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Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

1. To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.

A) Customer Site
B) AutoMatch Rule Sets
C) Aging Methods
D) Revenue Scheduling Rules
E) AutoCash Rules

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:
Create a manual Receipt Class, where:
Name of the new receipt class is XXReceipt Class (Replace XX with 03, which is your allocated User ID.) Receipts using this new receipt class will not be remitted Organization will use Cash Management to clear their receipts

3. Your customer receives their invoices via the XML delivery method. They want to receive billing transactions for specific sites only. Now you have been tasked with creating a very focused delivery method of XML transactions for this customer site that should be receiving the invoice.
To define this setup, you must add a new lookup code to the AR Features lookup type in the Manage Receivables Lookups task. Which lookup code would you use?

A) AR_NTERFACE.XML
B) AR_XML_INVOICE_ENHANCED
C) AR_XML.DELIVERY.METHOD
D) AR.INVOICE.XML.ENHANCED
E) AR_CUSTOMER.DELIVERY

4. Identify two late charge interest calculation methods. (Choose two.)

A) Previous Balance
B) Overdue Transactions only
C) Average Daily Balance
D) Adjusted Balance

5. Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?

A) state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
B) state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 US
C) state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
D) state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
E) state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

Solutions: