Online Access Free 1z1-962 Practice Test

Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

• A.The Implementation Project is preconfigured and cannot be deleted or changed.
• B.When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
• C.You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
• D.You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
• E.You must plan your Implementation Project carefully because you cannot delete it or make changes later.

A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?

• A.Forwarded for Approval
• B.Approval Required
• C.Pending Research
• D.Pending Approval

Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)

• A.Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
• B.Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
• C.The payable options and the receivable system options should have the same tax application options.
• D.Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
• E.First enter a payable transaction to calculate tax and then enter the receivable transaction.
• F.Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.

Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

• A.drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
• B.drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
• C.drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
• D.drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
• E.drilldown to see reconciliation details and to make reconciling corrections

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

• A.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
• B.Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
• C.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
• D.Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
• E.Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
• F.A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.