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Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. Which three actions are facilitated through The Reconciliation Summary Report?

A) Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.
B) Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.
C) Drill down to see details of what still needs to be transferred and posted to the General Ledger.
D) Drill down to see reconciliation details and make reconciling for corrections.
E) Drill down to view the data and use standard Excel functionalities like sum, find, sort, and filtering WITHOUT downloading to Excel.

2. You have confirmed an automatic receipt in error. What is the correct method to rectify the error?

A) Delete the automatic receipt batch.
B) Unconfirm the automatic receipt.
C) Reverse and recreate the receipt.
D) Remove the receipt from the batch.

3. A company operates in a country with strict legislative requirements that requires the legal entity to maintain its accounting data separate from other legal entities within the company. How will you assign legal entitles during the accounting configuration?

A) One legal entity per ledger
B) Multiple legal entities sharing the same ledger
C) One legal entity for ALL ledgers
D) One legal entity per primary ledger

4. A debit memo reversal must be used to reverse the receipt if the receipt ____________.

A) is non-invoice related
B) has an open claim associated with it
C) has a remitted credit card refund application
D) has been reconciled in Cash Management

5. 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 2 and 3 activities will be included in a single bill.
B) Sites 1, 2, and 3 activities will be included in a single bill.
C) Sites l and 3 activities will be included in a single bill.
D) Sites 1 and 2 activities will be included in a single bill.

Solutions: