Oracle Financials Cloud: Receivables 2022 Implementation Professional

QUESTION NO: 1
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 select only a Closed accounting period. D. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.

Correct Answer: D

QUESTION NO: 2
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. risk elimination days B. clearing days C. collection days D. lead days E. short-term debt clearing days F. recall days

Correct Answer: E

QUESTION NO: 3
Which two statements are true about Accounting for Tax on Receivables? (Choose two.)

A. For Adjustments, if the receivable activity tax rate code source is Invoice, 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 of the tax code. D. 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. E. 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. F. 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.

Correct Answer: A,F

QUESTION NO: 4
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. Customer Account B. System Options C. Receipt Class D. Receipt Method E. Customer Site

Correct Answer: A,D,E

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QUESTION NO: 5
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)

A. Trading Community Hierarchy Management Duty B. Import Payables Invoices Duty C. Payment Settlement Management Duty D. Receipt Creation Duty

Correct Answer: B,C

QUESTION NO: 6
As an Implementation Consultant, you want to define approval limits for Receivables.
Which two statements are correct? (Choose two.)

A. The approval limits are used by the auto adjustment program. B. The approval limits are set per user, document type, and currency. C. The approval limits per user and per currency are shared across the document types. D. The implementation user can create their own approval limits.

Correct Answer: C,D

QUESTION NO: 7
What is the order used to group transaction lines during the AutoInvoice Import process?

A. Transaction Source, Customer Account Profile, system options, Customer Site Profile B. Transaction Source, Customer Account Profile, Customer Site Profile, system options C. Transaction Source, Customer Site Profile, Customer Account Profile, system options D. System options, Customer Site Profile, Transaction Source, Customer Account Profile

Correct Answer: C

QUESTION NO: 8
Which two statements are true about processing Receivables adjustments that impact tax amounts?

A. There is no need to retrieve the tax rate code. B. Receivables can look at the adjustment activity and retrieve the tax rate code. C. Receivables can look at invoice and retrieve the tax rate code. D. Receivables can look at System Options and retrieve the tax rate code.

Correct Answer: C,D

QUESTION NO: 9
A Cloud customer requires enhanced message content in transactions delivered using email.
Which three are supported in the body of the message? (Choose three.)

A. Insert logos. B. Modify the fonts and font size. C. Prevent use of Dynamic Tokens. D. Increase the character limit to greater than 4000. E. Insert hyperlinks.

Correct Answer: A,B,E

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

Correct Answer: C,D,E

QUESTION NO: 11
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. Search for open invoices on the Manage Transaction search page. D. Create an open debit memo.

Correct Answer: A

Oracle Financials Cloud: Receivables 2022 Implementation Professional - 1z0-1056-22 Exam Questions