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

1z1-506 real exams

Exam Code: 1z1-506

Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials

Updated: Sep 15, 2026

Q & A: 123 Questions and Answers

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Oracle 1z1-506 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Transaction Processing25%- Invoicing
  • 1. Manage credit and debit memos
    • 2. Create and update invoices
      • 3. Correct and adjust transactions
        - Revenue Management
        • 1. Review revenue accounting
          • 2. Define revenue recognition policies
            • 3. Manage contingencies
              Topic 2: Receivables Setups22%- System Options
              • 1. Set up autoaccounting
                • 2. Define receivables system options
                  • 3. Configure accounting options
                    - Transactions Setup
                    • 1. Define transaction types
                      • 2. Set up memo lines
                        • 3. Configure transaction sources
                          - Receipts Setup
                          • 1. Set up remittance bank accounts
                            • 2. Configure autoCash rule sets
                              • 3. Define receipt classes and methods
                                Topic 3: Receipt Processing and Application20%- Receipt Creation
                                • 1. Process automatic receipts
                                  • 2. Enter manual receipts
                                    • 3. Import receipts via lockbox
                                      - Receipt Application
                                      • 1. Manage unapplied and on-account receipts
                                        • 2. Process chargebacks and adjustments
                                          • 3. Apply receipts to open items
                                            Topic 4: Collections and Period Close13%- Collections Management
                                            • 1. Use collections dashboard
                                              • 2. Process disputes and follow-ups
                                                • 3. Manage dunning and correspondence
                                                  - Period Close
                                                  • 1. Generate reports and inquiries
                                                    • 2. Complete receivables period close
                                                      • 3. Reconcile to general ledger
                                                        Topic 5: Customer Management20%- Credit Management
                                                        • 1. Configure credit checking rules
                                                          • 2. Set up credit limits
                                                            - Customer Accounts
                                                            • 1. Define profile classes
                                                              • 2. Manage customer sites and contacts
                                                                • 3. Create and maintain customer accounts

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  Question #1

                                                                  Identify the different dunning letter versions provided to the customer.

                                                                  • A. Soft, Regular, Hard
                                                                  • B. Final Demand, Soft, Medium
                                                                  • C. Regular, Final Demand, Medium
                                                                  • D. Regular, Medium, Hard
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: A  🗳️

                                                                  Question #2

                                                                  Your company operates in an environment of a highly inflationary economy and fluctuating exchange rates.
                                                                  Which data conversion level should you use?

                                                                  • A. Subledger Level or Journal Level
                                                                  • B. Only Journal Level
                                                                  • C. Balance Level
                                                                  • D. Adjustment Only
                                                                  • E. Only Subledger Level
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: E  🗳️

                                                                  Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                                                                  Question #3

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

                                                                  • A. Drilldown to see reconciling details
                                                                  • B. Graphical and visualization components for viewing the reconciliation details
                                                                  • C. Limiting the display using the ad hoc parameter
                                                                  • D. Drilldown to see what needs to transfer and post to the general ledger
                                                                  • E. The reasons for the reconciling differences
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: D  🗳️

                                                                  Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                                                                  Question #4

                                                                  What is the action you perform on a transaction once you drill down to the edit transaction window from the Billing Work Area page?

                                                                  • A. Incomplete Transaction
                                                                  • B. Reverse the Transaction
                                                                  • C. Complete and Review
                                                                  • D. Create a New Transaction
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C  🗳️

                                                                  Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                                                                  Question #5

                                                                  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 NOT be done during the creation of a transaction.
                                                                  • C. Transaction exclusion can be done during creation of the transaction.
                                                                  • D. Transaction exclusion for a statement can be done at each transaction level.
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: D  🗳️

                                                                  Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

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