Oracle Oracle Certifications 1Z0-506 Questions & Answers

• Question 71:

  Where is the summary delinquency data displayed on the Collections Dashboard?

  A. Customer Aging tab

  B. Profiles tab

  C. Correspondence tab

  D. Transactions tab

  Correct Answer: D

• Question 72:

  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 73:

  A dunning letter issued at the customer business operational-level includes which transactions?

  A. Only account level transactions.

  B. Only customer-level transactions

  C. Only bill-to-location-level transactions

  D. Customer-, account-, AND bill-to-location level transactions

  Correct Answer: D

• Question 74:

  The AutoCash Rule Set defines the order in which the system will apply the receipt to an open debit Item.

  Which Autocash Rule is NOT defined in the receivables setup?

  A. Clear past due invoices grouped by Payment Terms

  B. Clear past due invoices

  C. Apply to the oldest invoice first

  D. Apply to the latest invoice first

  Correct Answer: D

• Question 75:

  Which three scenarios require a debit memo reversal?

  A. To reverse a miscellaneous receipt

  B. To reverse a receipt that has a chargeback with an adjustment against it

  C. To reverse a receipt with remitted credit card refund application

  D. To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive

  E. To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative

  Correct Answer: BCE

• Question 76:

  Which three transaction types are used to generate late charges?

  A. Invoice Interest

  B. Debit Memo

  C. Credit Memo

  D. Adjustments against the original transaction

  E. Cash Receipts

  Correct Answer: ABD

• Question 77:

  A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account.

  Select three valid setups that will enable an override of the receipt remittance bank account.

  A. Enable the Allow Override option on the receipt.

  B. Both the receipt and remittance batch bank account should have different General Ledger at accounts defined.

  C. Enable the Ignore the Override option on the remittance batch.

  D. Enable the Override Bank option on the receipt remittance bank.

  E. Disable the Ignore Override option on the remittance batch.

  Correct Answer: ADE

• Question 78:

  The Billing manager has navigated to the Billing Work Area to complete a transaction. The Incomplete transactions Overview Region on the Billing Work Area page have a drilldown option through which column to complete the transaction?

  A. Transaction Number

  B. transaction Source

  C. Transaction Date

  D. Transaction Class

  Correct Answer: A

• Question 79:

  Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level.

  How will bills be generated?

  A. Sites l and 3 activities will be included in a single bill.

  B. Sites 1 and 2 activities will be included in a single bill.

  C. Sites 2 and 3 activities will be included in a single bill.

  D. Sites 1, 2, and 3 activities will be included in a single bill.

  Correct Answer: B

• Question 80:

  You have completed the period-end activities and have set the receivables period to Close Pending. Now you need to make further adjustments.

  What is the correct approach?

  A. The receivables accounting period can be re-opened when the period status is Close Pending, and last minute adjustments can be made.

  B. Once the receivables accounting period is set to Close Pending, it can NOT be re-opened, and NO further adjustments can be made.

  C. Adjustments can be made even if the receivables accounting period is set to Close Pending.

  D. Adjustments can be made anytime regardless of the receivables accounting period value.

  Correct Answer: A