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

Which three transaction types are used to generate late charges? (Choose three.)

Cash Receipts
Adjustments against the original transaction
Credit Memo
Debit Memo
Interest Invoice

Correct answer: BCE

Explanation:

Reference https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)

Lockbox Transmission History
Create Automatic Receipts
Correct Funds Transfer Errors
Create Receipt Remittance Batch
Manage Receipt Remittance Batches

Correct answer: BDE

What information does the Collector see in the Activities List area of the Collections Dashboard?

customer’s profile for each assigned customer
customer search as per the parameter specified
status of processing activities from the Process Monitor
tasks assigned to the Collector, such as follow-up calls
summary of aged transactions

Correct answer: D

Explanation:

Reference: https://docs.oracle.com/cd/E48434_01/doc.1118/e49609/F1113012AN1EA2A.htm

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?

scheduled processes
system privileges
user application privileges
the employees who are involved with the collections process and how the collectors will be assigned
customer contact information

Correct answer: D

Explanation:

Reference: http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F569978AN6AE6F.htm

You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.

Which actions are true? (Choose two.)

If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.

Correct answer: CD

Explanation:

For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications. Reference: https://docs.oracle.com/cloud/farel9/financialscs_gs/FAOFC/F1479830AN29E86.htm

For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.

Reference: https://docs.oracle.com/cloud/farel9/financialscs_gs/FAOFC/F1479830AN29E86.htm

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

Two Step Allocation Method
Inverted Allocation Method
Alternative Allocation Method
Relative Allocation Method
Residual Allocation Method

Correct answer: A

Explanation:

Reference: https://www.oneglobesystems.com/hubfs/Implement%20ASC%20606%20and%20IFRS%2015.pdf?t=1497997255933

In what three ways will changing customer information impact the collection process? (Choose three.)

Changing information on the Profile tab does not have an impact on the level at which collections are done.
Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
Making changes on the Profile tab impacts the collection process.
Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
Changing the Collector impacts the individual working with the delinquent customer.

Correct answer: BCE

Explanation:

Reference: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113012AN1EA2A.htm

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?

only after manual intervention
after 100 days
immediately
after 60 days

Correct answer: B

To determine the best approach to converting a client’s data, you must know which setup is set-enabled and can be shared.

Identify three set-enabled setups in Receivables. (Choose three.)

Collectors
Standard Memo Lines
Revenue Types
Receivable Specialists
Revenue Contingencies

Correct answer: BCE

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?

Net 45 (Enterprise Set), Net 45 (USA Set)
Net 30 (Enterprise Set), Net 45 (Enterprise Set)
Net 30 (Enterprise Set), Net 45 (USA Set)
1%/10 Net 30 (USA Set), Net 45 (USA Set)

Correct answer: B

Vendor:	Oracle
Exam Code:	1z0-962
Exam Name:	Oracle Financials Cloud: Receivables 2017 Implementation Essentials
Date:	Dec 01, 2017
File Size:	32 KB

Download Oracle Financials Cloud: Receivables 2017 Implementation Essentials.1z0-962.TestKing.2017-12-01.43q.vcex

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