Vendor : Oracle

Exam Name : Oracle Financials Cloud: Receivables 2021 Implementation Essentials

Exam Code : 1Z0-1056-21

Product Questions : 112

Version : 21.1
NO.1 You are creating a remittance bank account for the factored with recourse bills receivable remittance
receipt method.
Which bank account setup controls receipt application to short-term debt?
A. short-term debt clearing days
B. risk elimination days
C. clearing days
D. collection days
E. lead days
F. recall days
Answer: A

NO.2 Which predefined dunning letter template is available in the Collections application
A. Regular, Medium, Hard, Difficult
B. Soft, Medium, Hard, Final
C. Regular, Medium, Hard, Easy
D. Soft, Regular, Medium, Hard
Answer: B

NO.3 What are the three drilldown options available in the task pane for Receipt Remittance? (Choose
three.)
A. Lockbox Transmission History
B. Create Automatic Receipts
C. Correct Funds Transfer Errors
D. Create Receipt Remittance Batch
E. Manage Receipt Remittance Batches
Answer: B,D,E

NO.4 Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
A. Import Payables Invoices Duty
B. Receipt Creation Duty
C. Trading Community Hierarchy Management Duty
D. Payment Settlement Management Duty
Answer: A,D

NO.5 There are a few customers that you do not want to send dunning letters to. How would
you exclude these customers from dunning?
A. Disable Send Dunning Letter in Transaction Source Type.
B. Disable Send Dunning Letter on the Correspondence tab.
C. Disable Send Dunning Letter in Collections Preferences.
D. Disable Send Dunning Letter on the Profile tab.
E. Disable Send Dunning Letter in Transaction Type.
Answer: D
NO.6 Which two determinant types are used in reference data assignment? (Choose two.)
A. Business Unit
B. Account Segment
C. Project Segment
D. Project unit
Answer: A,D

NO.7 Which information does the collector see after clicking on the Activities Infotile in the
Collections Work Area?
A. Tasks assigned to the collector such as follow-up calls.
B. Summary of aged transactions.
C. List of broken payment promises.
D. List of delinquent customers.
Answer: A

NO.8 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. system privileges
C. user application privileges
D. the employees who are involved with the collections process and how the collectors will be
assigned
E. customer contact information
Answer: D

NO.9 Which two statements are true about Accounting for Tax on Receivables? (Choose two.)
A. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of
Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax
account from auto-accounting.
C. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that
is defined on the receivable activity.
D. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the
tax code.
E. For Credit memos, if the profile " AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables
derive the item distribution from the invoice and the tax account from auto-accounting.
F. For Credit memos, if the profile " AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables
derive the tax account from auto-accounting.
Answer: C,E

NO.10 The process of remitting receipts to a bank results in fund transfer errors. Identify
three corrective actions to resolve this. (Choose three.)
A. receipt reversal
B. clearing payment information
C. credit reversal
D. debit memo reversal
E. change of instrument
Answer: A,B,E

NO.11 You are explaining the benefits of using Bill Management as a self-service electronic bill presentment
solution to an existing customer.
Which feature is not supported in Bill Management?
A. Making payments by using a credit card or the bank account
B. Managing unapplied payments
C. Managing credit memos
D. Reviewing customer account balances
E. Managing disputes
Answer: A

NO.12 What is required to register an external user to Bill Management?

A. a customer account contact with the responsibility types bill to and ship-to
B. a customer account contact with a valid mailing address
C. a customer account contact with a valid mobile number
D. a customer account contact with a valid email address
Answer: A

NO.13 Your Customer Upload Batch with an error and you identify the error as being due to an incorrect
Payment Method.
How will you correct the error?
A. by using the Customer Import Interface work area
B. by using the correct Customer Payment Method spreadsheet
C. by using the correct Customer Data spreadsheet
D. by importing the correct data by using a new spreadsheet upload
Answer: B

NO.14 Which two are rules applicable to issue of refunds? (Choose two.)
A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
B. You can refund receipts that were either remitted or cleared.
C. You can issue a credit card refund to a customer who has made a cash payment.
D. You can refund receipts that are factored.
Answer: A,B

