1z0-962: Oracle Financials Cloud: Receivables 2017 Implementation Essentials

Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.

How will bills be generated?

Sites 1, 2, and 3 activities will be included in a single bill.
Sites 2 and 3 activities will be included in a single bill.
Sites 1 and 2 activities will be included in a single bill.
Sites 1 and 3 activities will be included in a single bill.

Correct answer: C

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

Correct answer: D

You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.

Which two conditions are failing? (Choose two.)

Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.
The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.
Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.
The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.
Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.
The customer does not have the default strategy and default collector assigned at the customer account and site level.

Correct answer: BC

Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

Verify Customer Payments.
Assign a Collector to a delinquent customer.
View the Total Amount Due for delinquent customers.
Record an activity to create a task or tasks to follow up on a delinquent customer.
Update the work status of a work item for a delinquent customer.

Correct answer: BDE

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.

How would you achieve this?

Set the credit classification revenue recognition policy to look for Line First and Tax Later.
Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
Set the payment terms revenue recognition policy to look for Line First and Tax Later.

Correct answer: C

Explanation:

Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13510/T447343T355914.htm

Which two items are required for customer invoicing? (Choose two.)

Lockbox
Customers
Remit-to-address
Customer Profile Class

Correct answer: AD

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

Business Unit
Account Segment
Project Segment
Project unit

Correct answer: AD

Explanation:

Reference: https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIGL/F1493157AN1182C.htm

A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user’s approval limit.

What is the status of the adjustment?

Pending Approval
Forwarded for Approval
Pending Research
Approval Required

Correct answer: A

Explanation:

Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.

What would be the result?

The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
The program can be run only if the amount is within the Billing Specialist's approval limits.
The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.

Correct answer: A

Explanation:

Reference https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj

When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.

miscellaneous receipt
quick cash receipt
manual receipt
automatic receipt
AutoLockbox receipt

Correct answer: D

Explanation:

Reference: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113010AN18821.htm

Vendor:	Oracle
Exam Code:	1z0-962
Exam Name:	Oracle Financials Cloud: Receivables 2017 Implementation Essentials
Date:	Mar 16, 2019
File Size:	71 KB

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