Oracle 1Z0-1006 Online Practice Questions and Exam Preparation

Oracle 1Z0-1006 Online Questions & Answers

• Question 1:

  What validation step is required for implementing dispute processing?

  A. The Recognize Revenue Program is scheduled.
  B. BPM Work List for approval configuration is validated.
  C. Periods for which the transaction can be disputed are Open.
  D. All transactions are of the invoice type.
  B. BPM Work List for approval configuration is validated.

• Question 2:

  Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.

  Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?

  A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
  B. The program allows table hierarchies for customer bank accounts, but not for other customer information.
  C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
  D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
  E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
  D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

• Question 3:

  Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

  A. The Implementation Project is preconfigured and cannot be deleted or changed.
  B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
  C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
  D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
  E. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
  E. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

• Question 4:

  How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
  B. Only a Collections Administrator can modify the strategy.
  C. The Collector can modify the strategy from the Profile > Strategies tab.
  D. The strategy can be modified from the Manage Customers page.
  A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

• Question 5:

  The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

  A. automatic receipts creation
  B. receipts creation in a spreadsheet
  C. manual receipt entry
  D. Lockbox receipts creation
  B. receipts creation in a spreadsheet

• Question 6:

  Which two items are required for customer invoicing? (Choose two.)

  A. Lockbox
  B. Customers
  C. Remit-to-address
  D. Customer Profile Class
  A. Lockbox
  D. Customer Profile Class

• Question 7:

  After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.

  What are three results of this action? (Choose three.)

  A. Payment schedules are created using the payment terms specified.
  B. The invoice is sent for a dunning follow-up.
  C. The invoice can now be printed.
  D. The invoice is eligible for transfer to the General Ledger.
  E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
  A. Payment schedules are created using the payment terms specified.
  B. The invoice is sent for a dunning follow-up.
  C. The invoice can now be printed.

• Question 8:

  Which two statements are true about Accounting for Tax on Receivables? (Choose two.)

  A. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
  B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
  C. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
  D. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
  E. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
  F. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
  C. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
  E. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.

• Question 9:

  To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.

  Identify three set-enabled setups in Receivables. (Choose three.)

  A. Collectors
  B. Standard Memo Lines
  C. Revenue Types
  D. Receivable Specialists
  E. Revenue Contingencies
  B. Standard Memo Lines
  C. Revenue Types
  E. Revenue Contingencies

• Question 10:

  You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.

  How would you achieve this?

  A. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
  B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
  C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
  D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
  E. Set the payment terms revenue recognition policy to look for Line First and Tax Later.
  C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.