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Oracle 1z0-506 Exam Syllabus Topics:

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

Question 1

You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?

A. Correct the unit price.
B. Create a credit memo.
C. Reverse the Transaction.
D. Duplicate the original transaction.
E. Incomplete the transaction.

Question 2

Which three scenarios require a debit memo reversal?

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

Question 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. Payment schedules get created using the payment terms specified.
B. The invoice can now be printed.
C. The invoice is eligible for transfer to the General Ledger.
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 gets send for a dunning follow-up.

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

Question 5

The Accounts Receivable Specialist associated duty include which three duties?

A. Receivables Accounting Duty
B. Trading Community Hierarchy Management Duty
C. Receipt Creation Duty
D. Payment Settlement Management Duty
E. Import Payables invoices Duty

Solutions: