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Oracle EBS R12: General Ledger and Receivables Fundamentals

Question No: 121 – (Topic 1)

A receipt of $2,000 is received for an invoice that has $1,500 as the amount due. The remittance advice does not state a reason for the overpayment. Identify the receipt state that should be displayed.

  1. applied

  2. unapplied

  3. on-account

  4. unidentified

  5. partially applied

Answer: B

Question No: 122 – (Topic 1)

Customer reason codes can be used to assist in automatic claim creation in Receivables. Customer reason code mappings are assigned in .

  1. Payables

  2. Receivables

  3. Cash Management

  4. Trade Management

  5. Order Management

  6. Subledger Accounting

Answer: D

Question No: 123 – (Topic 1)

When summary account templates are associated with the check-level advisory of budgetary control funds, which are the two items that must be associated with the template? (Choose two.)

  1. The formula must be identified.

  2. The currency must be identified.

  3. The boundary must be identified.

  4. The funding budget must be identified.

Answer: C,D

Question No: 124 – (Topic 1)

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 .

  1. April

  2. May

  3. June

  4. July

  5. August

Answer: E

Question No: 125 – (Topic 1)

Newco Inc. has decided on a chart of accounts structure that consists of four segments: company, cost center, account, and subaccount. It has only one company value and wants to restrict (limit the appearance of) the lists of account values and subaccount values for some cost centers. Which is the design option that would meet Newco Inc.#39;s requirement?

  1. Define a value set with independent validation and non-hierarchical security for each of the three segments: cost center, account, and subaccount. Enable security for all three segments and define security rules to restrict lists accordingly.

  2. Define a value set with independent validation for each of the three segments: cost center, account, and subaccount. Deselect dynamic inserts for the accounting flexfield structure and define all possible code combinations that are desirable for the specified cost

    centers.

  3. Define a value set for the cost center with independent validation and non-hierarchical security. Define a value set for the account with dependent validation, which depends on the cost center. Define a value set for the subaccount with dependent validation, which depends on the account. Enable security for the cost center segment and define security rules to restrict lists accordingly.

Answer: A

Question No: 126 – (Topic 1)

ABC Corp. is implementing General Ledger, Payables, Receivables, and Cash Management. Identify two points of integration between General Ledger, Payables, Receivables, and Cash Management. (Choose two.)

  1. Payables sends bank reconciliation accounting entries to General Ledger.

  2. Receivables sends accrued revenue accounting entries to General Ledger.

  3. Receivables sends bank reconciliation accounting entries to General Ledger.

  4. Cash Management sends bank reconciliation accounting entries to General Ledger.

  5. Cash Management does not send bank reconciliation accounting entries to General Ledger.

Answer: A,D

Question No: 127 – (Topic 1)

Before you can create customer invoices, you have to define customers and your remit-to address. Identify five additional setups that are required before you can create invoices in Receivables. (Choose five.)

  1. payment terms

  2. AutoAccounting

  3. transaction sources

  4. standard memo line

  5. system and profile options

  6. receivables transaction types

  7. customer account relationships

Answer: A,B,C,E,F

Question No: 128 – (Topic 1)

Identify two correct statements about the transaction flexfields for the Receivables AutoInvoice interface tables. (Choose two.)

  1. Link-to transaction flexfields are used to associate a specific tax line with a specific transaction line.

  2. Reference transaction flexfields are used to associate a specific tax line with a specific transaction line.

  3. Link-to transaction flexfields are used to apply a credit memo to an invoice or associate an invoice with a specific commitment.

  4. Reference transaction flexfields are used to apply a credit memo to an invoice or associate an invoice with a specific commitment.

Answer: A,D

Question No: 129 – (Topic 1)

ABC Company in India exports raw materials to XYZ Company in the USA. There is an outstanding invoice of INR 90,000,000 to be paid in two months. The USD-to-INR rate when the transaction was completed was 45.

Now the USD-to-INR rate has changed from 45 to 40. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion.

Select two correct conclusions arrived upon by Jack. (Choose two.)

  1. XYZ Company has a positive impact by this rate change.

  2. ABC Company is not impacted at all by this rate change.

  3. ABC Company has a positive impact by this rate change.

  4. XYZ Company has a negative impact by this rate change.

Answer: B,D

Question No: 130 – (Topic 1)

John is reviewing the clients draft training documents about the Order to Cash life cycle business processes. Identify four steps that are included in the Order-to-Cash life cycle. (Choose four.)

  1. launching pick release

  2. performing credit check

  3. reconciling bank statements

  4. running AutoInvoice to Receivables

  5. generating the move order manually

Answer: A,B,C,D

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