1z1-962 Exam Training Practice Tests (Oracle Financials Cloud: Receivables 2017 Implementation Essentials)]

Question 1

Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?

A. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI). B. Create an Oracle Business Intelligence Applications (OBIA) Report. C. Query each customer refund and verify the Refund Status. D. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.

Correct Answer: A

Question 2

Which three receipts can be automatically applied by a system? (Choose three.)

A. receipts created in a lockbox and uploaded B. miscellaneous receipts C. receipts that are manually created D. receipts that are unapplied E. receipts created in a spreadsheet and uploaded

Correct Answer: A,B,C

Question 3

The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.
Identify the column.

A. Transaction Class B. Transaction Source C. Transaction Number D. Transaction Date

Correct Answer: C

Question 4

You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?

A. scheduled processes B. user application privileges C. system privileges D. customer contact information E. the employees who are involved with the collections process and how the collectors will be assigned

Correct Answer: E

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Question 5

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015. B. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015. C. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015. D. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively. E. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015. F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.

Correct Answer: C

Question 6

You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?

A. 1%/10 Net 30 (USA Set), Net 45 (USA Set) B. Net 30 (Enterprise Set), Net 45 (Enterprise Set) C. Net 30 (Enterprise Set), Net 45 (USA Set) D. Net 45 (Enterprise Set), Net 45 (USA Set)

Correct Answer: B

Question 7

A Billing Specialist has created and completed an invoice for $100 USD for Customer A.
The Specialist prints the invoice and realizes that the invoice should have been created for Customer B.
The accounting for the transaction for Customer A is posted to the General Ledger.
How can this be corrected?

A. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B. B. Create an adjustment for the entire amount and create a negative adjustment for Customer B. C. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B. D. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.

Correct Answer: B

Question 8

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. Customer Site C. Revenue Scheduling Rules D. AutoMatch Rule Sets E. Aging Methods

Correct Answer: B

Oracle Financials Cloud: Receivables 2017 Implementation Essentials - 1z1-962 Exam Practice Test