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Oracle 1z0-1056-21: As an Implementation Consultant, you want to define approval limits for Receivables.

By: Author Alex Lim

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Question

As an Implementation Consultant, you want to define approval limits for Receivables. Which two statements are correct? (Choose two.)

A. The approval limits are used by the auto adjustment program.
B. The approval limits are set per user, document type, and currency.
C. The implementation user can create their own approval limits.
D. The approval limits per user and per currency are shared across the document types.

Answer

B. The approval limits are set per user, document type, and currency.
D. The approval limits per user and per currency are shared across the document types.

Explanation

The correct answers are B and D. The following two statements are correct:

The approval limits are set per user, document type, and currency.

The approval limits per user and per currency are shared across the document types.

Here is a detailed explanation:

B. The approval limits are set per user, document type, and currency. This is true because you can define approval limits for your users for specific transaction activities and amount ranges per currency. The transaction activities are identified by the document types, such as Adjustment, Receipt Write-off, or Credit Memo Refund. You can assign different approval limits to different users for the same or different document types and currencies.

D. The approval limits per user and per currency are shared across the document types. This is true because the approval limits are defined at the user level, not at the document type level. This means that if a user has an approval limit of 1000 USD, this limit applies to all the document types that the user can approve, such as Adjustment, Receipt Write-off, or Credit Memo Refund. You can’t define different approval limits for different document types for the same user and currency.

A. The approval limits are used by the auto adjustment program. This is false because the auto adjustment program uses the system options settings to determine the maximum adjustment amount and percentage for each transaction type. The approval limits are used when you create or approve an adjustment manually.

C. The implementation user can create their own approval limits. This is false because the implementation user can’t create their own approval limits. The approval limits are created by a Receivables administrator who has access to the Manage Approval Limits task in Receivables.

Reference

Oracle Financials Cloud: Receivables 2021 Implementation Essentials 1z0-1056-21 certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the Oracle Financials Cloud: Receivables 2021 Implementation Essentials 1z0-1056-21 exam and earn Oracle Financials Cloud: Receivables 2021 Implementation Essentials 1z0-1056-21 certification.