Oracle 1Z0-506 Online Practice Questions and Exam Preparation

Oracle 1Z0-506 Online Questions & Answers

• Question 41:

  Users can choose to EXCLUDE specific transactions in a Balance Forward Bill.

  Which statement is true about transaction exclusion?

  A. Transaction exclusion can be done during creation of the transaction.
  B. Transaction exclusion for a statement can be done at each transaction level.
  C. Transaction exclusion can NOT be done during the creation of a transaction.
  D. Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.
  B. Transaction exclusion for a statement can be done at each transaction level.

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  Note:

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  The Override terms option makes available to transactions non-balance forward payment terms and the one balance forward billing payment terms you defined in the previous step. This lets you exclude individual transactions from balance forward billing by assigning the transaction non- balance forward payment terms.

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  If the Override Terms option on the customer profile is set to Yes, then you can remove transactions from the bill by assigning these transactions non-balance forward billing payment terms. These transactions are excluded from the next run of the balance forward bill. Instead an individual document is printed for each of these transactions.

• Question 42:

  You are the Billing Manager and you are in charge of reviewing transactions and approving them.

  Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?

  A. Pending My Approval
  B. Pending Approval
  C. Pending Approval from Others
  D. Approved
  E. Pending Research
  B. Pending Approval
  C. Pending Approval from Others

• Question 43:

  A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?

  A. Review the invoice in the Review Customer Account Details user interface.
  B. Apply, reverse, or process the receipt.
  C. Create an open debit memo.
  D. Review receipt-, in pending status
  A. Review the invoice in the Review Customer Account Details user interface.

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  The contextual area of the Review Customer Account Details page displays information about the most recent transaction and the most recent receipt belonging to the selected customer account. If there were multiple transactions or receipts on the same date, Oracle Fusion Receivables displays the transaction and receipt with the largest amount.

• Question 44:

  Which three ways will changing the customer information impart the collection process?

  A. Making changes In the Profile tab Impacts the collection process.
  B. Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.
  C. Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.
  D. Changing the Collector impacts the individual working with the delinquent customer.
  E. Changing Information in the Profile Tab does NOT have an impact on the level in which the collections are done.
  A. Making changes In the Profile tab Impacts the collection process.
  B. Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.
  C. Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.

• Question 45:

  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
  A. Formatting messages
  C. Building Settlements into a settlement batch
  E. Transmitting messages to the payment system

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  A funds capture process profile contains rules that control each of the following steps of the funds capture process:

  Formatting messages

  Building settlements into a settlement batch Transmitting messages to the payment system

  Reference:

  Oracle Fusion Applications Financials Implementation Guide, Funds Capture Process Profile: Explained

• Question 46:

  Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level.

  How will bills be generated?

  A. Sites l and 3 activities will be included in a single bill.
  B. Sites 1 and 2 activities will be included in a single bill.
  C. Sites 2 and 3 activities will be included in a single bill.
  D. Sites 1, 2, and 3 activities will be included in a single bill.
  B. Sites 1 and 2 activities will be included in a single bill.

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  Bill Consolidation at Account or Site Level

  You can generate bills consolidated at either the customer account or site level:

  *

  Account-level balance forward billing lets you generate one bill for each business unit of the customer account, addressed to the primary bill-to site of the account.

  *

  Site-level balance forward billing lets you generate a balance forward bill for each bill-to site of a customer with multiple bill-to sites.

  *

  You can exclude a site from a balance forward bill by disabling balance forward billing on the customer profile of the site.

  Reference:

  Fusion Applications Help, Balance Forward Billing: Explained

• Question 47:

  What option is available for the Collection manager for viewing customer data in the Delinquent Customer Region on the collections Work Area pages?

  A. PDF view
  B. Query by Example
  C. Export to Excel
  D. Export to HTML
  B. Query by Example

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  The Collections Customer Work Area allows the collector to view and process the assigned work. The collector can search on a customer or set up a saved search. A saved search contains specific search criteria and settings that are

  captured for running exactly the same search again later. You save the visible search fields and entered criteria, selected conditions, and search mode, either basic or advanced. You can choose to save search result display settings as well,

  for example which columns to display or hide, the sort order, and column order. A saved search does not include the current set of search results, search result table filters, search result sort order, or values entered in Query By Example

  fields. Note: The Collections Dashboard automatically assigns collections work with summary information to help you prioritize and update related activities for each delinquent customer you need to manage. As work progresses, you can

  update the status so you are always working with the most up-to-date information, ensuring nothing slips through the cracks.

  Reference:

  Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide , Collections Customer Work Area: Overview

• Question 48:

  You have created an Autocash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice.

  

  Discount = Earned Only

  

  Late charges = NO

  

  Receipt = $900

  

  Receipt date = 14-Feb-2010

  

  Discount Grace Days = 5

  Which Transaction will be applied to the receipt?

  A. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010. Due Date 28- Feb-2010
  B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010, Due Date: 20- Feb-2010
  C. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb- 2010, Due Date: 28-Feb 2010
  D. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Fob- 2010, Due Date 24- Feb-2010
  C. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb- 2010, Due Date: 28-Feb 2010

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  Example: You have the following situation: Discounts = Earned Only Finance Charges = No Receipt = $1800 Receipt Date = 14-JAN-93 Discount Grace Days = 5

  

  Reference:

  Apply Partial Receipts

• Question 49:

  What are the three Multiple Receipt Creation Methods available?

  A. Manual receipt creation
  B. Standard remittance
  C. Lock box
  D. Automatic
  E. Factor remittance
  B. Standard remittance
  D. Automatic
  E. Factor remittance

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  Note:

  In Receivables, you can apply a receipt to an open debit item before cash is actually received from the bank. Therefore, receipts with a Standard remittance method are considered receipts at risk if they have been confirmed, but not yet

  cleared. Receipts with a Factored remittance method are at risk if they have not yet been risk-eliminated.

• Question 50:

  Select three valid statements related to the Shared Service Model.

  A. Shared Service Personnel can view Invoices across various business units.
  B. Shared Service Personnel can do cross-business unit cash application.
  C. Shared Service Personnel can process invoices for various business units.
  D. Shared Service Personnel can see customer account details across business units.
  E. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.
  A. Shared Service Personnel can view Invoices across various business units.
  C. Shared Service Personnel can process invoices for various business units.
  E. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.

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  Note:

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  In Oracle Fusion applications, the service provider model defines relationships between business units for a specific business function, identifying one business in the relationship as a service provider of the business function, and the other business unit as its client.

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  Shared Service Center: Points to Consider

  Oracle Fusion applications supports shared service centers in two ways. First, with business unit security, which allows your shared service centers personnel to process transactions for other business units called clients. This was the

  foundation of Multi Org Access Control in the Oracle E- Business Suite. Second, the service provider model expands on this capability to allow a business unit and its personnel in a shared service center to work on transactions of the client

  business units. It is possible to view the clients of a service provider business unit, and to view service providers of a client business unit. Your shared service centers provide services to your client business units that can be part of other legal

  entities. In such cases, your cross charges and recoveries are in the form of receivables invoices, and not merely allocations within your general ledger, thereby providing internal controls and preventing inappropriate processing. For

  example, in traditional local operations, an invoice of one business unit cannot be paid by a payment from another business unit. In contrast, in your shared service center environment, processes allowing one business unit to perform services

  for others, such as paying an invoice, are allowed and completed with the appropriate intercompany accounting. Shared service centers provide your users with access to the data of different business units and can comply with different local

  requirements.

  Reference:

  Oracle Fusion Applications Financials Implementation Guide, Shared Service Center: Points to Consider