Exam 1z0-962 topic 1 question 55 discussion

DF is the right answer.

The only thing that seems to be clear from the comments is that B, C & E are NOT the right answer. It is very possible that this question should be a select three answers and not 2 answers - I am speculating (so, ADF). No time to verify...but usually the case when given 5 or more answers.

I think its A and F, D is also very close but D says: For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code. But the D option doesn't elaborate on the tax code part, as per oracle Distribute the tax amount to the tax accounts specified by the tax rate code on the invoice. "on the invoice" part is missing,for that I feel D may be incorrect. For the option A: Activity: Allocate the tax amount to the asset or liability tax accounts that you define for this Receivables activity. This source is available if the Receivables Activity Type is Miscellaneous cash. For the option F: For applied credit memos, accounting is based on the Receivables profile option of AR: Use Invoice Accounting for Credit Memos. When you set this to: Yes, Receivables uses the account references given on the original invoice for the credit memo. No, Receivables references the AutoAccounting options. Details: https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_A171B08E6857B20AE040D30A68810FBA

A, D Correct Answers https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_A171B08E6857B20AE040D30A68810FBA Activity: Allocate the tax amount to the asset or liability tax accounts that you define for this Receivables activity. This source is available if the Receivables Activity Type is Miscellaneous cash. f you specify a tax rate code source of Invoice, then Receivables uses the tax accounting information defined for the invoice tax rate codes to automatically account for the tax.

DF https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_A171B08E6857B20AE040D30A68810FBA Accounting for Tax on Applied Credit Memos For applied credit memos, accounting is based on the Receivables profile option of AR: Use Invoice Accounting for Credit Memos. When you set this to: Yes, Receivables uses the account references given on the original invoice for the credit memo. No, Receivables references the AutoAccounting options. Accounting for Tax on Receivables Adjustments and Miscellaneous Receipts The tax rate code source you specify for the Receivables activity determines whether Receivables calculates and accounts for tax on adjustments, discounts, and miscellaneous receipts assigned to this activity. If you specify a tax rate code source of Invoice, then Receivables uses the tax accounting information defined for the invoice tax rate codes to automatically account for the tax.