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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?

A) By creating an on-account credit memo
B) By generating a bills receivables adjustment
C) By recording an entry to the Remitted Bills Receivable account
D) By recording short-term debt

2. What are the three setup steps required to implement the Lockbox feature? (Choose three.)

A) credit card refunds
B) Receipt Sources
C) Lockbox and Lockbox Transmission Formats
D) late charges
E) Receipt Classes and Receipt Methods

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

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

4. 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 activity adapt the new billing cycle.
C) New transactions after this change inherit the new billing cycle.
D) Existing transactions with no activity retain the old billing cycle.

5. 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 Rejected 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 Pending Approval 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.

Solutions: