Oracle Fusion Financials 11g Accounts Receivable Essentials - 1z1-506 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Which two options are features of the Create Automatic Receipts Write-Off program?

A. Create write-offs for overpayment amount. B. Create write-offs for overpayment and underpayment amounts. C. Schedule periodic write offs as receipt adjustments for small remaining balances. D. It is NOT mandatory to set up a write-off account in your receivables activity.

Discussion 0

Correct Answer: A,C Vote an answer

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Question 2

What are the three steps required to implement the Lockbox feature?

A. Set up Receipt Classes and Receipt Methods. B. Set up late charges. C. Set up Receipt Sources. D. Set up Lockbox and Lockbox Transmission Formats. E. Set up credit card refunds.

Discussion 0

Correct Answer: C,D,E Vote an answer

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Question 3

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 Manage Adjustments link on the task pane and create an adjustment against the transaction. B. Click the Create Transaction link on the task pane and create a new transaction with the right unit price. C. Click the Credit Transaction link on the task pane and create a credit memo for the transaction. D. Click the Manage Transaction link on the task pane and create a credit memo for the transaction.

Discussion 0

Correct Answer: C Vote an answer

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Question 4

A company operates in a country with strict legislative requirements that requires the legal entity to maintain its accounting data separate from other legal entities within the company. How will you assign legal entitles during the accounting configuration?

A. Multiple legal entities sharing the same ledger B. One legal entity for ALL ledgers C. One legal entity per primary ledger D. One legal entity per ledger

Discussion 0

Correct Answer: C Vote an answer

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Question 5

Where are the alerts and approvals displayed in the Collection Work Area?

A. Notification Pop-up B. Delinquent Customer List Region C. Activities List D. Watch list

Discussion 0

Correct Answer: C Vote an answer

Question 6

Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?

A. Transaction exclusion for a statement can be done at each transaction level. B. Transaction exclusion can NOT be done during the creation of a transaction. C. Transaction exclusion can be done during creation of the transaction. D. Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.

Discussion 0

Correct Answer: A Vote an answer

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Question 7

ABC, Inc. has business units A and B.
ABC, Inc. acquires XYZ Corporation and adds business unit C.
The Receivable Manager can see only transactions for business units A and B, but NOT C.
Why is business unit C NOT visible to the Receivables Manager?

A. Business units A and B belong lo different ledgers than business unit B. Business units A and B represent different legal entities as compared to business unit C. C. The Receivable Manager is NOT assigned with a data role relevant to business unit C. D. Business units A and C belong to different subledgers than business unit C.

Discussion 0

Correct Answer: C Vote an answer

Question 8

In what scenario would you delete the receipt?

A. The payment needs to be returned to the customer. B. No payment is received from the customer for the receipt amount. C. The receipt has been created but NOT yet applied to the transaction. D. The receipt has been applied to the wrong transaction.

Discussion 0

Correct Answer: C Vote an answer

Question 9

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

A. Job Responsibilities B. Account Relationships C. Payment Instruments D. Account Profiles

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Correct Answer: A Vote an answer

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Question 10

Which transaction will be included when selecting transactions of specified customers in the Create Balance Forward Billing Program?

A. Transactions that have the Print Option set to Do Not Print B. Transactions that were included on a previous Balance Forward Bill C. Transactions that have a Bill Type of Imported D. Transactions that have the selected payment terms

Discussion 0

Correct Answer: D Vote an answer

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