Oracle 1Z0-216 Actual Free Exam Questions & Community Discussion

You are using the Event Based Revenue Management business rule for revenue recognition. Your company is on the calendar month for financial reporting. On April 12th of the current year, a customer invoice of $1000 is imported. It has an acceptance clause of 60 days and a cancellation clause of 120 days. On April 28th of the current year, a receipt of $1000 is applied against this invoice. You would recognize revenue of $1000 in the month of _____.

The Receipt Inherit Invoice Number option affects only receipts created by _____.

Select the setup task that you are required to perform in Receivables to manage tax calculations on invoices.

Identify two reasons why ABC Company would use Oracle Business Intelligence (BIS) as one of their reporting tools. (Choose two.)

Select two actions available in Oracle General Ledger. (Choose two.)

The organization that Receivables uses to validate items is set up using _____.

An easy methodology to clarify how to define rollup groups for the summary account is to _____.

Your receivables clerk is confused about entering duplicate receipt numbers in Oracle Receivables. According to the organization's policy, the customers check number is entered as the receipt number while entering manual check receipts. There are instances when the same check number is received from different customers. What do you tell your receivables clerk?

The head office of ABCCorporation is at New York, and it has a branch in Tokyo. Their ledgers have the same chart of accounts and calendar. The New York ledger uses USD, whereas the Tokyo ledger uses JPY as the functional currency. ABC Corporation has a requirement that all its branch transactions-subledger journals, General Ledger journal entries, and balances at Tokyowill have to be routinely reported in USD to New York. As an implementation consultant, which reporting currency conversion would you suggest for ABC Corporation?

You are implementing Oracle Receivables and Oracle Trade Management for claim investigation. You often need to create chargebacks to handle short payments and overpayments on invoices sent to your customers. You have a business need to manually number the chargeback transactions in Oracle Receivables to match a chargeback case number. What is true about meeting this requirement?

All receipts that fail validation during AutoLockbox processing remain in the _____ table.

Identify four discount basis options available that define how Receivables calculates discounts. (Choose four.)

Tax on Receivables invoices are posted to different General Ledger (GL) accounts by taxing authorities in your primary ledger. For example, one GL account (2501) for California tax and one (2502) for VirginiA. There is a regulatory requirement for tax on Receivables invoices to be posted to one account (2550) in your secondary ledger. Where would you set up the accounting rules for this requirement?

Which three statements are true about Balance Forward Billing? (Choose three.)