1Z0-518 Free Practice Test

A clerk from ABC Inc. receives a customer receipt that does not have sufficient Information to identify the customer or invoice.
Which is the correct method of entering the receipt In Oracle Accounts Receivable?

1. A. Enter the receipt as an unapplied receipt.
2. B. Enter the receipt as an unidentified receipt.
3. C. Enter the receipt as an on-account receipt.
4. D. Enter the receipt as a miscellaneous receipt.
5. E. Enter the receipt by applying it to a dummy customer account.

Correct Answer: B

Identify two statements that apply to Oracle Collections. (Choose two.)

1. A. It Is a Web-based self-service application.
2. B. It can be used to place an invoice in dispute.
3. C. It enables customers to see their own Oracle Receivables account information, such as balances.
4. D. It can be used to initiate the Oracle Approvals Management (AME) credit memo request workflow from Oracle Collections.

Correct Answer: BD

The technical architecture In Oracle E-Business Suite Release 12 supports the business needs of the application. Select three technical features included in the technical architecture in Oracle EBusiness Suite Release 12. (Choose three.)

1. A. global
2. B. mobile interface
3. C. rapid implementation
4. D. Business Intelligence
5. E. end-to-end integration
6. F. self-service (HTML/JSPs)

Correct Answer: BDF

Horizon Real Estate Company usually Issues rent Invoices to its tenants at the beginning of every quarter. It recognizes the monthly rent revenue on the first day of each month. However, some tenants are required to make the monthly rent payments in two installments that is on the 15th and the fast day of the month. Which two statements are correct about the possible solutions for this business requirement? (Choose two.)

1. A. Payment term can be set to defer the monthly rent revenue.
2. B. Invoicing rules can be set to defer the monthly rent revenue.
3. C. Accounting rules can be set to defer the monthly rent revenue.
4. D. Payment term can be set to allow customers to make payments in two installments.
5. E. Invoicing rules can be set to allow customers to make payments in two installments.
6. F. Accounting rules can be set to allow customers to make payments in two installments.

Correct Answer: CD

Identify three purposes for which transaction types can be used. (Choose three.)

1. A. to record how cash can be applied to transactions
2. B. to set whether AutoInvoice validates transactions using IDs or values
3. C. to set whether transactions affect the Accounts Receivable (AR) customer balances
4. D. to record the accounting flexfield value that would be used for the cash account for transactions
5. E. to record the accounting flexfield value that would be used for the receivable account for transactions
6. F. to set transaction numbers to be either assigned automatically or entered manually for transactions

Correct Answer: ACE