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AR Interview Questions & Answers - Learning Mode

AR Interview Questions & Answers - Learning Mode

This eBusiness Suite (Oracle Financials) AR training class is designed for the working financial professional and previous experience with accounts receivable tasks and general ledger interfaces is helpful.

Try AR Interview Questions & Answers - Exam Mode


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AR Interview Questions & Answers - Learning Mode
Try AR Interview Questions & Answers - Exam Mode
Question: What are value sets?

Answer: Valuesets r collection of set of Values.

There r six types of value sets available in Oracle Apps.

1) Dependent.

2) Independent.

3) Special.

4) None.

5) Table.

6) Pair.

Question: What is the importance of Batch Source set up in AR ?

Answer: Batch sources control the standard transaction type assigned to a transaction and determine whether Receivables automatically numbers your transactions and transaction batches. You can define two types of transaction batch sources:
Imported Source:
Question: What do you mean by HZ_ in customer tables?

Answer: All tables that starts with HZ_ are related to the Trading Community Architechture (TCA). In these table we can find all the information about the Customers, Organization, Person's.
From release 11i TCA came into picture in Accounts Recievable module, where oracle has grouped all the customer information at one place. Most important tables in TCA are HZ_PARTIES, HZ_CUST_ACCOUNTS_ALL, HZ_CUST_ACCT_SITES_ALL, HZ_CUST_SITE_USES_ALL, HZ_LOCATIONS, HZ_PARTY_SITES, HZ_PARTY_SITE_USES, HZ_CONT Source:
Question: Explain Accounting for invoice in Advance and Arrears.

Answer: Accointing for invoice in advance

a) Receivable A/c .....................Dr.

To Unearned revenue a/c

(when we raise the invoice with invoicing rule as advance)

b) Unearned Revenue A/c .............. Dr.

To Revenue A/c

(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)

Accounting fo Source:
Question: What is FSG and what is its use?

Answer: Financial Statment Generation (FSG), we can create different financial statement and we will get finacial reports. Source:
Question: Describe the main tables involved in AR, and what is the data stored in them

- ERRORS Source:
Question: What is MRC and what is its use?

Answer: Multiple Reporting Currencies is a unique set of features embedded in Oracle Apps that allows you to maintain and report accounting records at the transaction level in more than one functional currency. Source:
Question: How many reporting currencies can be attached to Primary Set of Books?

Answer: For a given currency or primary SOB we can define maximum of 8 reporting SOBs

Question: What is the use of Transaction Flexfield in Autoinvoice ?

Answer: Transaction Flexfield actually identifies the the uniqueness among the Multiple lines of a single Invoice Source:
Question: How is the balance of an invoice derived ?

Answer: Use application rule set to control how Receivable will reduce the balance due of open debit items when you apply payments.
Question: What is the difference between _all, _tl, _vl, _v tables in Oracle Apps ?

Answer: _all : Table holds all the information about different operating units. Multi-Org environment. You can also set the client_info to specific operating unit to see the data specific to that operating unit only.

_TL : Translation Tables. where we can find the name of the particular field we are referring to. All _TL tables has a unique ID which corresponds the foreign key to other table which is used to store in the database and referenced back to display the name.

_V: are views. Source:
Question: How many Flex fields are there in AR and what are they?

Answer: There are 3 flix fields are there

1.arta flexfield

2.salestax flexfileld

3.territory flexfield
Question: What are the new features in Release 11I?

Answer: The main features in Release 11i is

1.Multi Org-To support Multiple organizations.

1.Multi Currency-Defineing the multiple currencies to single organization

2.Multi Lingual-Suporting of multi Languages.

Question: What is the difference between conversions and interfaces ?

Answer: Conversion is a process by which we transfer legacy data from temporary tables to base tables.
Interfaces also does the same but is a daily process and most of the interfaces are automated by scheduling. Example:AutoInvoice Source:


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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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