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Version: 8.0
Question: 1

You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?

A. Duplicate the original transaction.
B. Create a credit memo.
C. Incomplete the transaction.
D. Reverse the Transaction.
E. Correct the unit price.

Answer: A, B

Explanation:
When do I credit and rebill a transaction?
Sometimes the simplest way to manage a credit transaction is to credit and rebill. You credit the entire balance of an invoice (B), duplicate the original invoice (A) and update the duplicate with the correct information, then resubmit to the customer.
Common scenarios for credit and rebill include:
A customer indicates that an invoice does not reflect the correct price of a product or service. The customer requests a new invoice with the correct information.
A customer wants to correct their accounting directly in the subledger, instead of making a manual journal entry in general ledger. With credit and rebill, the credit memo reverses the accounting of the original invoice, and the updated duplicate invoice creates new accounting for posting to general ledger.
The customer wants to change the bill-to information on a posted transaction.
Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash, and Collections Guide, When do I credit and rebill a transaction?

Question: 2

Select three values that default from Customer Profile Classes.

A. Currency
B. Legal Entity
C. Payment Terms
D. Statement Cycle
E. Business Purpose

Answer: A, C, D

Explanation:
* The customer profile class shares these default settings with other parts of Oracle Fusion Receivables: Match Receipts By; AutoMatch rule set; AutoCash rule set; AutoInvoice Grouping rule; payment terms (C); and tax printing options.

Question: 3

The collections Manager runs the Determine Delinquency Using Scoring program to identify delinquent transitions. She wants to know the status of a particular transaction. On which tab she will find the status.

A. Customer Aging tab
B. Transaction Details tab
C. Transactions tab
D. Transaction aging tab

Answer: C

Explanation:
Note: Transactions do not become delinquent until the delinquency identification process is run and the dashboard summary table is refreshed.

Question: 4

Select three valid statements related to the Shared Service Model.

A. Shared Service Personnel can view Invoices across various business units.
B. Shared Service Personnel can do cross-business unit cash application.
C. Shared Service Personnel can process invoices for various business units.
D. Shared Service Personnel can see customer account details across business units.
E. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.

Answer: A, C, D

Explanation:
Note:
* In Oracle Fusion applications, the service provider model defines relationships between business units for a specific business function, identifying one business in the relationship as a service provider of the business function, and the other business unit as its client.

Question: 5

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

Question: 6

You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions. What parameters are used to summarize the exceptions for review?

A. Business Unit, Transaction Type, Invoice Date, Currency
B. Business Unit, Customer Name, Transaction Source, Total Amount
C. Business Unit, Transaction Source, Creation Date, Currency
D. Business Unit, Transaction Source, Transaction Type, Creation Date

Answer: C

Explanation:
Reference: Fusion Applications Help, AutoInvoice Interface Table RA_INTERFACE_LINES_ALL
Note 1: AutoInvoice Exception Handling
Records that fail validation are called ‘Exceptions’

Question: 7

Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?

A. Limiting the display using the ad hoc parameter
B. Drilldown to see reconciling details
C. Drilldown to see what needs to transfer and post to the general ledger
D. Graphical and visualization components for viewing the reconciliation details
E. The reasons for the reconciling differences

Answer: C

Explanation:
Incorrect answers:
B: Leverage the Payables to Ledger Reconciliation and the Receivables to Ledger Reconciliation reports using the interactive Oracle Transactional Business Intelligence (OTBI) reporting technology to:
Expand account balance information from summarized to detail data for optimal reconciliations
Facilitate manageability and clarity for the reconciliation process
E: If discrepancies exist, the process of matching each transaction to its respective accounting entry is automatically performed, finding all transactions and accounting entries that contributed to the out-of-balance situation.

Question: 8

A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?

A. Search for the information in the Review Customer Account Details user interface.
B. Apply, reverse, or process the receipt.
C. Create an open debit memo.
D. Review receipt-, in pending status

Answer: A

Explanation:
The contextual area of the Review Customer Account Details page displays information about the most recent transaction and the most recent receipt belonging to the selected customer account. If there were multiple transactions or receipts on the same date, Oracle Fusion Receivables displays the transaction and receipt with the largest amount.

Question: 9

The billing Specialist creates an adjustment for an INCORRECT invoice and sends it for approval through the review and Manage Transaction link in the Billing Work Are
a. Since the adjustment amount is above approval limit, it is routed to the Billing Manager. What is the status of the Adjustment when the approver sees the adjustment in his Work Queue?
A. Pending Research
B. Pending Approval
C. Approval Required
D. Waiting Approval

Answer: D

Explanation:
When you enter adjustments outside your approval limits for the currency of the item that you are adjusting, Receivables creates the pending adjustment in the Approve Adjustments form with a status of Waiting Approval. Adjustment with the waiting approval can only be approved by users with the appropriate approval limit of currency of the item you are adjusting.

         

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