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Question 1

Multiple choice

What are the three validation steps required for implementing dispute processing?

A
Transaction types are set up with appropriate Credit Memo types.
B
Periods for which the transaction can be disputed are Open.
C
The Document Sequencing required is set up.
D
BPM Work List for approval configuration is validated.
E
The Recognize Revenue program is scheduled.

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Correct answersA, B, D

Question 2

Single choice

The Billing Manager has to Bill Adjustment Duty role associated with him.

Which task he cannot perform?

A
Update Receivables Invoice
B
Update Receivables Credit memo
C
Review Customer Account Activities
D
Dispute Receivables Transaction

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Correct answerC

Question 3

Single choice

Which transaction will be included when selecting transactions of specified customers in the Createm 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

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Correct answerC

Question 4

Multiple choice

The rules applicable to issue refunds are . Select two.

A
You can NOT refund more than either the original receipt amount or the remaining unapplied amount.
B
You can refund receipts that were either remitted or cleared.
C
You can issue a credit card refund to a customer who has made a cash payment.
D
You can refund receipts that are factored.

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Correct answersA, B

Question 5

Multiple choice

What three Items must be set up in the Application Set Up Manager to facilitate refunds?

A
Credit card refunds
B
Non credit card refunds
C
Automatic Receipt Handling
D
Credit Card Chargeback
E
Late charges

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Correct answersA, C, D

Question 6

Single choice

An Invoice was billed incorrectly and the Billing Specialist has created an adjustment for the Invoice. The Billing Specialist submitted it for approval but it was rejected by the Billing Manager.

What is true in this scenario?

A
The adjustment is closed and the process is ended without any invoice or accounting impact.
B
The adjustment is routed back to the Billing Specialist for further action and is in the More Research status.
C
The adjustment is closed and the invoice balance is reduced by the adjustment amount.
D
The adjustment is routed back to the Billing Specialist with the Rejected status.

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Correct answerD

Question 7

Single choice

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

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Correct answerB

Question 8

Single choice

The Collections Manager is identifying delinquent transactions, while submitting the Determine Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?

A
Only those business units for which there are delinquent customers
B
Only those business units for which the user has access
C
Only the business unit to which the user belongs
D
All business units in the organization

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Correct answerB

Question 9

Multiple choice

Identify two late charge interest calculation methods.

A
Average Daily Balance
B
Overdue Transactions
C
Adjusted Balance
D
Previous Balance

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Correct answersA, B

Question 10

Multiple choice

Which two display columns that impact the Collections Dashboard are defined in the Global Setup Preference Region?

A
Display of open transactions
B
Display of customer profile
C
Default exchange rate
D
Default transaction class
E
Display of closed receipts

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Correct answersA, D

Question 11

Multiple choice

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

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

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Correct answersA, B, E

Question 12

Single choice

The Billing manager has navigated to the Billing Work Area to complete a transaction.
The Incomplete transactions Overview Region on the Billing Work Area page have a drilldown option through which column to complete the transaction?

A
Transaction Number
B
transaction Source
C
Transaction Date
D
Transaction Class

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Correct answerA

Question 13

Single choice

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.

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Correct answerB

Question 14

Single choice

When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu.

Identify the action you need to take.

A
Click on the Settings button to apply the appropriate settings so that the business unit appears in the chop down menu.
B
Click the check box to enter the default business unit if it is NOT appearing in the drop down menu.
C
Only the business units the user has access to will appear in the list of values.
Modify the security options to provide access to the user.
D
The business unit is NOT a required option In the Parameters tab to run the delinquency process.

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Correct answerC

Question 15

Single choice

The Billing Specialist receives information that the invoice was billed with the incorrect freight amount.

What action is required?

A
Perform Credit Memos when the original invoice has billing error (such as incorrect freight amounts, line item pricing, tax amounts, and finance charges) or the entire invoice should be corrected.
B
Perform adjustments when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be corrected.
C
The freight amount must be correct; the Billing Specialist must review it again.
D
A Dispute Request can be submitted by the Billing Specialist through the Billing Work Area.
E
Perform Debit memos when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be created.

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Correct answerA

Question 16

Single choice

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.

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Correct answerD

Question 17

Single choice

Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?

A
Limiting the display using the ad hoc parameter
B
Drilldown to see reconciling details
C
Drilldown to see what needs to transfer and post to the general ledger
D
Graphical and visualization components for viewing the reconciliation details
E
The reasons for the reconciling differences

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Correct answerC

Question 18

Single choice

Oracle has seeded out of the box printing templates defined for each transaction class.

How many pre-seeded templates are available?

A
4
B
6
C
5
D
8

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Correct answerC

Question 19

Single choice

The Billing Specialist receives information that the invoice was billed with the incorrect freight amount.

What action is required?

A
Perform Credit Memos when the original invoice has billing error (such as incorrect freight amounts, line item pricing, tax amounts, and finance charges) or the entire invoice should be corrected.
B
Perform adjustments when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be corrected.
C
The freight amount must be correct; the Billing Specialist must review it again.
D
A Dispute Request can be submitted by the Billing Specialist through the Billing Work Area.
E
Perform Debit memos when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be created.

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Correct answerA

Question 20

Single choice

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

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Correct answerB

Free 1Z0-506 Exam Dumps Preview

Oracle Fusion Financials 11g Accounts Receivable Essentials

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