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

2. Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?

A) Query each customer refund and verify the Refund Status.
B) Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
C) Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
D) Create an Oracle Business Intelligence Applications (OBIA) Report.

3. A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?

A) Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
B) Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
C) Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
D) Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

4. What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)

A) creating write-offs for specific currencies and customers
B) scheduling periodic write-offs to occur in future periods
C) limiting write-offs by a percentage of the original receipt amount
D) scheduling periodic write-offs as receipt adjustments for small remaining balances
E) scheduling periodic write-offs as receipt adjustments for old remaining balances

5. You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?

A) customer contact information
B) the employees who are involved with the collections process and how the collectors will be assigned
C) user application privileges
D) scheduled processes
E) system privileges

Solutions: