Oracle Oracle Applications 1Z0-506 Questions & Answers

• Question 1:

  What three Items must be set up in the Application Set Up Manager to facilitate refunds?

  A. Credit card refunds

  B. Non credit card refunds

  C. Automatic Receipt Handling

  D. Credit Card Chargeback

  E. Late charges

  Correct Answer: ACD

• Question 2:

  You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions.

  What parameters are used to summarize the exceptions for review?

  A. Business Unit, Transaction Type, Invoice Date, Currency

  B. Business Unit, Customer Name, Transaction Source, Total Amount

  C. Business Unit, Transaction Source, Creation Date, Currency

  D. Business Unit, Transaction Source, Transaction Type, Creation Date

  Correct Answer: D

• Question 3:

  The Billing Specialist receives information that the invoice was billed with the incorrect freight amount.

  What action is required?

  A. Perform Credit Memos when the original invoice has billing error (such as incorrect freight amounts, line item pricing, tax amounts, and finance charges) or the entire invoice should be corrected.

  B. Perform adjustments when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be corrected.

  C. The freight amount must be correct; the Billing Specialist must review it again.

  D. A Dispute Request can be submitted by the Billing Specialist through the Billing Work Area.

  E. Perform Debit memos when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be created.

  Correct Answer: A

• Question 4:

  The Accounts Receivables Specialist reviews receipt with a status of Pending from the Review Customer Account Details UI in the Receivables work area. She has to reverse a particular receipt.

  What action does she take?

  A. Navigate to the Create Automatic Receipts UI the receipt, and create a debit memo.

  B. Navigate to the Create Receipts UI and create a new receipt for the customer.

  C. Navigate to the Manage Receipts UI, reverse the receipt, and create a credit memo.

  D. Navigate to the Manage Receipts UI, reverse the receipt, and create a debit memo.

  Correct Answer: C

• Question 5:

  Select three values that the dunning letter generation program includes.

  A. Invoice

  B. Unapplied

  C. Credit memo

  D. Debit memo

  E. Prepayments

  Correct Answer: ABD

• Question 6:

  Which two Collection Preferences can be selected as the default transaction class for the transaction tab?

  A. Guarantee

  B. Credit Memo

  C. Charge back

  D. Deposit

  E. Debit Memo

  Correct Answer: AD

• Question 7:

  Select two values that are set up in Correspondence Configuration.

  A. Dunning letter options

  B. Dunning configuration set

  C. Exclude from dunning

  D. Rerun the dunning process

  Correct Answer: AB

• Question 8:

  Which three actions are facilitated through The Reconciliation Summary Report?

  A. Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.

  B. Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.

  C. Drill down to see details of what still needs to be transferred and posted to the General Ledger.

  D. Drill down to see reconciliation details and make reconciling for corrections.

  E. Drill down to view the data and use standard Excel functionalities like sum, find, sort, and filtering WITHOUT downloading to Excel.

  Correct Answer: ABD

• Question 9:

  The Receivables Dashboard provides Information on Incomplete transactions. What are the parameters the dashboard uses to provide this information?

  A. Period, Business Unit, Transaction Type, Amount

  B. Period, Business Unit, Transaction Source, Amount

  C. Period, Business Unit, Status, Batch Type

  D. Period, Business Unit, Type, Amount

  Correct Answer: B

• Question 10:

  When a customer receipt does not provide sufficient information to identify the customer or invoice, which is the correct method of entering the receipt?

  A. Enter the receipt as an UNAPPLIED receipt.

  B. Enter the receipt as an UNIDENTTFIFD receipt.

  C. Enter the receipt as an on-account receipt.

  D. Enter the receipt as a miscellaneous receipt.

  Correct Answer: B