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

  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Jul 22, 2026
  • Q & A: 123 Questions and Answers

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Oracle 1z1-506 Exam Syllabus Topics:

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

                                                          Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                          1. Which option must be set up in order to adjust an invoice and enter an amount greater than the balance due?

                                                          A) Set the Allow Overapplication on receivables activity to Yes.
                                                          B) Set the Allow Overapplication on transaction type to Yes.
                                                          C) You can NOT enter on amount, greater than the balance due.
                                                          D) Set the Allow Overapplication on the profile options to Yes.


                                                          2. What is true about the aged dunning method?

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


                                                          3. The Accounts Receivable Specialist associated duty include which three duties?

                                                          A) Import Payables invoices Duty
                                                          B) Trading Community Hierarchy Management Duty
                                                          C) Receivables Accounting Duty
                                                          D) Payment Settlement Management Duty
                                                          E) Receipt Creation Duty


                                                          4. When adding a customer and using profile classes to organize the customer accounts, which three options are true?

                                                          A) Profile class updates and assignments are managed using effective date ranges.
                                                          B) Updates applied to a particular account or site effect the profile class record.
                                                          C) Receivables allows customized details of the profile class once the profile class has been assign to an account or site.
                                                          D) Fusion Receivables assigns a DEFAULT profile class when creating an account site.
                                                          E) Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.
                                                          F) Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.


                                                          5. An interactive report is based on real-time data and is always user interactive. What is true about Interactive reports?

                                                          A) Interactive reports ALWAYS require an ESS program to be run.
                                                          B) The user can enter parameters to limit the information to be included.
                                                          C) The report is always ad hoc.
                                                          D) The user can NOT drill down from the Interactive reports user interface


                                                          Solutions:

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

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