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Oracle 1z1-506 Exam Syllabus Topics:

SectionObjectives
Collections- Dispute handling management
- Customer correspondence process
- Collection preferences setup
- Delinquency process deployment
- Collections dashboard functionality
Billing and Revenue Management- Billing dashboard analysis
- Revenue management
- Bill presentment architecture
- Process billing transactions
Other Accounts Receivable Topics- Late charges usage
- Write-offs, adjustments, and chargebacks
- Subledger accounting configuration
- Period close process setup
Receipt Management- Receipt dashboard usage
- Funds capture definition
- Receipt processing
- Customer refunds management
Overview of Receivables- Shared service model configuration
- Reference data sets configuration
- Receivables dashboard analysis
- Customer management in Accounts Receivable

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

Question 1

When a customer receipt does not provide sufficient information to identify the customer or invoice, which is the correct method of entering the receipt?

A. Enter the receipt as a miscellaneous receipt.
B. Enter the receipt as an on-account receipt.
C. Enter the receipt as an UNAPPLIED receipt.
D. Enter the receipt as an UNIDENTTFIFD receipt.


Question 2

Select three features that the Shared Service model provides to satisfy business needs.

A. Secures user access to business units data
B. Supports access of asset Information across multiple asset books
C. Ability to submit and view data across different ledgers
D. Ability to view consolidated requisitions across business units
E. Different business units can take orders; however, orders can be managed by a shared service desk having multiple business unit access.


Question 3

Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?

A. Graphical and visualization components for viewing the reconciliation details
B. Drilldown to see what needs to transfer and post to the general ledger
C. Limiting the display using the ad hoc parameter
D. The reasons for the reconciling differences
E. Drilldown to see reconciling details


Question 4

The AutoCash Rule Set defines the order in which the system will apply the receipt to an open debit Item. Which Autocash Rule is NOT defined in the receivables setup?

A. Apply to the latest invoice first
B. Apply to the oldest invoice first
C. Clear past due invoices
D. Clear past due invoices grouped by Payment Terms


Question 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 after 60 days
B. Recognized Immediately
C. Recognized after 100 days
D. Recognized only after manual intervention


Solutions:

Question 1
Answer: D
Question 2
Answer: A,D,E
Question 3
Answer: B
Question 4
Answer: A
Question 5
Answer: C

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