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  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Aug 28, 2026
  • Q & A: 123 Questions and Answers
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  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
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Oracle 1z1-506 Exam Syllabus Topics:

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

                                                          Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                          Question 1

                                                          A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open Invoices, but some of the amounts have exceeded his approval limits, what will be the result?

                                                          A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds his approval limits.
                                                          B. The program creates the adjustments with a status of Rejected for the amount that exceeds his approval limits.
                                                          C. The program can only be run if the amount is within his approval limits.
                                                          D. The program creates adjustments only for the amounts within his approval limit


                                                          Question 2

                                                          The Accounts Receivables Specialist, while reviewing a customer account, saw a customer complaint about a percentage that was NOT applied to an invoice. The Accounts Receivables Specialist decides to initiate a dispute process for this transaction. What is the action he has to perform to invoke the dispute?

                                                          A. Navigate to the Review Customer Accounts Details user interface and invoke the dispute.
                                                          B. Navigate to the Collections Workbench page and invoke the dispute.
                                                          C. Navigate to the Review and Manage Transaction Page-and invoke the dispute.
                                                          D. Navigate to the Manage Revenue Adjustments Page and invoke the dispute.


                                                          Question 3

                                                          Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level. How will bills be generated?

                                                          A. Sites 2 and 3 activities will be included in a single bill.
                                                          B. Sites l and 3 activities will be included in a single bill.
                                                          C. Sites 1 and 2 activities will be included in a single bill.
                                                          D. Sites 1, 2, and 3 activities will be included in a single bill.


                                                          Question 4

                                                          Which three ways will changing the customer information impart the collection process?

                                                          A. Changing Information in the Profile Tab does NOT have an impact on the level in which the collections are done.
                                                          B. Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.
                                                          C. Changing the Collector impacts the individual working with the delinquent customer.
                                                          D. Making changes In the Profile tab Impacts the collection process.
                                                          E. Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.


                                                          Question 5

                                                          A company has implemented a flat interest calculation late charges. Determine the late charge based on:
                                                          -Amount Overdue = $1,500 -Interest Rate = 20% -Days Overdue = 10 -Days in period = 30 -Outstanding Charges = $80

                                                          A. $1,580
                                                          B. $105.33
                                                          C. $100
                                                          D. $300


                                                          Solutions:

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

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