NO.15 What information does the Collector see in the Activities List area of the Collections
Dashboard?
A. customer's profile for each assigned customer
B. customer search as per the parameter specified
C. status of processing activities from the Process Monitor
D. tasks assigned to the Collector, such as follow-up calls
E. summary of aged transactions
Answer: D

NO.16 You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in
the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for
the import failure.
A. an inactive Journal Line Type
B. an inactive Accounting Method
C. an inactive Mapping Set
D. an inactive Journal Entry Rule Set
Answer: C

NO.17 In what three ways will changing customer information impact the collection process? (Choose three.)
A. Changing information on the Profile tab does not have an impact on the level at which collections are
done.
B. Adding or modifying customer contact name on the Contacts tab impacts where the
correspondence is sent.
C. Making changes on the Profile tab impacts the collection process.
D. Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
E. Changing the Collector impacts the individual working with the delinquent customer.
Answer: B,C,E

NO.18 A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval
limit.
What is the status of the adjustment?
A. Pending Approval
B. Forwarded for Approval
C. Pending Research
D. Approval Required
Answer: A

NO.19 A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due
in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?
A. Search for the information in the Review Customer Account Details user interface.
B. Apply, reverse, or process the receipt.
C. Create an open debit memo.
D. Search for open invoices on the Manage Transaction search page.
Answer: A

NO.20 What do you need to total in order to find the total transaction price for a customer contract that is
calculated by Revenue Management?
A. the extended SSP amounts for all performance obligations in the customer contract
B. the SSP amounts for all performance obligations in the customer contract
C. the selling price for all performance obligations in the customer contract
D. the allocated amount for all performance obligations in the customer contract
E. the billing amount for all performance obligations in the customer contract
Answer: E

NO.21 A client rents equipment for special events. They have the following invoicing requirements: invoice must
De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue
Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all
lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?
A. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as
Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event
Date.
B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as
Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as
Payment.
D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as
Milestone Billing, and Optional Removal Event as Fulfillment Date.
Answer: C

NO.22 If AutoAccounting is set to derive accounting segments based on a standard line, the transaction
line must be either or . Otherwise,
AutoAccounting cannot derive a valid account code combination for revenue recognition. Identify the
two values. (Choose two.)
A. a standard memo line
B. a purchasing item
C. a credit memo line
D. an inventory item
E. a debit memo line
Answer: A,D

NO.23 Where is the summary delinquency data displayed In the Collections Work Area?
A. Transactions Tab
B. History Tab
C. Profile Tab
D. Aging Tab
Answer: D

NO.24 Your customer wants to retrieve values for the Line of Business segment based on Customer Class for
the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?
A. Mapping Set
B. Supporting References
C. Transaction References
D. Description Rule
Answer: B

NO.25 The method that is used to capture receipts data in mass while you are offline and upload the receipts at
a later date is called .
A. automatic receipts creation
B. receipts creation in a spreadsheet
C. manual receipt entry
D. Lockbox receipts creation
Answer: B

NO.26 Identify the receivables system option that relates to customers.

A. Reciprocal Customer
B. Receipt Method
C. Default Country
D. Automatic Site Numbering
Answer: B,C

NO.27 Which two initial tasks need to be completed in the Customer Account Profile page in order to
generate and deliver XML invoices under the OAGIS (Open Applications Group Integration Specification) 10.1
format?
A. Select the Enable OAGIS 10.1 XML Format Check Box
B. Set Preferred Delivery Method to XML
C. Set Preferred Delivery Methods to Email
D. Set Preferred Contact Method to XML
E. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes
Answer: D,E

NO.28 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 Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
B. Create an Oracle Business Intelligence Applications (OBIA) Report.
C. Query each customer refund and verify the Refund Status.
D. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
Answer: D

NO.29 Which statement is true about Balance Forward Billing?

