1Z0-506 Online Practice Questions and Answers

A company has implemented a flat interest calculation late charges. Determine the late charge based on:

Amount Overdue = $1,500

Interest Rate = 20%

Days Overdue = 10

Days in period = 30

Outstanding Charges = $80

A.

$300

B.

$100

C.

$105.33

D.

$1,580

What are the three ways a Dispute Request can be submitted?

A. By a Collections Agent through the Advanced Collections application in the Customer Work Area

B. By a Billing Specialist through the Billing Work Area

C. By an Account Receivables Specialist through the Receivables Balances Work Area

D. By a Billing Manager through the Transaction UI in the Adjustment Work Area

E. By a Receivable Manager through the Reconciliation Work Area

Tables for the Customer Master are owned by .

A. Oracle Fusion Receivables

B. Oracle Fusion Distributed Order Orchestration

C. Oracle Fusion Trading Community Architecture

D. Oracle Fusion Customer Relationship Management

Which three scenarios require a debit memo reversal?

A. To reverse a miscellaneous receipt

B. To reverse a receipt that has a chargeback with an adjustment against it

C. To reverse a receipt with remitted credit card refund application

D. To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive

E. To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative

For refund requests, Autoinvoice automatically places the on-account amount of a refund request if and .

A. the receipt to be refunded has NOT yet been remitted

B. receipts with different payment types were used to pay the same transaction to be credited

C. installments that existed on the transaction were fully paid

D. the receipt does NOT have on account credit memo against it

Which three duties are associated with the Payment Management Specialist role?

A. Create receivables refund.

B. Create receivables credit card refund.

C. Create receivables credit card charge back.

D. Billing inquiry duty.

E. Receipt creation duty.

Which three steps of the Fund Capture Process are controlled by rules in the Fund Capture Process Profile?

A. Formatting messages

B. Creation of Settlement grouping rules

C. Building Settlements into a settlement batch

D. Creation of routing rules

E. Transmitting messages to the payment system

The method used to capture receipts data in mass while offline and upload the receipts at a later data is called .

A. Manual receipt entry

B. Receipts via spread sheet.

C. Lockbox receipts

D. Automatic receipts

The Billing Specialist created and completed an invoice for $100 for Customer A. She prints the invoice and realizes that the invoice should have been created for Customer B, not Customer A. The accounting for the transaction for Customer A is posted to the General ledger.

How can this be corrected?

A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.

B. Create an on account credit memo for $100 for the invoice and enter a new invoice for Customer B.

C. Change the status of invoice to incomplete, and enter a new invoice for Customer B.

D. Navigate to credit transaction link in the billing work area, credit the entire amount, and enter a new invoice for Customer B.

When reversing a receipt, if an adjustment or chargeback exists, how are the off- setting adjustments created?

A. Manually using the Adjustment Reversal

B. Manually using Chargeback Reversal activities

C. Automatically using the Adjustment Reversal and Chargeback Reversal activities

D. Automatically, but WITHOUT using the Adjustment Reversal and Chargeback Reversal activities

E. Manually, but WITHOUT using Adjustment Reversal and Chargeback Reversal activities