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Oracle 1z0-506 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Collections and Credit Management | - Collections
|
| Enterprise and Receivables Configuration | - Receivables System Options
|
| Reporting and Period Close | - Reporting
|
| Receivables Implementation Overview | - Oracle Fusion Financials Architecture
|
| Customer and Account Management | - Customer Data
|
| Receipts and Cash Management | - Receipt Application
|
| Transaction Processing | - Billing and Invoicing
|
Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:
What are the three valid statements related to third-party control accounts that have the type Customer?
- A. The customer sub ledger third-party balances will be updated when Journal is completed to Final Status.
- B. When the third party control account is assigned to a journal line, information such as name and site MUST be provided.
- C. The subledger journal entry lines that use this account MUST have customer information.
- D. The subledger Journal entry lines that use this account need not have customer information
- E. The customer subledger third party balances will be updated when Journal is completed to Draft Status.
Correct Answer: A,B,C 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
The interactive Receivables to General ledger Reconciliation Report allows reconciliation.
- A. only by account balancing segment
- B. only by ledger
- C. by ledger, specific organization, OR account balancing segment
- D. only by specific organization
Correct Answer: B 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
You have run the delinquency process for a customer and have navigated to the transactions tab to view the status. Why is the status for the transactions blank?
- A. The transaction status is NOT automatically updated when the process runs.
- B. The status of the current or paid in full transactions appear as blank.
- C. The status of the past due transactions appear as blank.
- D. There was an error when updating the status during the delinquency process. Fix it and rerun the process.
Correct Answer: D 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
What are the steps in running the AutoLockbox Concurrent Process?
- A. Enter receipts, import bank file, validate data, and post QuickCash.
- B. Enter receipts, validate data, and apply QuickCash.
- C. Import bank file, validate data, and post QuickCash.
- D. Import bank file, enter receipts, and validate QuickCash.
Correct Answer: C 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
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 USA can pay for ABC Worldwide, ABC West, and its own transactions.
- B. ABC Japan can pay its own transactions.
- C. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.
- D. ABC Japan can pay tor ABC West, ABC USA, and its own transactions.
- E. ABC USA can pay for ABC West and its own transactions.
Correct Answer: B,C,E 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
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