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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
1. Which two statements are true regarding the Promise to Pay feature in the Collections application?
A) You can cancel a promise made in error if it is before the promise due date.
B) Mass promise to pay amounts automatically become partial payments.
C) You cannot cancel a promise made in error if it is before the promise due date.
D) Promise information is updated by scheduling the Promise Reconciliation process.
2. A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
A) after 100 days
B) only after manual intervention
C) after 60 days
D) immediately
3. Which three transaction types are used to generate late charges? (Choose three.)
A) Credit Memo
B) Debit Memo
C) Adjustments against the original transaction
D) Interest Invoice
E) Cash Receipts
4. Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
A) The transaction date falls in a closed period.
B) The transaction type is not associated with a credit memo type.
C) The transaction is an invoice.
D) The transaction is partially paid.
E) The invoice is not closed.
5. Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
A) Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
B) No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
C) The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
D) The program allows table hierarchies for customer bank accounts, but not for other customer information.
E) The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: A,C,D | Question # 4 Answer: B | Question # 5 Answer: A |
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