Free Oracle 1Z0-1006 Exam Dumps Questions & Answers

When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency?
(Choose two.)

• A.  Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
• B.  Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
• C.  Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
• D.  Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
• E.  Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

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?

• A.  Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
• B.  Set the credit classification revenue recognition policy to look for Line First and Tax Later.
• C.  Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
• D.  Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
• E.  Set the payment terms revenue recognition policy to look for Line First and Tax Later.

In what three ways will changing customer information impact the collection process? (Choose three.)

• A.  Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
• B.  Making changes on the Profile tab impacts the collection process.
• C.  Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
• D.  Changing information on the Profile tab does not have an impact on the level at which collections are done.
• E.  Changing the Collector impacts the individual working with the delinquent customer.

Identify two values that default from Customer Profile Classes. (Choose two.)

• A.  Business Purpose
• B.  Tax
• C.  Legal Entity
• D.  Statement Cycle
• E.  Payment Terms

Identify the receivables system option that relates to customers.

• A.  Default Country
• B.  Automatic Site Numbering
• C.  Receipt Method
• D.  Reciprocal Customer