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Oracle 1z1-506 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Receipts and Cash Management | - Receipt Processing
|
| Topic 2: Collections and Credit Management | - Credit Management
|
| Topic 3: Receivables Implementation Overview | - Oracle Fusion Financials Architecture
|
| Topic 4: Enterprise and Receivables Configuration | - Receivables System Options
|
| Topic 5: Transaction Processing | - Billing and Invoicing
|
| Topic 6: Customer and Account Management | - Customer Data
|
| Topic 7: Reporting and Period Close | - Period Close
|
Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:
Question 1
In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.
A. The Factoring account is debited and the Short term debt account is credited.
B. The Cash and Bank charges accounts are debited and the Factoring account is credited
C. The Cash and Bank charges accounts are debited and the Short term debt account is credited
D. The Short term debt account is debited and the Factoring account is credited.
Question 2
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. Reverse the transaction.
B. Adjust the conversion rate.
C. Recreate the transaction at a new rate.
D. Incomplete the transaction.
Question 3
Which feature allows Collectors to comment on interactions with customers?
A. Common Application Components
B. Consumer Application Comments
C. Client Application Components
D. Complex Application Components
E. Customer Application Comments
Question 4
When adding a customer and using profile classes to organize the customer accounts, which three options are true?
A. Receivables allows customized details of the profile class once the profile class has been assign to an account or site.
B. Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.
C. Updates applied to a particular account or site effect the profile class record.
D. Fusion Receivables assigns a DEFAULT profile class when creating an account site.
E. Profile class updates and assignments are managed using effective date ranges.
F. Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.
Question 5
A dunning letter issued at the customer business operational-level includes which transactions?
A. Customer-, account-, AND bill-to-location level transactions
B. Only customer-level transactions
C. Only bill-to-location-level transactions
D. Only account level transactions.
Solutions:
| Question 1 Answer: D | Question 2 Answer: C | Question 3 Answer: A | Question 4 Answer: A,B,E | Question 5 Answer: A |
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