A. Balance Forward Bills must be enabled at each bill-to-site level.
B. Balance Forward Bills can be created for a future date.
C. Transactions included on a Balance Forward Bill can be updated.
D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance
Forward Bill of the current cycle.
Answer: A

NO.30 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 Number
C. Transaction Source
D. Transaction Date
Answer: B

NO.31 What are the two locations where the system can look for Receipt Match By Value when Receivables
applies customer payments automatically for manually created receipts? (Choose two.)
A. Receipt Method
B. AutoMatch Rule
C. Customer
D. System Options
Answer: C,D

NO.32 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?
A. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at
system options.
D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the
receipt method.
E. Set the payment terms revenue recognition policy to look for Line First and Tax Later.
Answer: C
NO.33 Which transactions are included when transactions of specified customers are selected in the Create
Balance Forward Billing Program?
A. transactions that have the Print Option set to Do Not Print
B. transactions that have the selected payment terms
C. transactions have a Bill Type of Imported
D. transactions that were included in a previous Balance Forward Bill
Answer: B

NO.34 Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
A. Revenue Manager
B. Accounts Receivable Manager
C. Accounts Receivable Specialist
D. Billing Specialist
Answer: C

NO.35 You are utilizing the " Upload Customer From Spreadsheet" option. What information on the Customer
Worksheet must be unique for each customer record?
A. Customer Number, Customer Account Number, Customer Site Number
B. Customer Name, Customer Billing Address, Customer Bank Account
C. Customer Name, Customer Account Number, Customer Site Number
D. Customer Number, Customer Billing Address, Customer Bank Account
Answer: A

NO.36 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. only after manual intervention
B. after 100 days
C. immediately
D. after 60 days
Answer: B

NO.37 Your customer upload batch completes with an error and you identify the error as being due to
incorrect payment method.
Which action should you take the resolve the Issue?
A. Use the Customer Data Exceptions spreadsheet.
B. Use the Customer Payment Method Exceptions spreadsheet.
C. Troubleshoot In the Manage Customers page.
D. Correct error and resubmit the batch.
Answer: B
NO.38 When a customer opts to make a payment by a credit card, this receipt is identified as a(n)
.
A. miscellaneous receipt
B. quick cash receipt
C. manual receipt
D. automatic receipt
E. AutoLockbox receipt
Answer: D

NO.39 In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement
Model (SMM) in Revenue Management to recognize revenue for performance obligations over time?
(Choose two.)
A. by setting SM to "Requires Complete" and SMM to "Period"
B. by setting SM to " Allow Partial" and SMM to "Percent"
C. by setting SM to " Allow Partial" and SMM to "Period"
D. by setting SM to "Requires Complete" and SMM to " Quantity"
E. by setting SM to "Requires Complete" and SMM to "Percent"
Answer: C,E

NO.40 Company ABC wants their logo displayed in all customer invoices. How do you meet this business
requirement?
A. Use Web Services to integrate with an external system that can handle this requirement.
B. Modify the Invoice Print Layout Bill Presentment Template.
C. Enable the setting " Allow Change to Printed Transactions" in Receivables System Options.
D. Extend the "Print Receivables Transactions" program.
Answer: A

NO.41 What are the three setup steps required to implement the Lockbox feature? (Choose three.)
A. Receipt Classes and Receipt Methods
B. late charges
C. Lockbox and Lockbox Transmission Formats
D. Receipt Sources
E. credit card refunds
Answer: A,C,D

NO.42 You are a functional user who has been tasked with creating an Oracle Transactional Business Intelligence
(OTBI) analysis. You are still learning how to use OTBI, and the analysis you need to create is not
complex.
Which tool should you use to create this analysis?
A. BI Answers
B. BI Composer
C. BI Publisher
D. Dashboard Builder
Answer: C

NO.43 Your customer has three business units. The customer wants to share customer account addresses
across these business units.
Which reference data set can be used to achieve this?
A. Create a new reference data set for account addresses and assign it to the business units.
B. Assign a COMMON reference data set to the business units, which share the account addresses.
C. Assign an enterprise reference data set to the business units, which share the account addresses.
D. Create a separate reference data set for each business unit and assign it to each unit.
Answer: B

NO.44 Which two statements are true about processing Receivables adjustments that impact tax amounts?
A. Receivables can look at invoice and retrieve the tax rate code.
B. There is no need to retrieve the tax rate code.
C. Receivables can look at the adjustment activity and retrieve the tax rate code.
D. Receivables can look at System Options and retrieve the tax rate code.
Answer: A,D

