Oracle Financials Cloud: Receivables 2017 Implementation Essentials (1z1-962) Free Practice Test

Question 1

Which two determinant types are used in reference data assignment? (Choose two.)

A. Account Segment

B. Business Unit

C. Project Segment

D. Project unit

Correct Answer: B,D

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Question 2

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

A. AutoCash Rules

B. Aging Methods

C. AutoMatch Rule Sets

D. Revenue Scheduling Rules

E. Customer Site

Correct Answer: E

Question 3

When running the delinquency process for a customer, the business unit for which you want to run the process does not appear in the drop-down menu.
Identify the action that you need to take.

A. Business unit is not a required option on the Parameters tab to run the delinquency process.

B. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.

C. Only business units that the user has access to will appear in the list of values. Modify the security options to provide access to the user.

D. Select the check box to enter the default business unit if it does not appear in the drop- down menu.

Correct Answer: C

Question 4

Which statement is true about Balance Forward Billing?

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

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

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

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

Correct Answer: D

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Question 5

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

B. Create an open debit memo.

C. Apply, reverse, or process the receipt.

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

Correct Answer: A

Question 6

Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)

A. Average

B. Declining Balance

C. Compound

D. Flat Rate

E. Simple

Correct Answer: C,D,E

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Question 7

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A. Alternative Allocation Method

B. Inverted Allocation Method

C. Residual Allocation Method

D. Two Step Allocation Method

E. Relative Allocation Method

Correct Answer: D

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Question 8

You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose two.)

A. Pending My Approval

B. Approved

C. Pending My Research

D. Pending Approval From Managers

E. Pending Approval

Correct Answer: A,C

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Oracle Financials Cloud: Receivables 2017 Implementation Essentials (1z1-962) Free Practice Test