Oracle Fusion Financials 11g Accounts Receivable Essentials (1z1-506) Free Practice Test

Question 1

Which are the two interface tables that transaction data will be imported to when using the Autoinvoice Feature?

A. AR_INTERFACE_CONT_ALL

B. RA_INTERFACE_DIST_ALL

C. RA_INTERFACE_DISTRIBUTIONS_ALL

D. AR_INTERFACE_CONTS_ALL

E. RA_INTERFACE_SALES_ALL

Correct Answer: C,E

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Question 2

The client has implemented automatic revenue recognition using Revenue Polity Definitions. The payment term threshold of 150 days has been entered in the revenue policy. An invoice of $5,000 is imported with payment term that has four equal installment terms.
-Net 60 -Net 90 -Not 120
-Net 180
Select the amount of revenue that would be deferred in this case.

A. $1, 250

B. $5,000

C. $2,500

D. $1.750

E. $4, 750

Correct Answer: B

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Question 3

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 status of the past due transactions appear as blank.

B. There was an error when updating the status during the delinquency process. Fix it and rerun the process.

C. The status of the current or paid in full transactions appear as blank.

D. The transaction status is NOT automatically updated when the process runs.

Correct Answer: B

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Question 4

You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?

A. Incomplete the transaction.

B. Create a credit memo.

C. Duplicate the original transaction.

D. Correct the unit price.

E. Reverse the Transaction.

Correct Answer: B,C

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Question 5

The Receivables Dashboard provides Information on Incomplete transactions. What are the parameters the dashboard uses to provide this information?

A. Period, Business Unit, Transaction Source, Amount

B. Period, Business Unit, Transaction Type, Amount

C. Period, Business Unit, Type, Amount

D. Period, Business Unit, Status, Batch Type

Correct Answer: D

Question 6

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 1, 2, and 3 activities will be included in a single bill.

B. Sites 2 and 3 activities will be included in a single bill.

C. Sites 1 and 2 activities will be included in a single bill.

D. Sites l and 3 activities will be included in a single bill.

Correct Answer: C

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Question 7

Identify two credit memo options.

A. Paid freight

B. Invoice lines

C. Advance

D. Paid amount only

E. Tax only

Correct Answer: A,E

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Question 8

Select the true statement about Balance Forward Billing.

A. Balance Forward Bill must be enabled at each bill-to site level.

B. Balance Forward Bills tan be created for a future date.

C. Balance Forward Bill of a previous cycle need NOT be generated as Final to generate the balance Forward Bill of the current cycle.

D. Transactions included on a Balance Forward Bill can be updated.

Correct Answer: A

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Question 9

Select two values that are set up in Correspondence Configuration.

A. Exclude from dunning

B. Dunning configuration set

C. Dunning letter options

D. Rerun the dunning process

Correct Answer: B,C

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Oracle Fusion Financials 11g Accounts Receivable Essentials (1z1-506) Free Practice Test