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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
1. The AutoAc counting rule for the Revenue account is defined as follows:
When entering a manual invoice, the revenue account code combination is incomplete with the Department segment left blank. Which are the three reasons for this?
A) Revenue Reference Accounts were entered for all salespersons.
B) Revenue Reference Accounts for Salesperson were not defined for the Transaction Business Unit
C) Transaction Type was defined as Overapplication set to Yes but Post to GL set to No.
D) No Sales Credit salesperson has no reference accounts.
E) Salesperson is not required on the transaction and is left blank.
2. Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
A) Accounts Receivable Manager
B) Billing Specialist
C) Revenue Manager
D) Accounts Receivable Specialist
3. Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)
A) Deposit
B) Charge Back
C) Guarantee
D) Credit Memo
E) Debit Memo
4. What validation step is required for implementing dispute processing?
A) Periods for which the transaction can be disputed are Open.
B) All transactions are of the invoice type.
C) The Recognize Revenue Program is scheduled.
D) BPM Work List for approval configuration is validated.
5. Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
A) Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
B) The payable options and the receivable system options should have the same tax application options.
C) First enter a payable transaction to calculate tax and then enter the receivable transaction.
D) Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
E) Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
F) Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
Solutions:
Question # 1 Answer: A,D,E | Question # 2 Answer: D | Question # 3 Answer: D,E | Question # 4 Answer: D | Question # 5 Answer: B,E |