NO.45 If the Contract Identification Rules that you defined for your customer did not group the source data
into customer contracts as expected, how would you resolve the issue?
A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
B. Delete the source data that was imported into Revenue Management and import new source data.
C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify
Customer contracts program again.
D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher- priority
Contract Identification Rule, and run the Identify Customer Contracts program again.
E. Delete Contracts from the Manage Customer Contracts UI.
Answer: D

NO.46 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. 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.
B. The program allows table hierarchies for customer bank accounts, but not for other customer
information.
C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in
the customer information.
D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the
hierarchy of data in the customer information.
E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not
Accounts Receivable.
Answer: D

NO.47 When running the delinquency process for a customer, the business unit for which you want to run the
process does not appear in the drop-down menu.
Identify the action that you need to take.
A. Business unit is not a required option on the Parameters tab to run the delinquency process.
B. Only business units that the user has access to will appear in the list of values. Modify the security options
to provide access to the user.
C. Select the check box to enter the default business unit if it does not appear in the drop-down menu.
D. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-
down menu.
Answer: B

NO.48 If the Contract Identification Rules that you defined for your customer did not group the source data
into customer contracts as expected, how would you resolve the issue?
A. Run the Discard Customer Contracts program for the relevant contracts and run the Identify
Customer contracts program again.
B. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher- priority
Contract Identification Rule, and run the Identify Customer Contracts program again.
C. Delete the source data that was imported into Revenue Management and import new source data.
D. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
E. Delete Contracts from the Manage Customer Contracts UI.
Answer: B

NO.49 In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of
Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA. Which three statements
are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose
three.)
A. Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
B. Customer Japan can pay its own transactions.
C. Customer USA can pay for Customer West and its own transactions.
D. Customer Japan can pay for Customer West, Customer USA, and its own transactions.
E. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own
transactions.
Answer: B,C,D

NO.50 You schedule print runs of transactions and balance forward bills according to the needs of your
enterprise.
Which three statements are true? (Choose three.)
A. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
B. If you have printed a transaction, the View Print button will not display a preview of the print.
C. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction
according to the default template in BI Publisher.
D. It is recommended that you always print directly from BI Publisher to give you more control over the
templates in case you need to change them.
E. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
Answer: C,D,E

NO.51 Identify the dunning letter template set provided by an application.

A. Soft, Regular, Hard
B. Regular, Medium, Hard
C. Final Demand, Soft, Medium
D. Regular, Final Demand, Medium
Answer: C

NO.52 Which statement is true about AutoAccounting?

A. AutoAccounting is set up at the Legal Entity level.
B. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and
displays an incomplete accounting flexfield.
C. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you
import by using AutoInvoice.
D. You cannot override the default General Ledger accounts thatAutoAccounting creates.
Answer: B

NO.53 The Billing Manager has navigated to the Billing Work Area to review incomplete
transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent
incomplete transactions?
A. 20+ Days Link
B. 0-10 Days Link
C. 0-5 Days Link
D. 10+Days Link
Answer: B

NO.54 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. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February
28, 2015.
C. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March
30, 2015.
D. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
E. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31,
2015.
F. Two Bills Receivable transactions are created with the issue date and accounting date as January 29,
2015 and January 31, 2015, respectively.
Answer: D

NO.55 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. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
B. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for
Customer
C. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
D. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new
invoice for Customer B.
Answer: A

NO.56 Identify two values that default from Customer Profile Classes. (Choose two.)
A. Business Purpose
B. Statement Cycle
C. Legal Entity
D. Tax
E. Payment Terms
Answer: D,E

NO.57 Which two items are required for customer invoicing? (Choose two.)
A. Lockbox
B. Customers
C. Remit-to-address
D. Customer Profile Class
Answer: A,D

NO.58 Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
A. The invoice is not closed.
B. The transaction is partially paid.
C. The transaction type is not associated with a credit memo type.
D. The transaction date falls in a closed period.
E. The transaction is an invoice.
Answer: C

NO.59 Which configuration step is required for processing Collections disputes?

