Oracle Oracle Certifications 1Z0-506 Questions & Answers

• Question 61:

  Identify two credit memo options.

  A. Tax only

  B. Advance

  C. Paid freight

  D. Invoice lines

  E. Paid amount only

  Correct Answer: AC

• Question 62:

  What is the impact on transactions if you change the billing cycle for a customer of group of customers?

  A. New transaction after this change inherit the new billing cycle.

  B. Existing transactions with activity adapt the; new billing cycle.

  C. Existing transactions with NO activity retain the old billing cycle.

  D. The billing cycle does NOT have any impact on new transactions.

  Correct Answer: A

• Question 63:

  An invoice was created with unit price error on one invoice item.

  What is the next step you perform form the Billing Work Area to correct this error?

  A. Click the Create Transaction link on the task pane and create a new transaction with the right unit price.

  B. Click the Credit Transaction link on the task pane and create a credit memo for the transaction.

  C. Click the Manage Transaction link on the task pane and create a credit memo for the transaction.

  D. Click the Manage Adjustments link on the task pane and create an adjustment against the transaction.

  Correct Answer: B

• Question 64:

  An invoice for $100 has revenue deferred due to unmet payment based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 has been issued against this Invoice.

  Explain how revenue accounting will occur.

  A. Unearned revenue will be debited for $50.

  B. Earned revenue will be credited for $50.

  C. Unearned revenue will be credited for $100.

  D. Earned revenue will be debited for $50.

  Correct Answer: A

• Question 65:

  The Adjust Customer Balances activity allows you to .

  A. Write-off uncollectable invoices but does NOT allow you to write-off small balance receipts

  B. Write off small balance receipts but does NOT allow you to write-off uncollectable Invoices

  C. Write-off uncollectable invoices and write-off small balance receipts

  D. Provide approval processing of credit requests and automated receipts

  Correct Answer: A

• Question 66:

  You have entered invoices using the Autoinvoicing Feature. How can you review the records that are in error?

  A. Click the View Autoinvoice Lines link to open a workbook wild the specific error record.

  B. Click the Manage Autoinvoice Lines link to open a workbook with the specific error record.

  C. Click the Number of Errors link in the Autoinvoice error region to open a workbook with the specific error record.

  D. Click the View Error Details link in the Autoinvoice errr region to open a workbook with the specific: error record.

  Correct Answer: B

• Question 67:

  What are the three drilldown options available in the task pane for Receipt Remittance?

  A. Create receipt remittance batch

  B. Manage fund transfers

  C. Manage receipt remittance batches

  D. Apply credit memo

  E. Lockbox transmission history

  Correct Answer: ACD

• Question 68:

  There are concurrent programs that run related to data in the Overview Region of the review Customer Accounts Details user interface.

  Which program is run to synchronize the updated receivables data?

  A. Refresh Receivables transactional Events for Summary Tables Program.

  B. Process Receivables transactional Events for Summary Tables Program.

  C. Refresh Receivables Past Due Transactions for summary Tables Program

  D. Process Receivables Past Due Transactions for summary Tables Program

  Correct Answer: C

• Question 69:

  A debit memo reversal must be used to reverse the receipt if the receipt .

  A. is non-invoice related

  B. has an open claim associated with it

  C. has been reconciled in Cash Management

  D. has a remitted credit card refund application

  Correct Answer: D

• Question 70:

  In the customer hierarchy of ABC Corporation, ABC Worldwide is the parent company of ABC USA and ABC Japan. ABC West is a subsidiary of ABC USA.

  Select three valid statements if the ABC corporation hierarchy is assigned to a Pay Below Paying relationship.

  A. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.

  B. ABC Japan can pay tor ABC West, ABC USA, and its own transactions.

  C. ABC USA can pay for ABC West and its own transactions.

  D. ABC Japan can pay its own transactions.

  E. ABC USA can pay for ABC Worldwide, ABC West, and its own transactions.

  Correct Answer: ACD