Oracle 1z1-506 : Oracle Fusion Financials 11g Accounts Receivable Essentials

  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Aug 07, 2026   Q&As: 123 Questions and Answers

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Oracle 1z1-506 Exam Syllabus Topics:
SectionObjectives
Topic 1: Receipts and Cash Management- Receipt Processing
  • 1. Automatic Receipts
    • 2. Receipt Methods
      • 3. Manual Receipts
        - Receipt Application
        • 1. Applying Receipts
          • 2. Adjustments and Refunds
            Topic 2: Enterprise and Receivables Configuration- Enterprise Structures
            • 1. Ledgers and Legal Entities
              • 2. Reference Data Sets
                • 3. Business Units
                  - Receivables System Options
                  • 1. Document Sequencing
                    • 2. Transaction Sources
                      Topic 3: Reporting and Period Close- Period Close
                      • 1. Reconciliation
                        • 2. Close Process
                          - Reporting
                          • 1. Analytics and Dashboards
                            • 2. Receivables Reports
                              Topic 4: Customer and Account Management- Customer Data
                              • 1. Customer Profiles
                                • 2. Account Sites
                                  • 3. Customer Accounts
                                    Topic 5: Transaction Processing- Accounting
                                    • 1. Subledger Accounting
                                      • 2. AutoAccounting
                                        - Billing and Invoicing
                                        • 1. Credit Memos
                                          • 2. Debit Memos
                                            • 3. Invoices
                                              Topic 6: Receivables Implementation Overview- Oracle Fusion Financials Architecture
                                              • 1. Integration with Other Financial Modules
                                                • 2. Receivables Business Flow
                                                  Topic 7: Collections and Credit Management- Collections
                                                  • 1. Delinquency Management
                                                    • 2. Collection Strategies
                                                      - Credit Management
                                                      • 1. Credit Profiles
                                                        • 2. Credit Limits
                                                          Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                          1. 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) It is NOT mandatory to set up a write-off account in your receivables activity.
                                                          C) Create write-offs for overpayment amount.
                                                          D) Create write-offs for overpayment and underpayment amounts.


                                                          2. Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?

                                                          A) Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.
                                                          B) Transaction exclusion can be done during creation of the transaction.
                                                          C) Transaction exclusion can NOT be done during the creation of a transaction.
                                                          D) Transaction exclusion for a statement can be done at each transaction level.


                                                          3. What are the three Multiple Receipt Creation Methods available?

                                                          A) Standard remittance
                                                          B) Lock box
                                                          C) Automatic
                                                          D) Manual receipt creation
                                                          E) Factor remittance


                                                          4. What are the three drilldown options available in the task pane for Receipt Remittance?

                                                          A) Create receipt remittance batch
                                                          B) Lockbox transmission history
                                                          C) Apply credit memo
                                                          D) Manage fund transfers
                                                          E) Manage receipt remittance batches


                                                          5. What is true about the aged dunning method?

                                                          A) Multiple aged dunning letters are sent to the same customer who has more than one delinquent transaction.
                                                          B) Aged dunning sends dunning letters based on the age of the oldest transaction.
                                                          C) Aged dunning sends dunning letters based on the age of the oldest translation and the number of days since the last letter was sent.
                                                          D) The content of the dunning letter will NOT change as the oldest aged transaction moves into next aging bucket.


                                                          Solutions:

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

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