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Q51. Select three values that the dunning letter generation program includes.

A. Invoice

B. Unapplied

C. Credit memo

D. Debit memo

E. Prepayments

Answer: A,B,D

Explanation: The Dunning Letter Generate program can include invoices, debit memos, chargebacks, unapplied, and on-account receipts that are overdue.

Reference: Oracle Fusion Applications Financials Implementation Guide, Dunning Transactions


Q52. You are the Billing Manager and you are in charge of reviewing transactions and approving them. Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?

A. Pending My Approval

B. Pending Approval

C. Pending Approval from Others

D. Approved

E. Pending Research

Answer: A,E


Q53. The drilldown option available in the task pane for receipts does NOT include ______  .

A. Create Remittance via Spreadsheet

B. Correct Funds Transfer Errors

C. Lockbox Transmission History

D. Create Receipt via Spreadsheet

Answer: B


Q54. The drilldown option available in the task pane for receipts does NOT include ______  .

A. Create Remittance via Spreadsheet

B. Correct Funds Transfer Errors

C. Lockbox Transmission History

D. Create Receipt via Spreadsheet

Answer: B


Q55. Which three scenarios require a debit memo reversal?

A. To reverse a miscellaneous receipt

B. To reverse a receipt that has a chargeback with an adjustment against it

C. To reverse a receipt with remitted credit card refund application

D. To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive

E. To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative

Answer: B,C,E

Explanation: You must create a debit memo reversal under each of these circumstances:

* (B) You are reversing a receipt from which you have created a chargeback, and this chargeback has had activity against it, such as another receipt, a credit memo, or an adjustment.

* (C) You are reversing a receipt with a remitted credit card refund application.

* (E) You are reversing a receipt (Receipt A) that was applied to another receipt (Receipt B), if the reversal would draw the balance of Receipt B negative.

Reference: Fusion Applications Help, Debit Memo Reversals: Points to Consider


Q56. Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level. How will bills be generated?

A. Sites l and 3 activities will be included in a single bill.

B. Sites 1 and 2 activities will be included in a single bill.

C. Sites 2 and 3 activities will be included in a single bill.

D. Sites 1, 2, and 3 activities will be included in a single bill.

Answer: B

Explanation: Bill Consolidation at Account or Site Level

You can generate bills consolidated at either the customer account or site level:

* Account-level balance forward billing lets you generate one bill for each business unit of the customer account, addressed to the primary bill-to site of the account.

* Site-level balance forward billing lets you generate a balance forward bill for each bill-to site of a customer with multiple bill-to sites.

* You can exclude a site from a balance forward bill by disabling balance forward billing on the customer profile of the site.

Reference: Fusion Applications Help, Balance Forward Billing: Explained


Q57. You are the Billing Manager and you are in charge of reviewing transactions and approving them. Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?

A. Pending My Approval

B. Pending Approval

C. Pending Approval from Others

D. Approved

E. Pending Research

Answer: A,E


Q58. 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?

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

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

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

D. 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.


Q59. Identify two credit memo options.

A. Tax only

B. Advance

C. Paid freight

D. Invoice lines

E. Paid amount only

Answer: A,C

Explanation: Note:

Tax-Only and Freight-Only Credit Memos (i.e., when the amount of the Credit assigned to the Lines is 0.00 or if Tax or Freight were the only items on the original invoice) should be processed as On Account Credit Memos and later applied to Invoices.


Q60. The communication information region in the customer account record is used to maintain what customer information?

A. Payment Instruments

B. Job Responsibilities

C. Account Relationships

D. Account Profiles

Answer: B

Explanation: Use the Communication region to maintain customer contact persons for a customer account. Information that you can maintain for each contact includes:

Name and job title.

Contact points, such as phone and fax numbers, e-mail and instant message addresses, and URLs.

Job responsibilities.

Addresses. You can either enter new addresses specific to the contact, or you can enter addresses of account sites belonging to the customer account.

Note:

Use the customer account record to maintain detailed information about each of your customer accounts.

There are these points to consider when entering and updating customer account information:

Payment Details Communication Information Account Relationships Account Profiles

Reference: Oracle Fusion Applications Financials Implementation Guide , Communication

Information