A. Define Aging Method to be used with disputed transactions.
B. Define Dispute Thresholds in Collections Preferences.
C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
Answer: B

NO.60 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?
A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds
the Billing Specialist's approval limits.
B. The program can be run only if the amount is within the Billing Specialist's approval limits.
C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing
Specialist's approval limits.
D. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
Answer: A
Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj

NO.61 Which statement is true when you create an Implementation Project for Oracle Financials Cloud?
A. The Implementation Project is preconfigured and cannot be deleted or changed.
B. You must plan your Implementation Project carefully because you cannot delete it or make changes
later.
C. You must select the offering " Financials" and each individual product or option to perform the setup for
each product in Oracle Financials Cloud.
D. When you select the offering " Financials," it automatically allows you to perform the setup for all Oracle
Financials Cloud products.
E. You need to make only the project name unique, and then you can perform the setup for any
product family, such as Financials, Procurement, Human Capital Management, and Supply Chain
Management.
Answer: E

NO.62 Which three receipts can be automatically applied by the " Apply Receipts Using AutoMatch" process?
A. Receipts that are manually created.
B. Miscellaneous receipts.
C. eceipts created from a lockbox and uploaded.
D. Receipts created in a spreadsheet and uploaded.
E. Receipts with unapplied amounts.
Answer: A,C,D

NO.63 When you move revenue on an invoice line from an unearned account to an earned revenue account,
Receivables .
A. removes the invoice line revenue contingencies
B. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
C. removes the pending sales credits
D. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
Answer: A

NO.64 If a receipt cannot be automatically matched or transaction information is not available, Receivables
can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
A. System Options
B. Receipt Class
C. Customer Site
D. Receipt Method
E. Customer Account
Answer: C,D,E
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set
defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer
does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to
system options and the number of discount grace days defined in the customer site or customer profile to
apply the receipt.

NO.65 When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a
number of questions about how to run the report.
Which statement is true?
A. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
B. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
C. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity
only.
D. You can select only a Closed accounting period.
Answer: C

NO.66 Identify three activities that you can perform from the Collections Dashboard. (Choose three.
)
A. Verify Customer Payments.
B. Assign a Collector to a delinquent customer.
C. View the Total Amount Due for delinquent customers.
D. Record an activity to create a task or tasks to follow up on a delinquent customer.
E. Update the work status of a work item for a delinquent customer.
Answer: B,D,E

NO.67 Identify two credit memo options. (Choose two.)

A. Tax only
B. Advance
C. Paid freight
D. Invoice lines
E. Paid amount only
Answer: A,D

NO.68 Your company wants to generate Intercompany transactions only if the amount Involved is equal to
or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
A. Set " Minimum Transaction Amount" to 3,000 and " Minimum entered Currency" to USD.
B. Set " Minimum Transaction Amount" to 2,999.99 and " Minimum Entered Currency" to ALL
C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the
minimum amount requirement.
D. Set " Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and
Receivables System Options.
Answer: D

NO.69 Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
A. drilldown to see reconciliation details and to make reconciling corrections
B. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-
of-balance condition
C. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General
Ledger
E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without
actually downloading to Excel
Answer: B,C,E
NO.70 Which two Collection Preferences can be selected as the default transaction class for the Transaction tab?
(Choose two.)
A. Debit Memo
B. Deposit
C. Charge Back
D. Credit Memo
E. Guarantee
Answer: A,D

NO.71 A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to
consumers. The entity has identified that this bundle is a distinct performance obligation. How would you
configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the
specified items contain different values for that attribute
B. by defining a grouping rule on the customer class
C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the
specified items contain the same value for that attribute
D. by defining an item group and assigning that to the rule
E. by defining an exclusion rule to exclude customer classes that are "Retail"
Answer: A

NO.72 Which three receipts can be automatically applied by a system? (Choose three.)
A. receipts that are unapplied
B. receipts created in a spreadsheet and uploaded
C. miscellaneous receipts
D. receipts that are manually created
E. receipts created in a lockbox and uploaded
Answer: C,D,E

NO.73 Which three transaction types are used to generate late charges? (Choose three.)
A. Cash Receipts
B. Adjustments against the original transaction
C. Credit Memo
D. Debit Memo
E. Interest Invoice
Answer: B,C,E
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

NO.74 What validation step is required for implementing dispute processing?

