1z0-962 by Oracle Actual Free Exam Questions And Answers

Question 1

Which statement is true about AutoAccounting?

A. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

B. You cannot override the default General Ledger accounts thatAutoAccounting creates.

C. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.

D. AutoAccounting is set up at the Legal Entity level.

Discussion 0

Correct Answer: A Vote an answer

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Question 2

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. Approved

B. Pending My Approval

C. Pending My Research

D. Pending Approval

E. Pending Approval From Managers

Discussion 0

Correct Answer: B,C Vote an answer

Question 3

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 credited for $50 USD.

B. Unearned revenue will be credited for $100 USD.

C. Earned revenue will be debited for $50 USD.

D. Unearned revenue will be debited for $50 USD.

Discussion 0

Correct Answer: A Vote an answer

Question 4

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 in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.

B. Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.

C. 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.

D. The customer does not have the default strategy and default collector assigned at the customer account and site level.

E. The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.

F. Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.

Discussion 0

Correct Answer: A,C Vote an answer

Question 5

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 the same value for that attribute

B. by defining an exclusion rule to exclude customer classes that are "Retail"

C. by defining a grouping rule on the customer class

D. 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

E. by defining an item group and assigning that to the rule

Discussion 0

Correct Answer: D Vote an answer

Question 6

Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)

A. Import Payables Invoices Duty

B. Receipt Creation Duty

C. Payment Settlement Management Duty

D. Trading Community Hierarchy Management Duty

Discussion 0

Correct Answer: A,C Vote an answer

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Question 7

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. Forwarded for Approval

B. Approval Required

C. Pending Approval

D. Pending Research

Discussion 0

Correct Answer: C Vote an answer

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Question 8

Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)

A. Deposit

B. Debit Memo

C. Charge Back

D. Guarantee

E. Credit Memo

Discussion 0

Correct Answer: B,E Vote an answer

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

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