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- 1z0-518: Oracle EBS R12.1 Receivables Essentials
Free 1z0-518: Oracle EBS R12.1 Receivables Essentials Exam Questions and Answers
Last updated: January 14, 2025
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315-1z0-518: Oracle EBS R12.1 Receivables Essentials
#Question
What should be the first action taken when an aging report shows a large volume of overdue accounts?
A.Notify financial institutions
B.Review customer buying habits
C.Archive records
D.Initiate a dunning campaign
Correct Answer:
D
Initiating a dunning campaign addresses the issues directly with overdue accounts, promoting recovery.
#Question
Which accounting principle is upheld by maintaining accurate Receivables records?
A.Cash basis accounting
B.Accrual basis accounting
C.Conservative accounting practices
D.Managerial accounting
Correct Answer:
B
Maintaining Receivables records upholds the accrual basis of accounting, ensuring that revenue is recorded when earned.
#Question
What is a potential consequence of allowing too much credit flexibility to customers?
A.Strong customer relationships
B.Improved cash flow
C.Higher sales volume
D.Increased risk of bad debts
Correct Answer:
D
Allowing excessive credit flexibility can lead to increased risk of bad debts, negatively impacting overall financial health.
#Question
A customer has a payment plan. Who should monitor their payments?
A.Human resources
B.Sales representatives
C.A marketing team
D.The Accounts Receivable team
Correct Answer:
D
The Accounts Receivable team is responsible for monitoring payments by customers on payment plans to ensure compliance.
#Question
Why is it essential to monitor credit limits consistently?
A.To review product offerings
B.To increase sales volume
C.To coordinate staff efforts
D.To avoid potential losses
Correct Answer:
D
Consistent monitoring of credit limits is key to managing risk and avoiding potential losses from overdue accounts.
#Question
How are credit memos recorded in Receivables?
A.As a new invoice
B.As aged receivables
C.As financial adjustments
D.As customer disputes
Correct Answer:
C
Credit memos are recorded as financial adjustments to reflect corrections in customer billing.
#Question
What benefit does a follow-up on overdue accounts provide to Receivables?
A.It reduces customer engagement
B.It increases administrative workload
C.It helps maintain cash flow
D.It complicates the collection process
Correct Answer:
C
Following up on overdue accounts helps maintain strong cash flow, which is essential for business operations.
315-1z0-518: Oracle EBS R12.1 Receivables Essentials
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