Oracle Oracle Certifications 1Z0-506 Questions & Answers

• Question 51:

  The communication information region in the customer account record is used to maintain what customer information?

  A. Payment Instruments

  B. Job Responsibilities

  C. Account Relationships

  D. Account Profiles

  Correct Answer: B

• Question 52:

  Select the true statement about Balance Forward Billing.

  A. Balance Forward Bills tan be created for a future date.

  B. Transactions included on a Balance Forward Bill can be updated.

  C. Balance Forward Bill must be enabled at each bill-to site level.

  D. Balance Forward Bill of a previous cycle need NOT be generated as Final to generate the balance Forward Bill of the current cycle.

  Correct Answer: C

• Question 53:

  Select the valid reason for a Collector being UNABLE to enter a dispute against a particular transaction.

  A. The transaction date falls in a closed period.

  B. The transaction balance is zero.

  C. The transaction type is NOT associated to a credit memo type.

  D. The transaction is partially paid.

  Correct Answer: C

• Question 54:

  What are the three valid statements related to third-party control accounts that have the type Customer?

  A. The subledger journal entry lines that use this account MUST have customer information.

  B. When the third party control account is assigned to a journal line, information such as name and site MUST be provided.

  C. The subledger Journal entry lines that use this account need not have customer information

  D. The customer sub ledger third-party balances will be updated when Journal is completed to Final Status.

  E. The customer subledger third party balances will be updated when Journal is completed to Draft Status.

  Correct Answer: ABD

• Question 55:

  Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?

  A. Time zone conversion applies to the transaction date and adjustment date and NOT the accounting date on transactions.

  B. Time zone is derived from the legal entity associated ONLY lo the default, business unit of the transaction.

  C. If there is a legal entity associated with the business unit used on the transaction, then the system date is used.

  D. Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.

  Correct Answer: C

• Question 56:

  You are an Accounts Receivables Manager and you have the Receivables Inquiry Duty role attached to your Job Role.

  What tasks are you allowed to perform under this duty role?

  A. Review Customer Account Activities

  B. View Receivables Receipts

  C. Dispute Receivable transactions

  D. View Receivables Invoices

  E. View Receivables Credit Memos

  Correct Answer: A

• Question 57:

  When a customer opts to make a payment by a credit card, this receipt is identified as a (n) .

  A. manual receipt

  B. automatic receipt

  C. QuickCash receipt

  D. Autolockbox receipt

  E. miscellaneous receipt

  Correct Answer: B

• Question 58:

  Which task does NOT belong to the task list Define Business Units?

  A. Verify Service Clients.

  B. Manage Service Provider Relationships.

  C. Manage Set Assignments for Set Determinants.

  D. Verify Data Role Generation for the Business Unit Business Function

  Correct Answer: D

• Question 59:

  What are the three Multiple Receipt Creation Methods available?

  A. Manual receipt creation

  B. Standard remittance

  C. Lock box

  D. Automatic

  E. Factor remittance

  Correct Answer: BDE

• Question 60:

  For refund requests, Autoinvoice automatically places the on-account amount of a refund request if and .

  A. the receipt to be refunded has NOT yet been remitted

  B. receipts with different payment types were used to pay the same transaction to be credited

  C. installments that existed on the transaction were fully paid

  D. the receipt does NOT have on account credit memo against it

  Correct Answer: CD