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Oracle 1z1-506 Exam Syllabus Topics:

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. Which two Collection Preferences can be selected as the default transaction class for the transaction tab?

A) Deposit
B) Guarantee
C) Debit Memo
D) Credit Memo
E) Charge back

2. The Billing Manager has to Bill Adjustment Duty role associated with him. Which task he cannot perform?

A) Update Receivables Invoice
B) Review Customer Account Activities
C) Dispute Receivables Transaction
D) Update Receivables Credit memo

3. What three Work Areas are used to review and manage actionable items before the closing period?

A) The Revenue Adjustments Work Area for contingencies affecting revenue recognition
B) The Revenue Adjustments Work Area for customer payment and credit application processing.
C) The Receivables Balances Work Area for customer payment and credit application processing
D) The Billing Work Area for invoicing and adjustment approval related activities
E) The Receivables Balances Work Area for invoicing and adjustment approval related activities.

4. What are the three drilldown options available in the task pane for Receipt Remittance?

A) Manage receipt remittance batches
B) Create receipt remittance batch
C) Apply credit memo
D) Lockbox transmission history
E) Manage fund transfers

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

Solutions: