https://www.newpassleader.com/Oracle/1z0-335-exam-preparation-materials.html

NEW QUESTION NO: 10
What are the three setup steps required to implement the Lockbox feature? (Choose three.)
A. Receipt Sources
B. credit card refunds
C. Lockbox and Lockbox Transmission Formats
D. late charges
E. Receipt Classes and Receipt Methods
Answer: A,C,E
Explanation/Reference:
Explanation:
A: You only use receipt sources with receipt and remittance batches. This includes automatic receipt batches, lockbox receipts, and receipts created via spreadsheet.
C: The first step in lockbox processing is validating the data imported from your bank file using the lockbox file transmission.
E: The receipt methods assigned to a receipt class account for receipt entries and applications. They also determine the customer remittance bank information.
The receipt class determines the processing steps that are required for receipts. These steps include automatic or manual creation, the remittance method, the bank clearance method, and whether receipts require confirmation by the customer.
References: https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAIRP/ F1476545AN19468.htm#F1476536AN1AB5A

NEW QUESTION NO: 11
Which two delivered roles can access the full functionality of Functional Setup Manager?
A. any Functional user
B. Application Implementation Manager
C. Functional Setup Manager superuser
D. Application Implementation Consultant
E. IT Security Manager
Answer: B,D
Explanation/Reference:
Explanation:
Before you can begin implementation, at least one user must be created that is granted access to either the Application Implementation Manager or Application Implementation Consultant.
References: http://msnroracle.blogspot.se/2016/10/fusion-fusion-functional-setup-manager.html

NEW QUESTION NO: 12
Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?
A. Create a separate reference data set for each business unit and assign it to each unit.
B. Assign an enterprise reference data set to the business units, which share the account addresses.
C. Assign a COMMON reference data set to the business units, which share the account addresses.
D. Create a new reference data set for account addresses and assign it to the business units.
Answer: C
Explanation/Reference:
Explanation:
A common reference data set is available as the default set, which can be assigned to several business units sharing the same reference data. For commonly used data such as currencies, you can use the common reference data set References: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/ FAIGL1493157.htm#FAIGL185751

NEW QUESTION NO: 13
Which three transaction types are used to generate late charges? (Choose three.)
A. Debit Memo
B. Interest Invoice
C. Credit Memo
D. Adjustments against the original transaction
E. Cash receipts
Answer: A,B,D
Explanation/Reference:
Explanation:
You can assess late charges against past due debit items for each customer, account, or site. The calculation of late charges is determined by your late charge policy. You can set up your policy to control various decisions, such as whether you assess late charges, and how those late charges are calculated.
Another step of the setup defines how you want to document your late charges and present them to the customer. The options are:
Debit Memos

Interest Invoices

Adjustments

References: https://blogs.oracle.com/ebs/learn-about-late-charges-functionality-in-receivables

NEW QUESTION NO: 14
To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.
Identify three set-enabled setups in Receivables. (Choose three.)
A. Revenue Contingencies
B. Revenue Types
C. Receivable Specialists
D. Standard Memo Lines
E. Collectors
Answer: A,D,E
Explanation/Reference:
Explanation:
The following list contains the reference data objects for the Oracle Fusion Applications that can be shared across business units and the method in which the reference data for each is shared.
Application: Receivables
Revenue Contingencies: Assignment to one set only, with common values

Memo Lines: Assignment to one set only, with common values

Collectors: Assignment to one set only, with common values

References: https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIGL/F1493157AN1182C.htm

NEW QUESTION NO: 15
Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)
A. Declining Balance
B. Average
C. Flat Rate
D. Simple
E. Compound
Answer: C,D,E
Explanation/Reference:
Explanation:
The interest calculation formulas are flat rate, simple and compound.
Note: The interest calculation formulas are:
Flat Rate: Use a flat rate to calculate the late charge amount. Receivables ignores the number of days that a payment is overdue. If you use balance forward billing and the average daily balance calculation method, then this is the calculation formula used. The formula is:
Amount Overdue * (Interest Rate/100)
Simple: Calculate late charges on overdue transactions only. If you use interest tiers and charge schedules to create late charges and penalties, then this is the calculation formula used. The formula is:
Amount Overdue * (Interest Rate/100) * (Number of Days Late/Number of Days in Period) Compound: Calculate late charges on the sum of overdue transactions and prior late charges. The formula is:
(Amount Overdue + Prior Late Charges) * (Interest Rate/100) * (Number of Days Late/Number of Days in Period) References: https://docs.oracle.com/cd/E37583_01/doc.1116/e22896/F455009AN181AF.htm

