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Oracle 1z0-962 Exam Practice Questions (P. 3)

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Question #11
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
  1. A
    state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
  2. B
    state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
  3. C
    state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
  4. D
    state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
  5. E
    state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

Correct Answer:
E

Question #12
What is the impact on transactions of changing the billing cycle for a customer or group of customers?
  1. A
    The billing cycle does not have any impact on new transactions.
  2. B
    Existing transactions with no activity retain the old billing cycle.
  3. C
    Existing transactions with activity adapt the new billing cycle.
  4. D
    New transactions after this change inherit the new billing cycle.

Correct Answer:
D

Question #13
Which role provides access to Receivables – Revenue Adjustments Real Time OTBI Subject area?
  1. A
    Revenue Manager
  2. B
    Accounts Receivable Manager
  3. C
    Accounts Receivable Specialist
  4. D
    Billing Specialist

Correct Answer:
C
Reference:
https://docs.oracle.com/applications/farel12/commonops_gs/FASER/FASER1349302.htm

Question #14
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
  1. A
    manually, but without using the Adjustment Reversal and Chargeback Reversal activities
  2. B
    automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
  3. C
    automatically by using the Adjustment Reversal and Chargeback Reversal activities
  4. D
    manually by using Chargeback Reversal activities
  5. E
    manually by using Adjustment Reversal activities

Correct Answer:
C
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.
Reference:
http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F569967AN5D615.htm

Question #15
Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
  1. A
    drilldown to see reconciliation details and to make reconciling corrections
  2. B
    drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
  3. C
    drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
  4. D
    drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
  5. E
    drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

Correct Answer:
BCE
Reference:
https://cloud.oracle.com/_downloads/WhitePaper_Financials_PeriodClose/oracle-erp-cloud-period-close-whitepaper.pdf

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