10 free sample questions from a bank of 70, with the correct answers and explanations. No signup required — start practising right now.
1Your 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.
Answer: C
2When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.
miscellaneous receipt
quick cash receipt
manual receipt
automatic receipt
AutoLockbox receipt
Answer: D
3Your 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?
state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
Answer: E
4What is the impact on transactions of changing the billing cycle for a customer or group of customers?
The billing cycle does not have any impact on new transactions.
Existing transactions with no activity retain the old billing cycle.
Existing transactions with activity adapt the new billing cycle.
New transactions after this change inherit the new billing cycle.
Answer: D
5Which role provides access to Receivables – Revenue Adjustments Real Time OTBI Subject area?
Revenue Manager
Accounts Receivable Manager
Accounts Receivable Specialist
Billing Specialist
Answer: C
6When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
manually, but without using the Adjustment Reversal and Chargeback Reversal activities
automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
automatically by using the Adjustment Reversal and Chargeback Reversal activities
manually by using Chargeback Reversal activities
manually by using Adjustment Reversal activities
Answer: C
7Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
drilldown to see reconciliation details and to make reconciling corrections
drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
Answer:
8What is the order used to group transaction lines during the AutoInvoice Import process?
Transaction Source, Customer Site Profile, Customer Account Profile, system options
System options, Customer Site Profile, Transaction Source, Customer Account Profile
Transaction Source, Customer Account Profile, Customer Site Profile, system options
Transaction Source, Customer Account Profile, system options, Customer Site Profile
Answer: A
9You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
short-term debt clearing days
risk elimination days
clearing days
collection days
lead days
recall days
Answer: A
10Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.
How will you correct the error?
by using the Customer Import Interface work area
by using the correct Customer Payment Method spreadsheet
by using the correct Customer Data spreadsheet
by importing the correct data by using a new spreadsheet upload