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  • Exam Code: 1z0-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Jul 26, 2026
  • Q & A: 123 Questions and Answers
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  • Exam Code: 1z0-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
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  • Exam Code: 1z0-506
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Oracle 1z0-506 Exam Syllabus Topics:

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

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  1. The default dunning contact name can be specified in the __________.

                                                                  A) Dunning Configuration Details in the Manage Dunning Configuration
                                                                  B) Preferences in the Manage Collection Preferences
                                                                  C) Create Dunning Configuration in the Manage Dunning Configuration
                                                                  D) Global Preferences in the Manage Collection Preferences


                                                                  2. Tables for the Customer Master are owned by ____________.

                                                                  A) Oracle Fusion Customer Relationship Management
                                                                  B) Oracle Fusion Distributed Order Orchestration
                                                                  C) Oracle Fusion Receivables
                                                                  D) Oracle Fusion Trading Community Architecture


                                                                  3. The rules applicable to issue refunds are____________. Select two.

                                                                  A) You can NOT refund more than either the original receipt amount or the remaining unapplied amount.
                                                                  B) You can refund receipts that were either remitted or cleared.
                                                                  C) You can refund receipts that are factored.
                                                                  D) You can issue a credit card refund to a customer who has made a cash payment.


                                                                  4. When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu. Identify the action you need to take.

                                                                  A) Click on the Settings button to apply the appropriate settings so that the business unit appears in the chop down menu.
                                                                  B) Only the business units the user has access to will appear in the list of values. Modify the security options to provide access to the user.
                                                                  C) Click the check box to enter the default business unit if it is NOT appearing in the drop down menu.
                                                                  D) The business unit is NOT a required option In the Parameters tab to run the delinquency process.


                                                                  5. Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?

                                                                  A) Transaction exclusion can NOT be done during the creation of a transaction.
                                                                  B) Transaction exclusion for a statement can be done at each transaction level.
                                                                  C) Transaction exclusion can be done during creation of the transaction.
                                                                  D) Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.


                                                                  Solutions:

                                                                  Question # 1
                                                                  Answer: B
                                                                  Question # 2
                                                                  Answer: B
                                                                  Question # 3
                                                                  Answer: A,B
                                                                  Question # 4
                                                                  Answer: B
                                                                  Question # 5
                                                                  Answer: B

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