A. The Recognize Revenue Program is scheduled.
B. BPM Work List for approval configuration is validated.
C. Periods for which the transaction can be disputed are Open.
D. All transactions are of the invoice type.
Answer: B

NO.75 One of the customers pays its bills electronically from their bank account (Direct debit). Which
process do you need to run in Receivables to initiate the transfer of funds from their bank account to
your organization's bank account?
A. Clear Receipts Automatically Process
B. Remittance Process
C. Automatic Receipt Process
D. Lockbox Process
Answer: B

NO.76 What is the impact on transactions of changing the billing cycle for a customer or group of customers?
A. The billing cycle does not have any impact on new transactions.
B. Existing transactions with no activity retain the old billing cycle.
C. Existing transactions with activity adapt the new billing cycle.
D. New transactions after this change inherit the new billing cycle.
Answer: D

NO.77 Identify two late charge interest calculation methods. (Choose two.)
A. Previous Balance
B. Adjusted Balance
C. Overdue Transactions only
D. Average Daily Balance
Answer: C,D

NO.78 To determine the best approach to converting a client's data, you must know which setup isset- enabled and
can be shared.
Identify three set-enabled setups in Receivables. (Choose three.)
A. Collectors
B. Standard Memo Lines
C. Revenue Types
D. Receivable Specialists
E. Revenue Contingencies
Answer: B,C,E

NO.79 Which three actions can be performed in the Collections Work Area, which will have an impact
on the collection process?
A. Processing a payment promise in the Transactions Tab.
B. Creating a credit memo in the Transactions Tab.
C. Changing the collector in the Profile Tab.
D. Applying a customer payment in the Aging Tab.
E. Adding new customer contacts in the Contacts tab.
Answer: A,C,E

NO.80 After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the
Transactions window.
What are three results of this action? (Choose three.)
A. Payment schedules are created using the payment terms specified.
B. The invoice is sent for a dunning follow-up.
C. The invoice can now be printed.
D. The invoice is eligible for transfer to the General Ledger.
E. The invoice is included in the standard aging and collection process if the transaction type has the Open
Receivables option set to No.
Answer: A,B,C

NO.81 Your customer wants to override the calculated tax line amount for their receivable
transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?
A. Enable " Allow override of calculated tax lines" within the tax configuration owner options for the
receivable invoice event and grant the employee the "Tax Manager <Business Unit>" data role.
B. Enable the " Allow tax rate override" and " Allow manual tax lines" profiles at the user level, set, the value to Yes
for the selected employee, and grant the "Tax Manager <Business Unit>" data role to the employee.
C. Enable " Allow override of calculated tax lines" within the tax configuration owner options for the receivable
invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.
D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the
employee the "Tax Manager <Business Unit>" data role.
E. Enable " Allow override of calculated tax lines" within the tax configuration owner options for the
receivable application and create a tax rule to grant this privilege only to the selected employee. Answer: D

NO.82 What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)
A. creating write-offs for specific currencies and customers
B. limiting write-offs by a percentage of the original receipt amount
C. scheduling periodic write-offs as receipt adjustments for small remaining balances
D. scheduling periodic write-offs as receipt adjustments for old remaining balances
E. scheduling periodic write-offs to occur in future periods
Answer: A,B,C

NO.83 Which setup is required to ensure that the same tax is applied on both intercompany payable and
intercompany receivable invoices?
A. Intercompany invoicing must be enabled in Payables Invoice Options.
B. Same tax rate code must be populated in Intercompany System Options for both Payables and
Receivables invoices.
C. Intercompany invoicing must be enabled in Receivables System Options.
D. Receiver and provider business units and legal entities must be subscribed to the applicable tax regime
on the transaction date.
Answer: D

NO.84 Which three benefits do intercompany reconciliation reports provide to an accountant?

