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Oracle 1z1-506 Exam Syllabus Topics:

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

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

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

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

3. What two items are required for customer invoicing?

A) Remit-to address
B) Customers
C) Customer Profile Classes
D) Lockbox

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) Fusion Receivables assigns a DEFAULT profile class when creating an account site.
D) Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.
E) Profile class updates and assignments are managed using effective date ranges.
F) Updates applied to a particular account or site effect the profile class record.

5. The client has implemented revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and acceptance clause (100 days). Explain when revenue will be recognized.

A) Recognized only after manual intervention
B) Recognized after 100 days
C) Recognized Immediately
D) Recognized after 60 days

Solutions: