Oracle 1z1-506 Q&A - in .pdf

  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Sep 30, 2026
  • Q & A: 123 Questions and Answers
  • PDF Price: $59.99
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Oracle 1z1-506 Q&A - Testing Engine

  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Sep 30, 2026
  • Q & A: 123 Questions and Answers
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Oracle 1z1-506 Exam Syllabus Topics:

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

                                                          Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                          Question #1

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

                                                          • A. Create write-offs for overpayment and underpayment amounts.
                                                          • B. Schedule periodic write offs as receipt adjustments for small remaining balances.
                                                          • C. Create write-offs for overpayment amount.
                                                          • D. It is NOT mandatory to set up a write-off account in your receivables activity.
                                                          Reveal Solution  Discussion  0

                                                          Correct Answer: B,C  🗳️

                                                          Explanation: Only visible for Prep4sureGuide members. You can sign-up / login (it's free).

                                                          Question #2

                                                          The Customer Search feature in the Collections Dashboard allows collectors to find a customer by ____________.

                                                          • A. Acccount
                                                          • B. Bill-to
                                                          • C. Customer name, account, or bill-to
                                                          • D. Customer name
                                                          Reveal Solution  Discussion  0

                                                          Correct Answer: C  🗳️

                                                          Question #3

                                                          Dunning can be configured using ___________.

                                                          • A. can NOT be configured by business units
                                                          • B. only multiple business units
                                                          • C. only one business unit
                                                          • D. both by single business unit or multiple business units
                                                          Reveal Solution  Discussion  0

                                                          Correct Answer: D  🗳️

                                                          Explanation: Only visible for Prep4sureGuide members. You can sign-up / login (it's free).

                                                          Question #4

                                                          What are the three valid statements related to third-party control accounts that have the type Customer?

                                                          • A. The customer subledger third party balances will be updated when Journal is completed to Draft Status.
                                                          • B. When the third party control account is assigned to a journal line, information such as name and site MUST be provided.
                                                          • C. The subledger journal entry lines that use this account MUST have customer information.
                                                          • D. The customer sub ledger third-party balances will be updated when Journal is completed to Final Status.
                                                          • E. The subledger Journal entry lines that use this account need not have customer information
                                                          Reveal Solution  Discussion  0

                                                          Correct Answer: B,C,D  🗳️

                                                          Explanation: Only visible for Prep4sureGuide members. You can sign-up / login (it's free).

                                                          Question #5

                                                          ABC, Inc. has business units A and B.
                                                          ABC, Inc. acquires XYZ Corporation and adds business unit C.
                                                          The Receivable Manager can see only transactions for business units A and B, but NOT C.
                                                          Why is business unit C NOT visible to the Receivables Manager?

                                                          • A. Business units A and B belong lo different ledgers than business unit
                                                          • B. The Receivable Manager is NOT assigned with a data role relevant to business unit C.
                                                          • C. Business units A and B represent different legal entities as compared to business unit C.
                                                          • D. Business units A and C belong to different subledgers than business unit C.
                                                          Reveal Solution  Discussion  0

                                                          Correct Answer: B  🗳️

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