Oracle Oracle Certifications 1Z0-506 Questions & Answers

• Question 21:

  Select a scenario that is NOT eligible for receipt reversal.

  A. Reversing a miscellaneous receipt

  B. Reversing a receipt applied to a transaction with a chargeback that has been posted to UK-General Ledger

  C. Reversing credit card refund receipts

  D. Reversing receipts that were applied to open receipts and both receipts have positive balance post reversal

  Correct Answer: C

• Question 22:

  The Accounts Receivable Specialist associated duty include which three duties?

  A. Trading Community Hierarchy Management Duty

  B. Receipt Creation Duty

  C. Payment Settlement Management Duty

  D. Receivables Accounting Duty

  E. Import Payables invoices Duty

  Correct Answer: BCD

• Question 23:

  The Collections Manager is identifying delinquent transactions, while submitting the Determine Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?

  A. Only those business units for which there are delinquent customers

  B. Only those business units for which the user has access

  C. Only the business unit to which the user belongs

  D. All business units in the organization

  Correct Answer: B

• Question 24:

  Which two preference definitions determine the default values during the collection process?

  A. Default aging method

  B. Default exchange rate

  C. Preference set

  D. Default contact for unknown dunning recipients

  E. Display of open transactions

  Correct Answer: AB

• Question 25:

  Select three features that the Shared Service model provides to satisfy business needs.

  A. Secures user access to business units data

  B. Supports access of asset Information across multiple asset books

  C. Different business units can take orders; however, orders can be managed by a shared service desk having multiple business unit access.

  D. Ability to view consolidated requisitions across business units

  E. Ability to submit and view data across different ledgers

  Correct Answer: ACD

• Question 26:

  An Invoice was billed incorrectly and the Billing Specialist has created an adjustment for the Invoice. The Billing Specialist submitted it for approval but it was rejected by the Billing Manager.

  What is true in this scenario?

  A. The adjustment is closed and the process is ended without any invoice or accounting impact.

  B. The adjustment is routed back to the Billing Specialist for further action and is in the More Research status.

  C. The adjustment is closed and the invoice balance is reduced by the adjustment amount.

  D. The adjustment is routed back to the Billing Specialist with the Rejected status.

  Correct Answer: D

• Question 27:

  When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu.

  Identify the action you need to take.

  A. Click on the Settings button to apply the appropriate settings so that the business unit appears in the chop down menu.

  B. Click the check box to enter the default business unit if it is NOT appearing in the drop down menu.

  C. Only the business units the user has access to will appear in the list of values. Modify the security options to provide access to the user.

  D. The business unit is NOT a required option In the Parameters tab to run the delinquency process.

  Correct Answer: C

• Question 28:

  Select the two key system options related to customers.

  A. Default country

  B. Receipt Method

  C. Automatic Site Numbering

  D. Customer Credit Classification

  E. Transaction Source

  F. Reciprocal Customer

  Correct Answer: BD

• Question 29:

  After reviewing an incomplete invoice, the Billing Manager clicked the Complete Button In the Transactions Window.

  What changes will this action create? Select three.

  A. The invoice can now be printed.

  B. The invoice gets send for a dunning follow-up.

  C. The invoice is eligible for transfer to the General Ledger.

  D. Payment schedules get created using the payment terms specified.

  E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

  Correct Answer: ACD

• Question 30:

  Which three ways will changing the customer information impart the collection process?

  A. Making changes In the Profile tab Impacts the collection process.

  B. Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.

  C. Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.

  D. Changing the Collector impacts the individual working with the delinquent customer.

  E. Changing Information in the Profile Tab does NOT have an impact on the level in which the collections are done.

  Correct Answer: ABC