1z1-962 by Oracle Actual Free Exam Q&As

Question 1

The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)

A. clearing payment information B. credit reversal C. change of instrument D. debit memo reversal E. receipt reversal

Discussion 0

Correct Answer: A,C,E Vote an answer

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Question 2

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. Customer C. AutoMatch Rule D. System Options

Discussion 0

Correct Answer: B,D Vote an answer

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Question 3

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. The invoice is sent for a dunning follow-up. B. The invoice is eligible for transfer to the General Ledger. C. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No. D. The invoice can now be printed. E. Payment schedules are created using the payment terms specified.

Discussion 0

Correct Answer: A,D,E Vote an answer

Question 4

Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.

A. The transaction is an invoice. B. The transaction is partially paid. C. The invoice is not closed. D. The transaction type is not associated with a credit memo type. E. The transaction date falls in a closed period.

Discussion 0

Correct Answer: D Vote an answer

Question 5

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

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

Discussion 0

Correct Answer: B,C,E Vote an answer

Question 6

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

Discussion 0

Correct Answer: C Vote an answer

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Question 7

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

A. miscellaneous receipt B. manual receipt C. AutoLockbox receipt D. quick cash receipt E. automatic receipt

Discussion 0

Correct Answer: E Vote an answer

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Question 8

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 60 days B. immediately C. only after manual intervention D. after 100 days

Discussion 0

Correct Answer: D Vote an answer

Oracle Financials Cloud: Receivables 2017 Implementation Essentials - 1z1-962 Exam Practice Test