Oracle Financials Cloud Receivables 2017 Implementation Essentials

Here you have the best Oracle 1z0-962 practice exam questions

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This questions were last updated on October 25, 2025
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Question 1 of 79

Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.
How will bills be generated?

Sites 1, 2, and 3 activities will be included in a single bill.

Sites 2 and 3 activities will be included in a single bill.

Sites 1 and 2 activities will be included in a single bill.

Sites 1 and 3 activities will be included in a single bill.

Correct Answer: C

Since Balance Forward Billing is enabled for both site 1 and site 2 at the account level, the activities for these two sites will be combined into a single bill. Site 3 has a different billing strategy and is not mentioned as having Balance Forward Billing at the account level, so its activities will be billed separately.

Question 2 of 79

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 Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.

A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.

A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.

Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.

Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.

Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.

Correct Answer: C

When creating a batch of bills receivable with a 30-day payment term, the invoice and transaction creation dates are critical. Both transactions are assigned an unsigned receipt method with a lead time of 60 days and a maturity date derived based on the latest rule, per customer. Because the batch is processed on January 31, 2015, the issue date for bills receivable is January 31, 2015. With the lead days set to 60, the maturity date is 60 days after the invoice date, leading to a maturity date of March 30, 2015.

Question 3 of 79

You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.
Which two conditions are failing? (Choose two.)

Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.

The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.

Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.

The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.

Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.

The customer does not have the default strategy and default collector assigned at the customer account and site level.

Correct Answer: C, E

To initiate a bankruptcy request at the customer site level on behalf of a customer, two conditions must be met. First, preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections. This configuration is critical for the system to allow bankruptcy requests. Second, bankruptcy must be applied at the customer level, including all transactions at the customer, account, and site levels. This ensures that the bankruptcy status encompasses all relevant transactions and accounts tied to the customer.

Question 4 of 79

Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

Verify Customer Payments.

Assign a Collector to a delinquent customer.

View the Total Amount Due for delinquent customers.

Record an activity to create a task or tasks to follow up on a delinquent customer.

Update the work status of a work item for a delinquent customer.

Correct Answer: C, D, E

From the Collections Dashboard, you can view the total amount due for delinquent customers, record an activity to create tasks to follow up on a delinquent customer, and update the work status of a work item for a delinquent customer. These activities are essential for managing and tracking delinquent accounts effectively.

Question 5 of 79

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?

Set the credit classification revenue recognition policy to look for Line First and Tax Later.

Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

Set the payment terms revenue recognition policy to look for Line First and Tax Later.

Correct Answer: C

To ensure that the $500 USD payment is applied to the item line first and $0 USD to tax, set the Application Rule Set to Line First--Tax After at the transaction type level and/or as a default value at system options. This configuration prioritizes the application of payments to the item line before any tax amounts, aligning with the goal of applying the payment only to the item line.