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Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. In the customer hierarchy of ABC Corporation, ABC Worldwide is the parent company of ABC USA and ABC Japan. ABC West is a subsidiary of ABC USA. Select three valid statements if the ABC corporation hierarchy is assigned to a Pay Below Paying relationship.

A) ABC USA can pay for ABC West and its own transactions.
B) ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.
C) ABC USA can pay for ABC Worldwide, ABC West, and its own transactions.
D) ABC Japan can pay tor ABC West, ABC USA, and its own transactions.
E) ABC Japan can pay its own transactions.

2. Dunning can be configured using ___________.

A) can NOT be configured by business units
B) only multiple business units
C) only one business unit
D) both by single business unit or multiple business units

3. In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.

A) The Factoring account is debited and the Short term debt account is credited.
B) The Cash and Bank charges accounts are debited and the Factoring account is credited
C) The Cash and Bank charges accounts are debited and the Short term debt account is credited
D) The Short term debt account is debited and the Factoring account is credited.

4. The client has implemented revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and acceptance clause (100 days). Explain when revenue will be recognized.

A) Recognized Immediately
B) Recognized after 60 days
C) Recognized only after manual intervention
D) Recognized after 100 days

5. What is the action you perform on a transaction once you drill down to the edit transaction window from the Billing Work Area page?

A) Reverse the Transaction
B) Incomplete Transaction
C) Complete and Review
D) Create a New Transaction

Solutions: