Oracle EBS R12.1 Receivables Essentials - 1Z0-518 Exam Practice Test

Question 1

Which two statements are true regarding partitioning of data by an application? (Choose two.)

A. General Ledger is partitioned by Ledgers.

B. Order Management is partitioned by Inventory Organization.

C. Fixed Assets are partitioned by Operating Unit.

D. Accounts Receivable is partitioned by Operating Unit.

E. Accounts Payable is partitioned by Ledgers.

Correct Answer: A,D

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

Question 2

Ten analysts are assigned the same Receivables responsibility and are given their own logins. The requirement is to restrict three of the analysts from creating chargebacks or adjustments.
What would be your advice to ensure compliance with this internal control?

A. Use forms personalization to restrict function access.

B. Set the "AR: Cash - Allow Actions" system profile to no at the user level for the three analysts.

C. Set the "AR: Cash - Allow Actions" system profile to no at the responsibility level.

D. Set the "AR: Cash - Allow Actions" system profile to yes at the application level for the three analysts.

E. Set the "AR: Cash - Allow Actions" system profile to yes at the user level for the three analysts.

Correct Answer: B

Question 3

The organization that Receivables uses to validate items is set up using______.

A. the AR: Items Flexfield Mode profile option

B. item validation organization In the OM Parameters window

C. the AR: Allow Manual Invoice Lines profile option

D. the AR: Item Validation Organization profile option

Correct Answer: B

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

Question 4

Identify two correct statements about Oracle Receivables. (Choose two.)

A. Receipt accounting can be transferred after the receipts are entered and saved.

B. Receivables transactions cannot be changed after they are printed.

C. AutoAccounting is only used for the imported transactions.

D. Errors in the AutoInvoice are sent to the Interface Exceptions table.

E. Transfer to General Ledger can transfer transaction accounting entries after the transactions are entered and saved.

Correct Answer: A,D

Question 5

Identify three true statements about defining actions In Oracle Alert. (Choose three.)

A. When multiple actions are defined, they do not need to be included in an Action Set.

B. Oracle Alert waits for user response before executing next action fn an Action Set.

C. An alert can contain any number of Action Sets.

D. Oracle Alert does not wait for user response before executing next action In an Action Set.

E. An alert can contain only one Action Set.

F. When multiple actions are defined they must be Included fn an Action Set.

Correct Answer: C,D,F

Question 6

A receipt of $2,000 Is received for an Invoice that has $1,500 as the amount due. The remittance advice does not state a reason for the overpayment Identify the receipt state that should be displayed;

A. on-account

B. unidentified

C. unapplied

D. partially applied

E. applied

Correct Answer: C

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

Question 7

In order for supplementary data sources to be registered in Oracle Bill Presentment Architecture (BPA), they must be interfaced with which Oracle Application?

A. Oracle Receivables

B. Oracle Service Contract

C. Oracle Projects

D. Oracle Order Management

Correct Answer: A

Question 8

You want an invoice to be due in four stages.
What should you do when creating the invoice to accomplish this?

A. Assign an accounting rule with four schedules.

B. Create four lines and assign different payment terms to each line.

C. Assign payment terms that have four payment schedules.

D. Assign payment terms that have four discount periods defined.

E. Assign an invoicing rule with four schedules.

Correct Answer: C

Question 9

Identify two features of a Value Set that has a validation type of "None." (Choose two.)

A. The Flexfield value security rules cannot be used for a segment that uses this Value Set

B. Users can enter any value that they want even if It does not meet formatting requirements.

C. It has an approved list of values associated with it

D. The entered value must meet the formatting requirements.

Correct Answer: A,D

Question 10

MT Services has several operating companies set up as balancing segment values In Its chart of accounts.
There is only one sales tax rate that is applicable to its services. However, for accounting purposes, MT Services must track the sales tax by operating company.
Except for some government agencies that are customers, sales tax is applicable to all customers. The controller wants to know the minimum setup steps that MT Services must perform.
Choose the three minimum setups needed in Receivables and E-Business Tax to charge sales tax.
(Choose three.)

A. tax groups

B. tax classification codes

C. AutoAccounting for tax

D. assigning tax code to transaction type

E. location sales tax

F. tax exemptions for customers and customer sites

Correct Answer: C,E,F

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

Oracle EBS R12.1 Receivables Essentials - 1Z0-518 Exam Practice Test

Latest Update

Useful Links

Contact Us