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1. Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?
A) Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.
B) If there is a legal entity associated with the business unit used on the transaction, then the system date is used.
C) Time zone conversion applies to the transaction date and adjustment date and NOT the accounting date on transactions.
D) Time zone is derived from the legal entity associated ONLY lo the default, business unit of the transaction.
2. What is true about the aged dunning method?
A) Aged dunning sends dunning letters based on the age of the oldest translation and the number of days since the last letter was sent.
B) The content of the dunning letter will NOT change as the oldest aged transaction moves into next aging bucket.
C) Multiple aged dunning letters are sent to the same customer who has more than one delinquent transaction.
D) Aged dunning sends dunning letters based on the age of the oldest transaction.
3. Which three scenarios require a debit memo reversal?
A) To reverse a miscellaneous receipt
B) To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative
C) To reverse a receipt with remitted credit card refund application
D) To reverse a receipt that has a chargeback with an adjustment against it
E) To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive
4. What are the three steps required to implement the Lockbox feature?
A) Set up Lockbox and Lockbox Transmission Formats.
B) Set up Receipt Classes and Receipt Methods.
C) Set up Receipt Sources.
D) Set up late charges.
E) Set up credit card refunds.
5. Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?
A) Drilldown to see reconciling details
B) Limiting the display using the ad hoc parameter
C) Graphical and visualization components for viewing the reconciliation details
D) Drilldown to see what needs to transfer and post to the general ledger
E) The reasons for the reconciling differences
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: B,C,D | Question # 4 Answer: A,C,E | Question # 5 Answer: D |
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