A. Comparing receivables and payables account balances and identifying discrepancies.
B. Displaying clearing company balancing lines.
C. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
D. Displaying intercompany receivables and payables balancing lines.
Answer: A,C,D

NO.85 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.)
A. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to
Protested.
B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to
Pending Remittance.
E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to
Unpaid.
Answer: C,D
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.

NO.86 Which four output file types are available when you run the "Print Receivables Transactions" program?
A. JPG
B. PDF
C. Excel
D. HTML
E. Word
F. Zipped PDFs
Answer: B,C,D,F
NO.87 You have been asked to assign a reference data set to a specific Business Unit for several Receivable
setups.
What are the navigational steps needed to accomplish this task?
A. Setup and Maintenance/Setup Dropdown: " Financials" /Functional Area: "Receivables" /Task: "
Manage Business Unit Set Assignment"
B. Setup and Maintenance/Setup Dropdown: " Financials" /Functional Area: "Legal Structures" /Task: "
Manage Business Unit Set Assignment"
C. Setup and Maintenance/Setup Dropdown: " Financials" /Functional Area: " Financial Reporting Structures" /Task:
" Manage Business Unit Set Assignment"
D. Setup and Maintenance/Setup Dropdown: " Financials" /Functional Area: " Organization Structures"
/Task: " Manage Business Unit Set Assignment"
Answer: A

NO.88 To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-
enabled objects with the exception of .
A. AutoMatch Rule Sets
B. AutoCash Rules
C. Revenue Scheduling Rules
D. Customer Site
E. Aging Methods
Answer: D

NO.89 Which two statements are true regarding the Promise to Pay feature in the Collections application?
A. Mass promise to pay amounts automatically become partial payments.
B. You cannot cancel a promise made in error if it is before the promise due date.
C. Promise information is updated by scheduling the Promise Reconciliation process.
D. You can cancel a promise made in error if it is before the promise due date.
Answer: A

NO.90 Where is the summary delinquency data displayed on the Collections Dashboard?
A. Activity tab
B. Correspondence tab
C. Profile tab
D. Aging tab
Answer: C

NO.91 You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose
two.)
A. Pending My Research
B. Pending Approval From Managers
C. Pending Approval
D. Pending My Approval
E. Approved
Answer: A,D

NO.92 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?
A. Sites 1, 2, and 3 activities will be included in a single bill.
B. Sites 2 and 3 activities will be included in a single bill.
C. Sites 1 and 2 activities will be included in a single bill.
D. Sites 1 and 3 activities will be included in a single bill.
Answer: C

NO.93 How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections
Dashboard?
A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a
Customer by a Collector.
B. Only a Collections Administrator can modify the strategy.
C. The Collector can modify the strategy from the Profile > Strategies tab.
D. The strategy can be modified from the Manage Customers page.
Answer: A

NO.94 What is the order used to group transaction lines during the AutoInvoice Import process?
A. Transaction Source, Customer Site Profile, Customer Account Profile, system options
B. System options, Customer Site Profile, Transaction Source, Customer Account Profile
C. Transaction Source, Customer Account Profile, Customer Site Profile, system options
D. Transaction Source, Customer Account Profile, system options, Customer Site Profile
Answer: A

NO.95 Which two are Late Charge Calculation Methods?

A. Credit Items and Disputed Transactions
B. Late Payments Only
C. Adjustment
D. Overdue Invoices Only
Answer: BD
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC

NO.96 An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the
Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been
issued against this invoice.
Explain how revenue accounting will occur.
A. Earned revenue will be debited for $50 USD.
B. Unearned revenue will be credited for $100 USD.
C. Earned revenue will be credited for $50 USD.
D. Unearned revenue will be debited for $50 USD.
Answer: C

NO.97 Your client processes many customer refunds on a regular basis and would like to have information
about recent refunds (including their status) for analytical purposes.
What should you do to meet this requirement in an efficient manner?
A. Create an Oracle Transactional Business Intelligence (OTBI) analysis.
B. Search in the Receivables " Manage Credit Memo Applications" page, then export results to Excel.
C. Run the predefined Transaction Details Report.
D. Search in the Payables " Manage Payments" page, then export results to Excel.
Answer: A

