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Oracle 1Z0-506 Exam -

Free 1Z0-506 Sample Questions:

Q: 1
Your Subledger Accountants are attempting to import their journals to the general ledger at the end of the period. The Journal import processes have completed with a warning and no Journals were
generated. Which three steps would you take to troubleshoot this?
A. Resend the transactions from the subledgers.
B. Delete the related data on the GL interface table.
C. Confirm that data was sent from the subledger.
D. Verify the output of the Journal Import Request
E. Run the Journal Import for all the group IDs.
Answer: B, D, E

Q: 2

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.
Answer: A, B

Q: 3
The Customer Search feature in the Collections Dashboard allows collectors to find a customer by ________.
A. Customer name
B. Acccount
C. Bill-to
D. Customer name, account, or bill-to
Answer: D

Q: 4
Select the valid setup that creates the revenue account distribution in the case of a debit memo reversal.
A. Auto Accounting Rule for revenue line type
B. Revenue Account Specified in Debit Memo transaction type
C. Cash account on the receipt
D. Revenue account of the original transaction to which the receipt is applied
Answer: B

Q: 5
The Accounts Receivables Specialist, while reviewing a customer account, saw a customer complaint about a percentage that was NOT applied to an invoice. The Accounts Receivables Specialist decides to initiate a dispute process for this transaction. What is the action he has to perform to invoke the dispute?
A. Navigate to the Collections Workbench page and invoke the dispute.
B. Navigate to the Review and Manage Transaction Page-and invoke the dispute.
C. Navigate to the Review Customer Accounts Details user interface and invoke the dispute.
D. Navigate to the Manage Revenue Adjustments Page and invoke the dispute.
Answer: B

Q: 6
The client has implemented revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and acceptance clause (100 days). Explain when revenue will be recognized.
A. Recognized Immediately
B. Recognized after 60 days
C. Recognized after 100 days
D. Recognized only after manual intervention
Answer: C

Q: 7
Which transaction will be included when selecting transactions of specified customers in the Create Balance Forward Billing Program?
A. Transactions that have a Bill Type of Imported
B. Transactions that were included on a previous Balance Forward Bill
C. Transactions that have the selected payment terms
D. Transactions that have the Print Option set to Do Not Print
Answer: C

Q: 8
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.
Answer: A, C, E

Q: 9
Which three steps of the Fund Capture Process are controlled by rules in the Fund Capture Process Profile?
A. Formatting messages
B. Creation of Settlement grouping rules
C. Building Settlements into a settlement batch
D. Creation of routing rules
E. Transmitting messages to the payment system
Answer: A, C, E

Q: 10
The Billing Specialist has entered an invoice in a foreign currency. After completing the invoice she realized that she has to adjust the conversion rate on the transaction. The invoice is already paid and has a receipt applied to it. Which is the setup that is NOT relevant to the Billing Specialist?
A. Adjust the conversion rate.
B. Incomplete the transaction.
C. Reverse the transaction.
D. Recreate the transaction at a new rate.
Answer: D

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