Oracle Fusion Financials 11g Accounts Receivable Essentials (1z0-506) Free Practice Test

Question 1

Which feature allows Collectors to comment on interactions with customers?

A. Consumer Application Comments

B. Complex Application Components

C. Client Application Components

D. Common Application Components

E. Customer Application Comments

Correct Answer: D

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 2

Your Subledger Accountants are attempting to import their journals to the general ledger at the end of the period. The Journal import processes have completed with a warning and no Journals were generated. Which three steps would you take to troubleshoot this?

A. Confirm that data was sent from the subledger.

B. Delete the related data on the GL interface table.

C. Verify the output of the Journal Import Request

D. Resend the transactions from the subledgers.

E. Run the Journal Import for all the group IDs.

Correct Answer: B,C,E

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 3

You have entered invoices using the Autoinvoicing Feature. How can you review the records that are in error?

A. Click the Manage Autoinvoice Lines link to open a workbook with the specific error record.

B. Click the View Error Details link in the Autoinvoice errr region to open a workbook with the specific: error record.

C. Click the Number of Errors link in the Autoinvoice error region to open a workbook with the specific error record.

D. Click the View Autoinvoice Lines link to open a workbook wild the specific error record.

Correct Answer: C

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 4

Select the two key system options related to customers.

A. Reciprocal Customer

B. Transaction Source

C. Customer Credit Classification

D. Default country

E. Automatic Site Numbering

F. Receipt Method

Correct Answer: A,F

Question 5

An invoice for $100 has revenue deferred due to unmet payment based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 has been issued against this Invoice. Explain how revenue accounting will occur.

A. Earned revenue will be debited for $50.

B. Unearned revenue will be debited for $50.

C. Unearned revenue will be credited for $100.

D. Earned revenue will be credited for $50.

Correct Answer: B

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 6

When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu. Identify the action you need to take.

A. Click the check box to enter the default business unit if it is NOT appearing in the drop down menu.

B. The business unit is NOT a required option In the Parameters tab to run the delinquency process.

C. Click on the Settings button to apply the appropriate settings so that the business unit appears in the chop down menu.

D. Only the business units the user has access to will appear in the list of values. Modify the security options to provide access to the user.

Correct Answer: D

Question 7

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

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

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Oracle Fusion Financials 11g Accounts Receivable Essentials (1z0-506) Free Practice Test