Q1) Identify three purposes for which transaction types can be used. (Choose Three)?
A. To record how cash can be applied to transactions
B. To set whether AutoInvoice validates transaction using IDs or Values.
C. To set whether transactions affect the Accounts Receivable customer balances
D. To record the accounting flexfield value that would be used for the cash account for transactions.
E. To record the accounting flexfield value that would be used for the receivable account for transactions.
F. To set transaction number to be either assigned automatically or entered manually for transactions.
Answer: A,C,E
Q 2) Justin is reviewing the clients draft training documents about the Order to Cash life cycle business processes. Identify four steps that are included in the Order to Cash life cycle (choose four)?javascript:void(0)
A. Launching pick release.
B. Performing Credit Check
C. Reconciling Bank Statements.
D. Running AutoInvoice to Receivables.
E. Generating the move order manually.
Answer: A,B,C,D
Q3) A clerk from XYZ Inc., receives a customer receipt that does not have sufficient information to identify the customer or invoice. Which is correct method of entering the receipt in Oracle Accounts Receivable?
A. Enter the receipt as an unapplied receipt.
B. Enter the receipt as an unidentified receipt.
C. Enter the receipt as an on-account receipt.
D. Enter the receipt as a miscellaneous receipt.
E. Enter the receipt by applying it to a dummy customer account.
Answer: B
Q4) Identify two statements that apply to Oracle Collections (Choose Two) ?
A. It is web based self service application.
B. It can be used to place an invoice in dispute.
C. It enables customers to see their own Oracle Receivables account information, such as balances.
D. It can be used to initiate the Oracle Approvals Management (AME) credit memo request workflow from Oracle Collections.
Answer: B,D
Q5) The end users at XYZ Ltd noticed several AutoInvoice exceptions and requested you help in correcting them. Which window allows you to edit data?
A. Line Errors Window.
B. Interface Lines Window.
C. Interface Exceptions window.
D. Interface Corrections window.
Answer: B
Q 6) The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the Miscellaneous receipt needs to be reversed. Which method would you advise the client to use
A. Carry out a standard reversal of the miscellaneous receipt.
B. Carry out a debit memo reversal of the miscellaneous receipt.
C. Create a receivable activity adjustment for the reversal of the miscellaneous receipt.
D. Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.
E. Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.
Answer : A
Q 7) Which rule must be applied when using the summary accounts to create a mass allocation journal?
A. Constant (C ) must be assigned to each rollup group that is used in formula line.
B. Summing (S) must be assigned to each rollup group that is used in the formula line, so that the related child values are summarized.
C. Looping (L) must be assigned to each rollup group that is used in the formula line, so that the associated child values are incorporated in the calculation.
Answer: A
Q 8 ) The head office of XYZ Corporation is at Maryland USA and it has a branch in Tokyo. Their ledgers have the same chart of accounts and calendar. The Maryland ledger uses USD, whereas the Tokyo ledger uses the JPY as the functional currency. XYZ corporation has a requirement that all its branch transactions subledger journals, General Ledger journal entries, and balances at Tokyo will have to be routinely reported in USD to Maryland. As an implementation consultant which reporting currency conversion would you suggest for XYZ corporation?
A. Balance level reporting currency only.
B. Subledger level reporting currency only.
C. Both journal –level and balance level reporting currency.
D. Both subledger level and balance level reporting currency.
Answer: B
Q9) Which statement best describes stages in the credit review process?
A. Initiating a credit review, data collection, data analysis, making and implementing the recommendations.
B. Defining a profile class assigning it to customers setting up the scoring model and starting the workflow background process.
C. Manually reviewing customer past billing and payment history initiating discussions with customers, and implementing recommendations.
D. Manually initiating a review by sending out mails to customers requesting information, reviewing and making recommendations, and implementing recommendations after approval.
Answer: A
Q10) Identify the receivables activity type where you are unable to select the tax rate code source option of invoice.
A..Adjustment
B. Earned Discount.
C. Unearned Discount.
D. Miscellaneous Cash.
Answer: D
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