NO.98 Which is NOT a valid Infotile in the Accounts Receivables Work Area?
A. Unidentified Receipts
B. Lockbox Exceptions
C. Receipt Batches
D. Unapplied Receipts
E. Unapplied Credits
Answer: A

NO.99 When deciding how to set up the system to recognize revenue, it is important to understand the extent
of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency?
(Choose two.)
A. Time-based contingencies can expire, but the contingency will have to be removed manually before the
revenue is recognized if payment is not due yet.
B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system,
or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must
occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit
acceptance), before the contingency can be removed and revenue recognized.
D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
E. Payment-based contingencies do not always require payment before the contingency can be removed and
revenue recognized.
Answer: B,C

NO.100 What are the three seeded contract configuration rules that Revenue Management provides to
automatically create contracts? (Choose three.)
A. by Quote Number and time frame
B. by Source Document and time frame
C. by Item and time frame
D. by Customer and time frame
E. by Source Document Line andtime frame
Answer: B,C,E

NO.101 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.)
A. Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.
B. 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.
C. Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in
the Functional Setup Manager for Advanced Collections.
D. The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM)
application and a collector should be configured as a resource.
E. Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account,
and Site levels.
F. The customer does not have the default strategy and default collector assigned at the customer account
and site level.
Answer: B,C

NO.102 After a customer bankruptcy is approved, what happens in the Collections application?
A. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work
Area and customer status is changed to Bankrupt.
B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but
customer status is changed to Bankrupt.
C. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
D. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the
customer.
Answer: A

NO.103 Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a
transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
A. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
Answer: E

NO.104 Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)
A. Average
B. Flat Rate
C. Declining Balance
D. Simple
E. Compound
Answer: B,D,E

NO.105 Which method is used to allocate total transaction price across performance obligations in Revenue
Management?
A. Two Step Allocation Method
B. Inverted Allocation Method
C. Alternative Allocation Method
D. Relative Allocation Method
E. Residual Allocation Method
Answer: A

NO.106 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. Net 45 (Enterprise Set), Net 45 (USA Set)
B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
C. Net 30 (Enterprise Set), Net 45 (USA Set)
D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
Answer: B

NO.107 Which two statements are true about configuring Collection Strategies?
A. You need to create Scoring Formulae (or use predefined Scoring Formulas).
B. You need to define an Aging Method that meets the requirements of your organization.
C. You need to SGI the (Collections Method to Strategies for the relevant business unit.
D. You need to create Strategy Tasks of the type " Automatic" only.
Answer: AD

NO.108 Which two setups are required to ensure that the same tax is applied on both intercompany payable
and intercompany receivable invoices? (Choose two.)
A. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
B. The payable options and the receivable system options should have the same tax application options.
C. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
D. First enter a payable transaction to calculate tax and then enter the receivable transaction.
E. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and
purchase_transaction business category.
F. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable
tax regime on the transaction date.
Answer: B,F

NO.109 Which two statements are true when you are using the Intercompany Reconciliation Process?
(Choose two.)
A. The Transaction Summary Report shows only transactions with a status of received.
B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
C. The Reconciliation Period Summary Report shows the intercompany receivable and the
intercompany payable lines generated by the intercompany balancing feature.
D. The ledger balancing lines are generated when the primary balancing segment value is in balance but either
the second balancing segment or the third balancing segment is out of balance.
E. You need to submit the Extract Intercompany Reconciliation Data job.
Answer: C,D

NO.110 Which three benefits do intercompany reconciliation reports provide to an accountant?

A. Comparing receivables and payables account balances and identifying discrepancies.
B. Displaying intercompany receivables and payables balancing lines.
C. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
D. Displaying clearing company balancing lines.
Answer: A,B,C

NO.111 When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments
created?
A. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
B. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
C. automatically by using the Adjustment Reversal and Chargeback Reversal activities
D. manually by using Chargeback Reversal activities
E. manually by using Adjustment Reversal activities
Answer: C
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-
setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.

NO.112 As a Billing Manager you are responsible for reviewing adjustments and approving them. Which
action is not available in the " Approve Adjustments" page?
A. Approve
B. Request Information
C. Reassign
D. Reject
E. Edit
Answer: C