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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
1. Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?
A) Description Rule
B) Mapping Set
C) Transaction References
D) Supporting References
2. Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Define Remittance Bank Account where:
Bank Account is associated with Receipt Method
Primary bank account is linked the Denver branch of Bank of America
Bank account number ends with 2870
Remittance bank account is effective as of January 1, 2023
GL Accounts section must contain the values below for company segment 120 Supremo Fitness
3. Which method is used to allocate total transaction price across performance obligations in Revenue Management?
A) Relative Allocation Method
B) Alternative Allocation Method
C) Inverted Allocation Method
D) Residual Allocation Method
E) Two Step Allocation Method
4. In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.
At which details?
A) Site
B) Customer
C) Site Address
D) Party
E) Account
F) Organization
5. Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
A) drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
B) drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
C) drilldown to see reconciliation details and to make reconciling corrections
D) drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
E) drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
Solutions:
Question # 1 Answer: D | Question # 2 Answer: Only visible for members | Question # 3 Answer: E | Question # 4 Answer: A | Question # 5 Answer: A,B,D |
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