Oracle Fusion Financials 11g Accounts Receivable Essentials : 1z0-506

Oracle 1z0-506 Actual PDF
  • Exam Code: 1z0-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Oct 03, 2026
  • Q & A: 123 Questions and Answers
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About Oracle 1z0-506 Exam

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Oracle 1z0-506 Exam Syllabus Topics:

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

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  Question #1

                                                                  Select three valid statements related to the Shared Service Model.

                                                                  • A. Shared Service Personnel can process invoices for various business units.
                                                                  • B. Shared Service Personnel can see customer account details across business units.
                                                                  • C. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.
                                                                  • D. Shared Service Personnel can do cross-business unit cash application.
                                                                  • E. Shared Service Personnel can view Invoices across various business units.
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: A,B,E  🗳️

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

                                                                  Question #2

                                                                  The drilldown option available in the task pane for receipts does NOT include ____________.

                                                                  • A. Create Receipt via Spreadsheet
                                                                  • B. Create Remittance via Spreadsheet
                                                                  • C. Correct Funds Transfer Errors
                                                                  • D. Lockbox Transmission History
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C  🗳️

                                                                  Question #3

                                                                  Select three values that the dunning letter generation program includes.

                                                                  • A. Invoice
                                                                  • B. Unapplied
                                                                  • C. Debit memo
                                                                  • D. Prepayments
                                                                  • E. Credit memo
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: A,B,C  🗳️

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

                                                                  Question #4

                                                                  A company operates in a country with strict legislative requirements that requires the legal entity to maintain its accounting data separate from other legal entities within the company. How will you assign legal entitles during the accounting configuration?

                                                                  • A. One legal entity per primary ledger
                                                                  • B. One legal entity per ledger
                                                                  • C. One legal entity for ALL ledgers
                                                                  • D. Multiple legal entities sharing the same ledger
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: A  🗳️

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

                                                                  Question #5

                                                                  What are the three ways a Dispute Request can be submitted?

                                                                  • A. By a Billing Manager through the Transaction UI in the Adjustment Work Area
                                                                  • B. By an Account Receivables Specialist through the Receivables Balances Work Area
                                                                  • C. By a Collections Agent through the Advanced Collections application in the Customer Work Area
                                                                  • D. By a Receivable Manager through the Reconciliation Work Area
                                                                  • E. By a Billing Specialist through the Billing Work Area
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C,D,E  🗳️

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

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