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Oracle Exam 1Z0-1163-1 Topic 7 Question 4 Discussion
Topic #: 7
What is the primary function of Receipt Accounting in Oracle Fusion Cloud SCM?
Receipt Accounting (D) in Oracle Fusion Cloud SCM records the receipt of goods and services, generating accounting entries that reflect these transactions for financial reporting and cost tracking. When a shipment of 500 units arrives, Receipt Accounting logs the event, assigns costs (e.g., $5,000), and creates entries like 'Inventory Debit' and 'Accounts Payable Credit,' ensuring financial accuracy. Option A is incorrect---timely invoice payment is a downstream accounts payable process, not Receipt Accounting's role. Option B is false---contract validation occurs in procurement, not here. Option C is wrong---Receipt Accounting feeds into Cost Accounting, enhancing, not eliminating it. This function ensures compliance with accounting standards, provides visibility into goods received, and supports accurate financial statements, bridging physical and financial supply chain activities.
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