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1Z0-518 Oracle E-Business Suite R12.1 Receivables Essentials

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Oracle · 1Z0-518

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Question 1

Single choice

You have just opened the Transactions form.

Which field would you see on this form?

A
company
B
legal entity
C
cost center
D
operating unit

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Correct answerB

Question 2

Multiple choice

What are the four required fields when defining a request set? (Choose four.)

A
Set
B
Owner
C
Set Code
D
Application
E
Description
F
Active Date

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Correct answersA, C, D, F

Question 3

Multiple choice

Which four transactions are improved by AutoIvoice? (Choose four)

A
invoices
B
deposits
C
guarantees
D
debit memos
E
credit memos
F
on-account credits

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Correct answersA, D, E, F

Question 4

Multiple choice

Identify two features of a Value Set that has a validation type of "None." (Choose two.)

A
It has an approved list of values associated with it
B
The entered value must meet the formatting requirements.
C
The Flexfield value security rules cannot be used for a segment that uses this Value Set
D
Users can enter any value that they want even if It does not meet formatting requirements.

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Correct answersB, C

Question 5

Multiple choice

Identify the two benefits of using Multi-Org Access Control. (Choose two.)

A
View asset Information across multiple asset books.
B
Restrict access to users based on their Organization assignments.
C
Submit and view data across different Ledgers using a single responsibility.
D
Enter Payables invoices for different Operating Units using a single responsibility.
E
View Consolidated requisitions across Operating Units using a single responsibility.

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Correct answersD, E

Question 6

Multiple choice

ABC Corp. has set up the Asset Category Key Flexfield. It has also set up a Descriptive Flexfield to store vehicle Information associated with the asset category "Vehicle." Identify two correct statements (Choose two.)

A
The setting up of the Descriptive Flexfield is mandatory.
B
The Asset Category Flexfield is owned by the Oracle Assets module.
C
The Descriptive Flexfield attributes are associated with tables in the Oracle Assets module.
D
Only the Asset Category Key Flexfield is associated with tables In the Oracle Assets module.

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Correct answersB, C

Question 7

Single choice

To create a party paying relationship, the relationship type must be hierarchical and the party type must be_______.

A
child
B
parent
C
person
D
organization
E
person or organization

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Correct answerD

Question 8

Multiple choice

Oracle Credit Management (OCM) uses lookups to help speed up data entry and increase accuracy.
Select two required lookups used by OCM. (Choose two.)

A
risk code
B
credit rating
C
payment terms
D
credit review type
E
credit classification

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Correct answersD, E

Question 9

Multiple choice

Select four values that default from profile classes In Oracle Accounts Receivable. (Choose four.)

A
currency
B
legal entity
C
payment terms
D
statement cycle
E
business purpose
F
credit classification

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Correct answersA, C, D, F

Question 10

Multiple choice

Which four transaction types or activities are affected by the "AR: Disable Receivable Activity Balancing Segment" profile option? (Choose four.)

A
invoices
B
adjustments
C
late charges
D
debit memos
E
credit memos
F
discounts (both earned and unearned)
G
activity applications (such as receipt write-off, short-term debt, and claims Investigation)

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Correct answersB, C, F, G

Question 11

Single choice

In order for supplementary data sources to be registered in Oracle Bill Presentment Architecture (BPA), they must be interfaced with which Oracle Application?

A
Oracle Projects
B
Oracle Receivables
C
Oracle Service Contract
D
Oracle Order Management

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Correct answerB

Question 12

Multiple choice

Company ABC is implementing Oracle User Management (OUM). It has decided to implement the Self Service and Approvals access control layer.

What are the three self-service registration tasks an end user can perform? (Choose three.)

A
Reset passwords.
B
Obtain new user accounts.
C
Request deactivation of responsibility
D
Request reports to be added to request set.
E
Request additional access to the applications

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Correct answersA, B, E

Question 13

Multiple choice

ABC Company is Implementing Oracle Financials. The finance manager wants to set up a control point before the Receivables entries are transferred to General Ledger. Which two statements are correct about the control mechanisms that Receivables can provide? (Choose two.)

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A
Oracle approval limit can be used to approve or reject the invoices.
B
Oracle approval limit can be used to approve or reject the credit memos.
C
Oracle approval limit can be used to approve or reject the adjustment activities.
D
Oracle Approvals Management (AME) Workflow can be used to approve or reject the Invoices.
E
Oracle Approvals Management (AME) Workflow can be used to approve or reject the credit memos.
F
Oracle Approvals Management (AME) Workflow can be used to approve or reject the adjustment activities.

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Correct answersC, E

Question 14

Single choice

A clerk from ABC Inc. receives a customer receipt that does not have sufficient Information to identify the customer or invoice.

Which is the correct method of entering the receipt In Oracle Accounts Receivable?

A
Enter the receipt as an unapplied receipt.
B
Enter the receipt as an unidentified receipt.
C
Enter the receipt as an on-account receipt.
D
Enter the receipt as a miscellaneous receipt.
E
Enter the receipt by applying it to a dummy customer account.

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Correct answerB

Question 15

Single choice

XYZ Corp. has acquired ABC Corp. XYZ operates with Multi-Org Access Control. Consequently XYZ Corp. needs to add additional Operating Units. Identify the statement that describes the sequence for adding additional Operating Units.

A
It is not possible to add additional Operating Units.
B
Set the MO: Operating Unit profile option, run the Replicate Seed Data concurrent request, create the Operating Unit, and create new responsibilities as necessary.
C
Set the MO: Security Profile profile option, run the Replicate Seed Data concurrent request, create the Operating Unit, and create new responsibilities as necessary.
D
Create the Operating Unit, run the Replicate Seed Data concurrent request, create new responsibilities as necessary, and set up the MO: Default Operating Unit profile option.
E
Create the Operating Unit, run the Replicate Seed Data concurrent request, assign the Operating Unit to a security hierarchy, run Security List maintenance concurrent program, create new responsibilities as necessary, and set up the MO: Security Profile profile option.

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Correct answerE

Question 16

Single choice

The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the miscellaneous receipt needs to be reversed.

Which method would you advise the client to use?

A
Carry out a standard reversal of the miscellaneous receipt.
B
Carry out a debit memo reversal of the miscellaneous receipt.
C
Create a receivable activity adjustment for the reversal of the miscellaneous receipt.
D
Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.
E
Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.

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Correct answerB

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Oracle E-Business Suite R12.1 Receivables Essentials

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