Oracle Financials Cloud: Receivables 2019 Implementation Essentials

Question 1

Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

A. You need to submit the Extract Intercompany Reconciliation Data job.

B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.

C. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

D. The Transaction Summary Report shows only transactions with a status of received.

E. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

Correct Answer: C,E

Question 2

You are a functional user who has been tasked with creating an Oracle Transactional Business Intelligence (OTBI) analysis. You are still learning how to use OTBI, and the analysis you need to create is not complex.
Which tool should you use to create this analysis?

A. BI Publisher

B. BI Composer

C. BI Answers

D. Dashboard Builder

Correct Answer: A

Question 3

Which statement is true about AutoAccounting?

A. AutoAccounting is set up at the Legal Entity level.

B. You cannot override the default General Ledger accounts thatAutoAccounting creates.

C. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

D. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.

Correct Answer: C

Question 4

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

A. credit card refunds

B. late charges

C. Lockbox and Lockbox Transmission Formats

D. Receipt Sources

E. Receipt Classes and Receipt Methods

Correct Answer: C,D,E

Question 5

Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?

A. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.

B. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.

C. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.

D. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL

Correct Answer: C

Question 6

Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.
What should you do to meet this requirement in an efficient manner?

A. Create an Oracle Transactional Business Intelligence (OTBI) analysis.

B. Search in the Payables "Manage Payments" page, then export results to Excel.

C. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.

D. Run the predefined Transaction Details Report.

Correct Answer: A

Question 7

Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?

A. Assign a COMMON reference data set to the business units, which share the account addresses.

B. Create a separate reference data set for each business unit and assign it to each unit.

C. Assign an enterprise reference data set to the business units, which share the account addresses.

D. Create a new reference data set for account addresses and assign it to the business units.

Correct Answer: A

Question 8

After a customer bankruptcy is approved, what happens in the Collections application?

A. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.

B. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

C. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.

D. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.

Correct Answer: D

Oracle Financials Cloud: Receivables 2019 Implementation Essentials - 1Z1-1056 Exam Practice Test

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