1Z0-506 Online Practice Questions and Answers

The collections Manager runs the Determine Delinquency Using Scoring program to identify delinquent transitions. She wants to know the status of a particular transaction.

On which tab she will find the status.

A. Customer Aging tab

B. Transaction Details tab

C. Transactions tab

D. Transaction aging tab

A grouping rule you created in the system specifies that the Items should match all mandatory and optional

attributes.

What logic is used to create the invoices from the transaction file through Autoinvoicing?

Item

A: USD (Currency), ACME (Bill-to). 5001 (Order Number), Domestic (Order Type), 1 (Transaction Number) Item

B: USD (Currency), ACME (Bill to), 5002(Order Number), Domestic (Order Type), 1 (Transaction Number) Item

C: USD (Currency), ACME (Bill to), 112 (Order Number), No Ship (Order Type), 2 Transaction Number) Item

D:

USD (Currency), BONN (Bill to), 501 (Order Number), International (Order Type), 3 (Transaction Number)

A.

Items A and B from Invoice 1, Items C and D from Invoice 2

B.

Item A from Invoice 1, Item B from Invoice 2, Items C and D from Invoice 3

C.

Items A and B from Invoice 1, Item C from Invoice 2, Hem D from Invoice 3

D.

Item A from Invoice 1, Item B from Invoice 2, Item C from Invoice 3, Item D from Invoice 4

In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.

A. The Cash and Bank charges accounts are debited and the Short term debt account is credited

B. The Cash and Bank charges accounts are debited and the Factoring account is credited

C. The Short term debt account is debited and the Factoring account is credited.

D. The Factoring account is debited and the Short term debt account is credited.

What three Work Areas are used to review and manage actionable items before the closing period?

A. The Billing Work Area for invoicing and adjustment approval related activities.

B. The Receivables Balances Work Area for customer payment and credit application processing.

C. The Revenue Adjustments Work Area for contingencies affecting revenue recognition.

D. The Receivables Balances Work Area for invoicing and adjustment approval related activities.

E. The Revenue Adjustments Work Area for customer payment and credit application processing.

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 two options are features of the Create Automatic Receipts Write-Off program?

A. Schedule periodic write offs as receipt adjustments for small remaining balances.

B. Create write-offs for overpayment amount.

C. It is NOT mandatory to set up a write-off account in your receivables activity.

D. Create write-offs for overpayment and underpayment amounts.

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

What is true about the aged dunning method?

A. Aged dunning sends dunning letters based on the age of the oldest translation and the number of days since the last letter was sent.

B. Aged dunning sends dunning letters based on the age of the oldest transaction.

C. The content of the dunning letter will NOT change as the oldest aged transaction moves into next aging bucket.

D. Multiple aged dunning letters are sent to the same customer who has more than one delinquent transaction.

Select the two key system options related to customers.

A. Default country

B. Receipt Method

C. Automatic Site Numbering

D. Customer Credit Classification

E. Transaction Source

F. Reciprocal Customer

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 an UNAPPLIED receipt.

B. Enter the receipt as an UNIDENTTFIFD receipt.

C. Enter the receipt as an on-account receipt.

D. Enter the receipt as a miscellaneous receipt.