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Oracle 1z1-506 Exam Syllabus Topics:

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. Which three scenarios require a debit memo reversal?

A) To reverse a miscellaneous receipt
B) To reverse a receipt with remitted credit card refund application
C) To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive
D) To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative
E) To reverse a receipt that has a chargeback with an adjustment against it

2. You have run the delinquency process for a customer and have navigated to the transactions tab to view the status. Why is the status for the transactions blank?

A) There was an error when updating the status during the delinquency process. Fix it and rerun the process.
B) The status of the current or paid in full transactions appear as blank.
C) The transaction status is NOT automatically updated when the process runs.
D) The status of the past due transactions appear as blank.

3. 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 is eligible for transfer to the General Ledger.
B) The invoice gets send for a dunning follow-up.
C) Payment schedules get created using the payment terms specified.
D) The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
E) The invoice can now be printed.

4. What are the three ways a Dispute Request can be submitted?

A) By a Billing Specialist through the Billing Work Area
B) By a Receivable Manager through the Reconciliation Work Area
C) By a Collections Agent through the Advanced Collections application in the Customer Work Area
D) By a Billing Manager through the Transaction UI in the Adjustment Work Area
E) By an Account Receivables Specialist through the Receivables Balances Work Area

5. Your company operates in an environment of a highly inflationary economy and fluctuating exchange rates.
Which data conversion level should you use?

A) Balance Level
B) Subledger Level or Journal Level
C) Adjustment Only
D) Only Subledger Level
E) Only Journal Level

Solutions: