Free Oracle 1z0-962 Exam Dumps Questions & Answers

An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

• A.Unearned revenue will be credited for $100 USD.
• B.Earned revenue will be credited for $50 USD.
• C.Unearned revenue will be debited for $50 USD.
• D.Earned revenue will be debited for $50 USD.

Identify the receivables system option that relates to customers.

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

Identify the dunning letter template set provided by an application.

• A.Regular, Medium, Hard
• B.Regular, Final Demand, Medium
• C.Soft, Regular, Hard
• D.Final Demand, Soft, Medium

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.Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
• B.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.
• C.Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
• D.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.
• E.Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.
Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)

• A.Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
• B.Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
• C.Customer USA can pay for Customer West and its own transactions.
• D.Customer Japan can pay its own transactions.
• E.Customer Japan can pay for Customer West, Customer USA, and its own transactions.