Free Oracle 1z1-506 Exam Dumps Questions & Answers

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

The drilldown option available in the task pane for receipts does NOT include ____________.

• A.  Create Receipt via Spreadsheet
• B.  Lockbox Transmission History
• C.  Correct Funds Transfer Errors
• D.  Create Remittance via Spreadsheet

The Billing manager has navigated to the Billing Work Area to complete a transaction. The Incomplete transactions Overview Region on the Billing Work Area page has a drilldown option through which column to complete the transaction?

• A.  transaction Source
• B.  Transaction Date
• C.  Transaction Class
• D.  Transaction Number

A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account. Select three valid setups that will enable an override of the receipt remittance bank account.

• A.  Both the receipt and remittance batch bank account should have different General Ledger at accounts defined.
• B.  Enable the Ignore the Override option on the remittance batch.
• C.  Enable the Override Bank option on the receipt remittance bank.
• D.  Enable the Allow Override option on the receipt.
• E.  Disable the Ignore Override option on the remittance batch.

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.  Unearned revenue will be credited for $100.
• B.  Unearned revenue will be debited for $50.
• C.  Earned revenue will be debited for $50.
• D.  Earned revenue will be credited for $50.