supply revenue-related accounts and do not return the transaction type's Receivable account.
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Question #2
A collector calls a customer about an invoice for 18,500 USD that is 30 days past due. The customer agrees to pay the full amount by the 20th of next month and does not dispute the charge. Which action should the collector take in the Collections work area to capture this agreement?
Correct answer: B
Explanation
A promise to pay records the amount and date the customer commits to, so the collector can monitor whether it is kept. A dispute is for charges the customer contests, and a credit memo or receipt application would change the balance before any payment is received.
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Question #3
In Oracle Fusion Receivables, the aging buckets that Collections uses to group past-due balances by days past due are defined within which setup object?
Correct answer: D
Explanation
Aging buckets, each with a day range and a type such as past due, are defined in an aging method. Collectors are the people who work accounts, payment terms set due dates, and transaction sources control how transactions are created.
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Question #4
Which Subledger Accounting rule type is used to derive the account combination for a journal entry line?
Correct answer: D
Explanation
An account rule determines the account combination, or segment values, used on a journal line. A journal line rule decides the line's side, debit or credit, and other attributes, and a description rule builds the line text.
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Question #5
A receivables manager can open Oracle Transactional Business Intelligence (OTBI) analyses for invoices and sees data for Business Unit US1. The same analyses return no rows for Business Unit US2, even though invoices exist there. Other managers see US2 data. What should the administrator check FIRST?
Correct answer: D
Explanation
OTBI honors the same data security as the transactional application, so a user sees only the business units granted through the assigned role's data access. The fact that other managers see US2 rows shows the data is present. Transfer to General Ledger and AutoInvoice grouping do not affect what OTBI returns.
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Question #6
Interface lines for sales order 4410 are imported by AutoInvoice. All lines have the same bill-to customer, currency, payment terms and GL date, but two lines carry the transaction type Standard Invoice and one carries Service Invoice. AutoInvoice creates two invoices, and the business wants a single invoice. What should the implementer do?
Correct answer: A
Explanation
Transaction type is a mandatory grouping attribute, so lines with different values can never be combined on one invoice. Sales order can be added as a grouping attribute, but that only splits invoices further. The fix is in the interface data.
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Question #7
A receipt class is being created for a payment method that uses direct debit from customer bank accounts. Which creation method must be selected on the receipt class so that the Create Automatic Receipts process can use it?
Correct answer: B
Explanation
The Create Automatic Receipts process only selects transactions whose receipt method belongs to a receipt class with the Automatic creation method. Manual is used for receipts entered by a user. Bills Receivable is for bills receivable processing, and lockbox receipts arrive through bank transmission files, not this process.
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Question #8
A bank deposit is credited to the company's account with no remittance advice, and the paying customer cannot be determined. Which status does Receivables show for the receipt entered for this deposit?
Correct answer: A
Explanation
A receipt entered without a known customer is shown as Unidentified until the payer is determined. Unapplied describes a receipt from a known customer that has not been applied to transactions. On Account is an application type for a known customer, and Applied means the full receipt amount is applied.
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Question #9
At which level are Receivables system options defined in Oracle Fusion Receivables?
Correct answer: B
Explanation
Receivables system options are set for each business unit on the Manage Receivables System Options page. Ledger and legal entity values are tied to the business unit but are not where these options are defined. Reference data sets control sharing of some setup objects, not system options.
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Question #10
An invoice for 3,000.00 USD has payment terms that give a 2% discount if paid within 10 days, and the discount basis is Invoice Amount. The customer's receipt for 2,940.00 USD is dated day 8 and is applied to this invoice. What is the result?
Correct answer: D
Explanation
The discount is 2% of 3,000.00, which is 60.00. The receipt was applied inside the discount period, so the discount is earned and the invoice closes. An unearned discount applies only when the discount is taken outside the discount period.
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FAQ
Learn More: https://academy.oracle.com/en/resources-oracle-certifications.html
- Q1: What is the 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional exam?
- A: 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional is a Oracle certification exam. Judging by the questions in our bank, it concentrates on receivables, oracle, invoices, invoice and payment.
- Q2: What topics does the 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional exam cover?
- A: Questions in our 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional bank cluster around receivables, oracle, invoices, invoice, payment, disputes, financials and payments. Working through the full set is the quickest way to find which of these you are weakest on.
- Q3: How should I prepare for 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional?
- A: Work through the 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional practice questions here, checking your answer on each one, then sit the practice test to rehearse the exam under timed conditions before the real thing.
- Q4: Are these real 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional exam questions?
- A: They are drawn from officially released past questions and from community members who have sat 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional. Answers are verified and updated weekly.
- Q5: Where do I register for the 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional exam?
- A: Register through Oracle directly at https://academy.oracle.com/en/resources-oracle-certifications.html. Exampractice is not affiliated with Oracle and does not administer the exam.
- Q6: Is there a free 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional sample?
- A: Yes. Every 1z0-1056-23: Oracle Financials Cloud: Receivables 2023 Implementation Professional page shows a free sample of real questions. Upgrading opens the full bank and the practice test.
- Q7: What are Oracle Certification Exams?
- A: Oracle Certification Exams validate your expertise in using and managing Oracle’s vast array of software and hardware solutions, including databases, cloud infrastructure, enterprise applications, and more. These certifications demonstrate your proficiency in deploying, configuring, and optimizing Oracle technologies to meet business needs.
- Q8: Why should I pursue Oracle Certification?
- A: Oracle Certification enhances your professional credibility, showcasing your skills and knowledge in Oracle technologies. This can lead to better job opportunities, higher salaries, and career advancement in IT, database management, cloud computing, and enterprise application roles.
- Q9: What are the benefits of Oracle Certification?
- A: Benefits include recognition as a certified Oracle professional, improved job performance, access to exclusive resources, continuing education opportunities, and staying current with the latest Oracle technologies and best practices.
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- A: IT professionals, database administrators, developers, system administrators, and anyone involved in managing and implementing Oracle solutions should consider these certifications to validate their expertise and advance their careers.
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- A: Oracle offers various certification paths, including:
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- A: Preparation can include official Oracle University training courses, study guides, practice exams, online tutorials, and hands-on experience with Oracle products and solutions.
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- A: Recertification requirements vary by certification. Some Oracle certifications do not require recertification, while others, especially those related to cloud technologies, may require periodic updates to ensure professionals stay current with the latest advancements.