Oracle 1Z0-506 Online Practice Questions and Exam Preparation

Oracle 1Z0-506 Online Questions & Answers

• Question 121:

  In the customer hierarchy of ABC Corporation, ABC Worldwide is the parent company of ABC USA and ABC Japan. ABC West is a subsidiary of ABC USA.

  Select three valid statements if the ABC corporation hierarchy is assigned to a Pay Below Paying relationship.

  A. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.
  B. ABC Japan can pay tor ABC West, ABC USA, and its own transactions.
  C. ABC USA can pay for ABC West and its own transactions.
  D. ABC Japan can pay its own transactions.
  E. ABC USA can pay for ABC Worldwide, ABC West, and its own transactions.
  A. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.
  C. ABC USA can pay for ABC West and its own transactions.
  D. ABC Japan can pay its own transactions.

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  Similar example:

  Pay Below Paying Relationship

  If this Acme Corporation hierarchy is assigned a Pay Below paying relationship, then:

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  (A) Acme Worldwide can pay for Acme USA, Acme Japan, Acme West, and its own transactions.

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  (C) Acme USA can pay for Acme West and its own transactions.

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  (D) Acme Japan can pay for its own transactions. Note: This diagram illustrates the customer hierarchy in Acme Corporation:

  

  Reference:

  Oracle Fusion Applications Financials Implementation Guide, Pay Below Paying Relationship

• Question 122:

  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
  A. Transaction Number

• Question 123:

  Select three values that default from Customer Profile Classes.

  A. Currency
  B. Legal Entity
  C. Payment Terms
  D. Statement Cycle
  E. Business Purpose
  A. Currency
  C. Payment Terms
  D. Statement Cycle

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  The customer profile class shares these default settings with other parts of Oracle Fusion Receivables: Match Receipts By; AutoMatch rule set; AutoCash rule set; AutoInvoice Grouping rule; payment terms (C); and tax printing options.

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  Use Customer Profiles to group customers with similar credit worthiness, business volume, and payment cycles. For each profile class you can define information such as credit limits, payment terms, statement cycles, invoicing, and discount information. You can also define amount limits for your finance charges, dunning, and statements for each currency in which you do business. Define your standard customer profiles in the Customer Profile Classes window. These profiles contain generic options you can use to group your customers into broad categories. For example, you might define three categories: one for prompt paying customers with favorable credit limits; one for late paying customers with high finance charge rates; and a third for customers who mostly pay on time, with discount incentives for early payment. You can also use the profile class 'DEFAULT,' which the system provides. Assign a profile class to each of your customers and addresses in the Customers window. The customer profile class you assign provides the default values, then you can optionally customize these values to meet your specific requirements for each customer or address. If a profile is assigned to both a customer and one of that customer's addresses, the options set for the address take precedence over those set at the customer level.

• Question 124:

  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
  D. Customer name, account, or bill-to

• Question 125:

  The Billing Specialist created and completed an invoice for $100 for Customer A. She prints the invoice and realizes that the invoice should have been created for Customer B, not Customer A. The accounting for the transaction for Customer A is posted to the General ledger.

  How can this be corrected?

  A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
  B. Create an on account credit memo for $100 for the invoice and enter a new invoice for Customer B.
  C. Change the status of invoice to incomplete, and enter a new invoice for Customer B.
  D. Navigate to credit transaction link in the billing work area, credit the entire amount, and enter a new invoice for Customer B.
  D. Navigate to credit transaction link in the billing work area, credit the entire amount, and enter a new invoice for Customer B.

• Question 126:

  The Receivables Dashboard provides Information on Incomplete transactions.

  What are the parameters the dashboard uses to provide this information?

  A. Period, Business Unit, Transaction Type, Amount
  B. Period, Business Unit, Transaction Source, Amount
  C. Period, Business Unit, Status, Batch Type
  D. Period, Business Unit, Type, Amount
  B. Period, Business Unit, Transaction Source, Amount

• Question 127:

  Collections Dashboard is an Interactive Work Status tool that helps to prioritize and find items that need attention. Which is a valid Work Status as defined in the Collections Dashboard?

  A. New
  B. Under Process
  C. Open
  D. Closed
  C. Open

• Question 128:

  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
  C. RA_INTERFACE_SALES_ALL
  D. RA_INTERFACE_DISTRIBUTIONS_ALL

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  Note: AutoInvoice Gather Statistics Allowed: If you set this profile option to Yes, then when you submit AutoInvoice, the program first analyzes the interface tables (RA_INTERFACE_LINES_ALL, RA_INTERFACE_DISTRIBUTIONS_ALL, and RA_INTERFACE SALESCREDITS_ALL) and gathers statistics to determine how best to execute the transaction import.