NEW QUESTION NO: 16
In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.
Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)
A. Customer Japan can pay its own transactions.
B. Customer Japan can pay for Customer West, Customer USA, and its own transactions.
C. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
D. Customer USA can pay for Customer West and its own transactions.
E. Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
Answer: A,C,D
Explanation/Reference:
Explanation:
Example:

Pay Below Paying Relationships
If you assign one phrase of a relationship type to the Pay Below relationship group, then relationships that you create using that relationship type are Pay Below paying relationships. A Pay Below paying relationship is a parent-child relationship where each party can pay for its own transactions, as well as the transactions of all parties that are lower in the hierarchy (children, grandchildren, and so on).
If the parties in the diagram shown in the Pay Within paying relationship section are in a Pay Below paying relationship, then all accounts of each child party in the relationship will be available to each parent party in the relationship for receipt application, commitment application, and so on.
In other words:
Acme Worldwide can pay for Acme USA, Acme Japan, Acme West, and its own transactions.

Acme USA can pay for Acme West and its own transactions.

Acme Japan can pay for its own transactions.

References: https://docs.oracle.com/cd/E18727_01/doc.121/e13522/T355475T427865.htm

NEW QUESTION NO: 17
You have completed the period-end activities and set the receivables accounting period to Close Pending.
Which statement is true?
A. Adjustments can be made even if the receivables accounting period is set to Close Pending.
B. The receivables accounting period can be re-opened when the period status is Close Pending and last minute adjustments can be made.
C. After the receivables accounting period is set to Close Pending, it cannot be reopened and no further adjustments can be made.
D. Adjustments can be made anytime regardless of the receivables accounting period value.
Answer: B
Explanation/Reference:
Explanation:
status of periods:
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.
Note: status of periods continued:
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.
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.
References: https://docs.oracle.com/cd/E18727_01/doc.121/e13522/T355475T355481.htm

NEW QUESTION NO: 18
An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.
A. Earned revenue will be debited for $50 USD.
B. Unearned revenue will be credited for $100 USD.
C. Earned revenue will be credited for $50 USD.
D. Unearned revenue will be debited for $50 USD.
Answer: D
Explanation/Reference:
If revenue on this invoice was deferred due to unmet payment-based contingencies, then Receivables always debits the unearned revenue account for the full amount of the credit memo, according to the initially assigned revenue scheduling rules.
Note: If you issue a credit memo against an invoice that had revenue automatically deferred upon import, then the impact of the credit memo differs depending on the original reason for the revenue deferral. This applies only if you set the Invoice Accounting Used for Credit Memos profile option to Yes.
References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113011AN1CFB0.htm

NEW QUESTION NO: 19
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?
A. You can select only a Closed accounting period.
B. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: B
Explanation/Reference:
Explanation:
Intercompany Transactions: You can't limit the display of intercompany transactions on the Receivables Aging by Account report. If the reconciliation extract either excludes intercompany transactions or displays intercompany transactions only, then the Receivables to General Ledger Reconciliation report and the Receivables Aging by Account report won't display compatible data.
References: https://fusionhelp.oracle.com/helpPortal/topic/
TopicId_P_A1752E2FEBC76AB9E040D30A688134C7

NEW QUESTION NO: 20
A client has implemented a 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 an acceptance clause (100 days).
When will revenue be recognized?
A. immediately
B. after 60 days
C. after 100 days
D. only after manual intervention
Answer: C
Explanation/Reference:
Explanation:
Two time-based contingencies on the same invoice line
You enter or import an invoice for a creditworthy customer, and one of the invoice lines is associated with both a nonstandard refund policy (50 days) and an acceptance clause (120 days).
Receivables does not recognize revenue on this invoice line until the acceptance clause expires after 120 days. If, for example, you obtain written acceptance from the customer after 80 days, you can record early acceptance to allow revenue recognition.
References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113011AN1CFB0.htm

https://www.newpassleader.com/Oracle/1z0-335-exam-preparation-materials.html