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1Z0-506 Online Practice Questions and Answers

Questions 4

Select three valid statements related to the Shared Service Model.

A. Shared Service Personnel can view Invoices across various business units.

B. Shared Service Personnel can do cross-business unit cash application.

C. Shared Service Personnel can process invoices for various business units.

D. Shared Service Personnel can see customer account details across business units.

E. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.

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Questions 5

Which are the two interface tables that transaction data will be imported to when using the Autoinvoice Feature?

A. AR_INTERFACE_CONTS_ALL

B. AR_INTERFACE_CONT_ALL

C. RA_INTERFACE_SALES_ALL

D. RA_INTERFACE_DISTRIBUTIONS_ALL

E. RA_INTERFACE_DIST_ALL

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Questions 6

The client has implemented automatic revenue recognition using Revenue Polity Definitions. The payment term threshold of 150 days has been entered in the revenue policy. An invoice of $5,000 is imported with payment term that has four equal installment terms.

Net 60

Net 90

Not 120

Net 180

Select the amount of revenue that would be deferred in this case.

A. $1, 250

B. $2,500

C. $1.750

D. $5,000

E. $4, 750

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Questions 7

Identify the different dunning letter versions provided to the customer.

A. Final Demand, Soft, Medium

B. Regular, Medium, Hard

C. Regular, Final Demand, Medium

D. Soft, Regular, Hard

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Questions 8

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

A. Transaction exclusion can be done during creation of the transaction.

B. Transaction exclusion for a statement can be done at each transaction level.

C. Transaction exclusion can NOT be done during the creation of a transaction.

D. Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.

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Questions 9

A Collections Agent wants to verify that the delinquency status are accurately assigned and all the dependent processes have occurred.

Which three options are true in this scenario?

A. Go to the Collector's Work Queue and see whether the delinquent accounts are listed under the Delinquent Accounts node.

B. Navigate to the Collections tab to find all delinquencies In the Collection Header.

C. Navigate to the Transactions tab to verify that the open work items are listed.

D. If strategies are used, go to the Collector's Work Queue and verify that the strategy work items are listed.

E. Select the Collections window to see the dunning events that have occurred.

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Questions 10

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

A. Customer Aging tab

B. Profiles tab

C. Correspondence tab

D. Transactions tab

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Questions 11

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

A. Schedule periodic write offs as receipt adjustments for small remaining balances.

B. Create write-offs for overpayment amount.

C. It is NOT mandatory to set up a write-off account in your receivables activity.

D. Create write-offs for overpayment and underpayment amounts.

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Questions 12

Which three duties are associated with the Payment Management Specialist role?

A. Create receivables refund.

B. Create receivables credit card refund.

C. Create receivables credit card charge back.

D. Billing inquiry duty.

E. Receipt creation duty.

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Questions 13

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 can now be printed.

B. The invoice gets send for a dunning follow-up.

C. The invoice is eligible for transfer to the General Ledger.

D. Payment schedules get created using the payment terms specified.

E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

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Exam Code: 1Z0-506
Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
Last Update: Mar 08, 2025
Questions: 128
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