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Oracle EBS R12: General Ledger and Receivables Fundamentals

Question No: 21 – (Topic 0)

ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5.

Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion.

Select two correct conclusions arrived upon by Jack. (Choose two.)

  1. XYZ Company is not impacted at all by this rate change.

  2. XYZ Company has a positive impact by this rate change.

  3. ABC Company is not impacted at all by this rate change.

  4. ABC Company has a positive impact by this rate change.

Answer: A,D

Question No: 22 – (Topic 0)

ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart of accounts, accounting calendar, accounting method, and ledger-processing options.

UK management requires reporting on receivables from its US operations in GBP each month.

Identify the best option for the US operations to report to their parent.

  1. Create an account-level reporting currency.

  2. Create a subledger-level reporting currency.

  3. Create a journal-level reporting currency for every transaction.

  4. Create a balance-level reporting currency and run general ledger translation.

Answer: B

Question No: 23 – (Topic 0)

Your company needs a solution that provides the option of transferring a high volume of customer receipts from the bank into the Oracle Accounts Receivable system. You do not want the customers account balance to be affected immediately when the receipts are transferred and uploaded to the receivables system. Which is the most appropriate receipt creation method to implement in Oracle Receivables?

  1. cash receipts

  2. manual receipts

  3. automatic receipts

  4. QuickCash receipts

  5. miscellaneous receipts

Answer: D

Question No: 24 – (Topic 0)

Select three levels where additional reporting currency representations can be maintained. (Choose three.)

  1. batch

  2. journal

  3. balance

  4. subledger

Answer: B,C,D

Question No: 25 – (Topic 0)

You are implementing Oracle Receivables and Oracle Trade Management for claim investigation. You often need to create chargebacks to handle short payments and overpayments on invoices sent to your customers. You have a business need to manually number the chargeback transactions in Oracle Receivables to match a chargeback case number. What is true about meeting this requirement?

  1. Chargebacks in Oracle Receivables can be manually numbered.

  2. Chargebacks in Oracle Receivables always need to be automatically numbered.

  3. Chargebacks in Oracle Receivables can be manually numbered if the base numbering option of manual is selected.

  4. Chargebacks in Oracle Receivables need to be automatically numbered only when document-sequencing option of manual is not selected.

Answer: B

Question No: 26 – (Topic 0)

Ten analysts are assigned the same Receivables responsibility and are given their own logins. The requirement is to restrict three of the analysts from creating chargebacks or adjustments. What would be your advice to ensure compliance with this internal control?

  1. Use forms personalization to restrict function access.

  2. Set the quot;AR: Cash – Allow Actionsquot; system profile to no at the responsibility level.

  3. Set the quot;AR: Cash – Allow Actionsquot; system profile to no at the user level for the three analysts.

  4. Set the quot;AR: Cash – Allow Actionsquot; system profile to yes at the user level for the three analysts.

  5. Set the quot;AR: Cash – Allow Actionsquot; system profile to yes at the application level for the three analysts.

Answer: C

Question No: 27 – (Topic 0)

Choose the correct sequence of the budget accounting cycle in Oracle applications.

  1. Freeze budgets.

  2. Define budgets and budget organization.

  3. Review and correct budgets.

  4. Report on budgets.

  5. Enter budget amounts.

  1. E, D, C, B, A

  2. B, E, C, D, A

  3. A, B, C, D, E

  4. E, A, B, C, D

  5. B, E, C, A, D

Answer: E

Question No: 28 – (Topic 0)

Horizon Real Estate Company usually issues rent invoices to its tenants at the beginning of every quarter. It recognizes the monthly rent revenue on the first day of each month.

However, some tenants are required to make the monthly rent payments in two installments, that is on the15th and the last day of the month. Which two statements are correct about the possible solutions for this business requirement? (Choose two.)

  1. Payment term can be set to defer the monthly rent revenue.

  2. Invoicing rules can be set to defer the monthly rent revenue.

  3. Accounting rules can be set to defer the monthly rent revenue.

  4. Payment term can be set to allow customers to make payments in two installments.

  5. Invoicing rules can be set to allow customers to make payments in two installments.

  6. Accounting rules can be set to allow customers to make payments in two installments.

Answer: C,D

Question No: 29 – (Topic 0)

Your manager has asked you to create a period close process that maximizes the efficiency of your two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently. (Choose two.)

  1. Payables and Assets

  2. Projects and Payables

  3. Inventory and Receivables

  4. Payables and Receivables

  5. Order Management and Projects

Answer: D,E

Question No: 30 – (Topic 0)

You reviewed all the reconciliation reports for month-end close. Identify the correct sequence of actions you would undertake to close the month.

  1. Run Applied Receipts Report, run AR Reconciliation Report, run Journal Import.

  2. Run AR Reconciliation Report, run Sales Journal Report, run Create Accounting Program.

  3. Run Sales Journal Report, run AR to GL Reconciliation Report, run Create Accounting Program.

  4. Run Create Accounting Program, run AR Reconciliation Report, run AR to GL Reconciliation Report.

Answer: D

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