Oracle Financials Cloud: Receivables 2021 Implementation Essentials

Question 1

Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

A. Billing date

B. Due date

C. Amount due on Bill

D. Collector

E. Past due Amount

Correct Answer: A,B,C

Question 2

If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)

A. Receipt Method

B. Customer Site

C. System Options

D. Customer Account

E. Receipt Class

Correct Answer: A,B,D

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Question 3

There are a few customers that you do not want to send dunning letters to.
How would you exclude these customers from dunning?

A. Disable Send Dunning Letter in Collections Preferences.

B. Disable Send Dunning Letter in Transaction Type.

C. Disable Send Dunning Letter on the Profile tab.

D. Disable Send Dunning Letter on the Correspondence tab.

E. Disable Send Dunning Letter in Transaction Source Type.

Correct Answer: C

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Question 4

To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.
Identify three set-enabled setups in Receivables. (Choose three.)

A. Receivable Specialists

B. Collectors

C. Revenue Contingencies

D. Standard Memo Lines

E. Revenue Types

Correct Answer: C,D,E

Question 5

Which statement is true about Balance Forward Billing?

A. Balance Forward Bills can be created for a future date.

B. Transactions included on a Balance Forward Bill can be updated.

C. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.

D. Balance Forward Bills must be enabled at each bill-to-site level.

Correct Answer: D

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Question 6

A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?

A. after 60 days

B. immediately

C. only after manual intervention

D. after 100 days

Correct Answer: D

Question 7

What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

A. by Source Document and time frame

B. by Item and time frame

C. by Source Document Line andtime frame

D. by Customer and time frame

E. by Quote Number and time frame

Correct Answer: A,B,C

Question 8

The auto-invoice program fails to complete. Subsequently, you notice a message in the log file regarding insufficient memory for processing.
To resolve this issue, by what factor should you multiply the maximum number of imported records (rounded to the nearest whole number)?

A. 1

B. 1012

C. 10

D. 1024

E. 65535

Correct Answer: D

Question 9

When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.

A. manual receipt

B. AutoLockbox receipt

C. automatic receipt

D. quick cash receipt

E. miscellaneous receipt

Correct Answer: C

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Question 10

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. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.

B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 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. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.

Correct Answer: A

Question 11

A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?

A. Apply, reverse, or process the receipt.

B. Search for open invoices on the Manage Transaction search page.

C. Search for the information in the Review Customer Account Details user interface.

D. Create an open debit memo.

Correct Answer: C

Question 12

You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?

A. clearing days

B. collection days

C. short-term debt clearing days

D. risk elimination days

E. recall days

F. lead days

Correct Answer: C

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Oracle Financials Cloud: Receivables 2021 Implementation Essentials - 1Z0-1056-21 Exam Practice Test

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