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Oracle Exam 1z0-1107-2 Topic 1 Question 16 Discussion

Actual exam question for Oracle's 1z0-1107-2 exam
Question #: 16
Topic #: 1
[All 1z0-1107-2 Questions]

Your organization has decided to automate the entry of cash receipts by using a method where the customer goes and deposits the money directly into your bank account for the due invoices and the banker provides a data file to you. Which method can your organization implement to achieve this? (Choose the best Answer.)

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Suggested Answer: B

Lockbox is the method that your organization can implement to automate the entry of cash receipts by using a method where the customer goes and deposits the money directly into your bank account for the due invoices and the banker provides a data file to you. Lockbox is a service provided by banks that allows customers to deposit their payments directly into your bank account without sending them to you. The bank sends you a data file with the details of the payments and the invoices that they apply to.You can import this data file into Oracle Receivables and create receipts automatically1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1


by Candida at Apr 11, 2024, 09:56 PM

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Angelo
11 months ago
I think Lockbox is more secure and efficient compared to Automatic Receipts.
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King
12 months ago
Why not option C) Automatic Receipts? It could also be a good solution.
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Annice
12 months ago
I agree, Lockbox seems like the best method for this scenario.
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Erinn
12 months ago
I think we should go with option B) Lockbox for automating cash receipts.
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Aleta
1 years ago
I believe option C) Automatic Receipts could also work well in this scenario. It automates the receipt process and eliminates manual entry errors.
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Harrison
1 years ago
I agree with Glory. Lockbox is a secure and automated method for processing cash receipts.
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Glory
1 years ago
Lockbox allows the customer to deposit cash directly into our account, making the process more efficient.
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Latanya
1 years ago
Why do you think Lockbox is the best option, Glory?
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Glory
1 years ago
I think we should choose option B) Lockbox.
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Jose
1 years ago
A spreadsheet? Really? That seems like a pretty manual and outdated method for automating cash receipts. I don't think that's the right answer here.
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Laine
1 years ago
Okay, so we've got a few of us leaning towards Lockbox. But what about A) Spreadsheet? Could that work as well?
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Dorothy
1 years ago
I agree with Trinidad and 3. Lockbox seems like the best answer, since it's a well-established method for automating cash receipts.
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Virgina
1 years ago
I agree, Lockbox is a reliable way to automate cash receipts.
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Nichelle
1 years ago
I think the best method to implement would be Lockbox.
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Jennifer
1 years ago
Hmm, I'm not sure about that. Automatic Receipts sounds more like a generic term, not a specific method. I think Lockbox is the way to go here.
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Ashanti
1 years ago
I was thinking the same thing, but I'm not 100% confident. Wouldn't C) Automatic Receipts also work? That sounds like it might be a valid option.
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Trinidad
1 years ago
This is a tricky question. I'm not entirely sure about the right answer, but I think it might be B) Lockbox. That seems like the most logical method for automating cash receipts.
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