QUESTION 53
You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate %. 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?
Option's:
A. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
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.
Answer: C
Explanation: References:Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
QUESTION 54
What is the order used to group transaction lines during the Auto Invoice Import process?
Option's:
A. Transaction Source, Customer Site Profile, Customer Account Profile, system options
B. System options, Customer Site Profile, Transaction Source, Customer Account Profile
C. Transaction Source, Customer Account Profile, Customer Site Profile, system options
D. Transaction Source, Customer Account Profile, system options, Customer Site Profile
Answer: A
Explanation: References: Transaction Source, Customer Site Profile, Customer Account Profile, system options.
QUESTION 55
A Billing Specialist has created and completed an invoice for $100 USD for Customer
A. The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer A is posted to the General Ledger.
How can this be corrected?
Option's:
A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
B. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.
C. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
D. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.
Answer: A
Answer Explanation: Create an adjustment for the entire amount and create a negative adjustment for Customer B.
QUESTION 56
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
Option's:
A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
B. by defining a grouping rule on the customer class
C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
D. by defining an item group and assigning that to the rule
E. by defining an exclusion rule to exclude customer classes that are "Retail"
Answer: A
Answer Explanation: By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute.
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