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Oracle Financials Cloud: Receivables 2016 Implementation Essentials

Question No: 81

Your customer has three business units. The customer wants to share customer account addresses across these business units. Which reference data set can be used to achieve this?

  1. Create a separate reference data set for each business unit and assign it to each unit.

  2. Assign an enterprise reference data set to the business units, which share the account addresses.

  3. Assign a COMMON reference data set to the business units, which share the account addresses.

  4. Create a new reference data set for account addresses and assign it to the business units.

Answer: A

Question No: 82

Which two Collection Preferences can be selected as the default transaction class for the transaction tab?

  1. Guarantee

  2. Credit Memo

  3. Charge back

  4. Deposit

  5. Debit Memo

Answer: A,D

Question No: 83

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?

  1. Create a Business Intelligence Publisher Report because you cannot create an OIBI Report for

    refunds.

  2. Create an Oracle business Intelligence Applications, (OBIA) Report.

  3. Query each customer refund and verify the Refund Status.

  4. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).

Answer: A

Question No: 84

The common subledger period close management UI allows the user to .

  1. Manage the accounting period status.

  2. Balance the entries after they are transferred to the general ledger .

  3. Access all subledgers.

  4. Bill and automate customer payments for adjustment approval processing

  5. Transfer unbalanced entries to the general ledger.

Answer: A

Reference: Oracle Fusion Applications Financials Implementation Guide , Period Close Components: Explained

Question No: 85

How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  1. The strategy can be modified from the Manage Customers page.

  2. A Strategy is automatically assigned based on Scoring and cannot be manually assigned to a customer by a collector.

  3. The Collector can modify the strategy from the Profile gt; Strategies tab.

  4. Only a Collections Administrator can modify the strategy.

Answer: D

Question No: 86

You have run the delinquency process for a customer and have navigated to the transactions tab to view the status. Why is the status for the transactions blank?

  1. The status of the past due transactions appear as blank.

  2. There was an error when updating the status during the delinquency process. Fix it and rerun the process.

  3. The status of the current or paid in full transactions appear as blank.

  4. The transaction status is NOT automatically updated when the process runs.

Answer: B Explanation:

Not C: When determining the delinquency status of transactions, Oracle Advanced Collections creates a delinquency in a Collections table and the status of the transaction on the Transaction tab is shown as Delinquent. When a transaction is paid and no longer delinquent, the status becomes Current..

Question No: 87

To determine the best approach to converting a client’s data, you must know which setup is set-enabled and can be shared. Identify three set-enabled setups in Receivables. (Select Three)

  1. Revenue Contingencies

  2. Revenue Types

  3. Receivable Specialists.

  4. Standard Memo Lines

  5. Collectors

Answer: A,B,C

Question No: 88

You have completed the period-end activities and have set the receivables period to Close Pending. Now you need to make further adjustments. What is the correct approach?

  1. The receivables accounting period can be re-opened when the period status is Close Pending, and last minute adjustments can be made.

  2. Once the receivables accounting period is set to Close Pending, it can NOT be re- opened, and NO further adjustments can be made.

  3. Adjustments can be made even if the receivables accounting period is set to Close Pending.

  4. Adjustments can be made anytime regardless of the receivables accounting period value.

Answer: A

Explanation: status of periods:

Closed: Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened. Receivables verifies that there are no unposted items in this period.

Receivables does not let you close a period that contains unposted items.

Close Pending: Similar to Closed, but does not validate for Unposted items. Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened.

Future: This period is not yet open, but you can enter transactions in this period. However, you cannot post in this period until you open it.

Not Opened: This period has never been opened and journal entry and posting are not allowed.

Open: Journal entry and posting are allowed.

Question No: 89

What three Work Areas are used to review and manage actionable items before the closing period?

  1. The Billing Work Area for invoicing and adjustment approval related activities

  2. The Receivables Balances Work Area for customer payment and credit application processing

  3. The Revenue Adjustments Work Area for contingencies affecting revenue recognition

  4. The Receivables Balances Work Area for invoicing and adjustment approval related activities.

  5. The Revenue Adjustments Work Area for customer payment and credit application processing.

Answer: A,B,C

Explanation: A: Use the Billing workarea to perform tasks related to customer billing activities. Monitor and review incomplete transactions, and approve and research pending adjustments. Use AutoInvoice to import transactions from other systems and generate invoices and credit memos automatically according to your requirements. You can easily review and correct AutoInvoice import errors and resubmit AutoInvoice. Create new invoices, debit memos, credit memos, and on-account credit memos. Perform related activities to manage your transactions: update, duplicate, credit, adjust, dispute, and preview a transaction. You can also create a new customer record and manage existing customers from the Billing workarea.

B: Use the Receivables Balances workarea to perform tasks related to customer payment activities and the management of accounts receivable balances. Review actionable items, including open receipts and receipt batches, unapplied and on-account receipts and credit memos, receipt remittance batches, and funds transfer errors.

C: Revenue Management Workarea

Use the Revenue Management workarea to perform tasks related to revenue recognition and revenue adjustments

Reference: Oracle Fusion Receivables: Overview

Question No: 90

You have created an Autocash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice.

->Discount = Earned Only

->Late charges = NO

->Receipt = $900

->Receipt date = 14-Feb-2010

->Discount Grace Days = 5

Which Transaction will be applied to the receipt?

  1. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010. Due Date 28-Feb-2010

  2. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010, Due Date: 20-Feb-2010

  3. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2010, Due Date: 28-Feb 2010

  4. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Fob-2010, Due Date 24-Feb-2010

Answer: C Explanation: Example:

You have the following situation: Discounts = Earned Only Finance Charges = No

Receipt = $1800

Receipt Date = 14-JAN-93 Discount Grace Days = 5

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Reference: Apply Partial Receipts

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