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Exam Code: CTFL_Syll2018_D

Exam Name: ISTQB Certified Tester - Foundation Level

Version: V15.35

Q & A: 208 Questions and Answers

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NEW QUESTION: 1
Which two statements are true about creating and clearing receipts for bills receivable remittances?
(Choose two.)
A. For factored remittances, receivables create a receipt when a remittance is submitted.
B. For standard remittances, Receivables updates the status of the bills receivable to Closed by running the Close Matured Bills Receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.
C. For factored remittances with the automatic clearing method, run the Automatic Clearing program to clear receipts on the receipt date plus the number of collection days.
D. For bills receivables that are factored with recourse, the receipt is applied to short-term debt and the status of the bill is updated to Paid.
E. For standard remittances, Receivables updates the status of the bills receivable to Remitted by running the Close Matured Bills Receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.
F. For bills receivables that are factored without recourse, the receipt is applied to the bills receivable upon remittance and the status of the bill is updated to Closed.
Answer: B,F
Explanation:
Explanation/Reference:
Explanation:
A: Standard remittances: Run the Bills Receivable Maturity and Risk program to create receipts and apply them to bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever comes later. Receivables updates the status of the bill receivable to Closed when the receipt is applied to the bill receivable.
D: Factored remittances: For bills receivable factored without recourse, the receipt is applied to the bill receivable upon remittance and the status of the bill is updated to Closed.
Incorrect Answers:
B: Factored remittances: For bills receivable that are factored with recourse, the receipt is applied to short- term debt and the status of the bill is updated to Remitted.
C: Factored remittances: Receivables creates a receipt when a remittance is approved.
References: https://docs.oracle.com/cd/E18727_01/doc.121/e13522/T355475T355479.htm

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