Oracle Financials Cloud: Receivables 2016 Implementation Essentials

Question 1

You are the Billing Manager and you are in charge of reviewing transactions and approving them. Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?

A. Pending Approval from Others

B. Pending My Approval

C. Pending Approval

D. Approved

E. Pending Research

Correct Answer: B,E

Question 2

A grouping rule you created in the system specifies that the Items should match all mandatory and optional attributes. What logic is used to create the invoices from the transaction file through Autoinvoicing?
Item A: USD (Currency), ACME (Bill-to). 5001 (Order Number), Domestic (Order Type), 1
(Transaction Number)
Item B: USD (Currency), ACME (Bill to), 5002(Order Number), Domestic (Order Type), 1
(Transaction Number)
Item C: USD (Currency), ACME (Bill to), 112 (Order Number), No Ship (Order Type), 2
Transaction Number)
Item D: USD (Currency), BONN (Bill to), 501 (Order Number), International (Order Type), 3
(Transaction Number)

A. Items A and B from Invoice 1, Items C and D from Invoice 2

B. Item A from Invoice 1, Item B from Invoice 2, Item C from Invoice 3, Item D from Invoice
4

C. Items A and B from Invoice 1, Item C from Invoice 2, Hem D from Invoice 3

D. Item A from Invoice 1, Item B from Invoice 2, Items C and D from Invoice 3

Correct Answer: C

Question 3

Your customer may end up not paying a bill receivable after a risk has been eliminated on a closed bills receivable that was factored with recourse. Which two events occur when you re-establish the risk?

A. The customer's transaction status is changed to disputed and the bill is updated to a status of protested.

B. The status of the bill is updated to protested.

C. The status of the bill is updated to Completed.

D. Receivables unapplies the receipt that was created when the bill was factored and applies the receipt to short-term debt.

E. The status of the bill is updated to matured pending Risk Elimination.

Correct Answer: D,E

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 4

Where are the alerts and approvals displayed in the Collection Work Area?

A. Activities List

B. Notification Pop-up

C. Delinquent Customer List Region

D. Watch list

Correct Answer: A

Question 5

The Accounts Receivables Specialist reviews receipt with a status of Pending from the
Review Customer Account Details UI in the Receivables work area. She has to reverse a particular receipt.
What action does she take?

A. Navigate to the Manage Receipts UI, reverse the receipt, and create a debit memo.

B. Navigate to the Create Receipts UI and create a new receipt for the customer.

C. Navigate to the Manage Receipts UI, reverse the receipt, and create a credit memo.

D. Navigate to the Create Automatic Receipts UI the receipt, and create a debit memo.

Correct Answer: C

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 6

Which feature allows Collectors to comment on interactions with customers?

A. Customer Application Comments

B. Consumer Application Comments

C. Client Application Components

D. Complex Application Components

E. Common Application Components

Correct Answer: E

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 7

You have completed the period-end activities and have set the receivables period to Close
Pending. Now you need to make further adjustments. What is the correct approach?

A. The receivables accounting period can be re-opened when the period status is Close
Pending, and last minute adjustments can be made.

B. Adjustments can be made anytime regardless of the receivables accounting period value.

C. Adjustments can be made even if the receivables accounting period is set to Close
Pending.

D. Once the receivables accounting period is set to Close Pending, it can NOT be re- opened, and NO further adjustments can be made.

Correct Answer: A

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 8

An invoice for $100 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 has been issued against this Invoice. Explain how revenue accounting will occur.

A. Earned revenue will be debited for $50.

B. Unearned revenue will be debited for $50.

C. Earned revenue will be credited for $50.

D. Unearned revenue will be credited for $100.

Correct Answer: B

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Oracle Financials Cloud: Receivables 2016 Implementation Essentials - 1z0-335 Exam Practice Test

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