Oracle Financials Cloud: Receivables 2019 Implementation Essentials

Question 1

To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.

A. Aging Methods

B. Customer Site

C. Revenue Scheduling Rules

D. AutoMatch Rule Sets

E. AutoCash Rules

Correct Answer: B

Question 2

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.
What would be the result?

A. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.

B. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.

C. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.

D. The program can be run only if the amount is within the Billing Specialist's approval limits.

Correct Answer: B

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Question 3

Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?

A. transactions that were included in a previous Balance Forward Bill

B. transactions that have the selected payment terms

C. transactions that have the Print Option set to Do Not Print

D. transactions have a Bill Type of Imported

Correct Answer: B

Question 4

After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)

A. The invoice is sent for a dunning follow-up.

B. The invoice can now be printed.

C. Payment schedules are created using the payment terms specified.

D. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

E. The invoice is eligible for transfer to the General Ledger.

Correct Answer: A,B,C

Question 5

You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)

A. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.

B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.

C. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.

D. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.

E. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.

Correct Answer: A,C

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Question 6

Which three benefits do intercompany reconciliation reports provide to an accountant?

A. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

B. Comparing receivables and payables account balances and identifying discrepancies.

C. Displaying clearing company balancing lines.

D. Displaying intercompany receivables and payables balancing lines.

Correct Answer: A,B,D

Oracle Financials Cloud: Receivables 2019 Implementation Essentials - 1Z0-1056 Exam Practice Test

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