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

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

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Oracle 1z1-506 Exam Syllabus Topics:

SectionObjectives
Topic 1: Receipt Management- Customer refunds management
- Funds capture definition
- Receipt dashboard usage
- Receipt processing
Topic 2: Collections- Dispute handling management
- Customer correspondence process
- Collection preferences setup
- Collections dashboard functionality
- Delinquency process deployment
Topic 3: Other Accounts Receivable Topics- Write-offs, adjustments, and chargebacks
- Late charges usage
- Period close process setup
- Subledger accounting configuration
Topic 4: Overview of Receivables- Receivables dashboard analysis
- Reference data sets configuration
- Customer management in Accounts Receivable
- Shared service model configuration
Topic 5: Billing and Revenue Management- Billing dashboard analysis
- Revenue management
- Bill presentment architecture
- Process billing transactions

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. The Billing manager has navigated to the Billing Work Area to complete a transaction. The Incomplete transactions Overview Region on the Billing Work Area page has a drilldown option through which column to complete the transaction?

A) Transaction Date
B) Transaction Class
C) Transaction Number
D) transaction Source


2. The Receipts Pending Application region in the Receivables Dashboard provides Information about which two Items?

A) Receipt Status
B) Control Amount
C) Batch type
D) Amount
E) Receipt Date


3. You have confirmed an automatic receipt in error. What is the correct method to rectify the error?

A) Reverse and recreate the receipt.
B) Delete the automatic receipt batch.
C) Remove the receipt from the batch.
D) Unconfirm the automatic receipt.


4. Select three features that the Shared Service model provides to satisfy business needs.

A) Ability to submit and view data across different ledgers
B) Different business units can take orders; however, orders can be managed by a shared service desk having multiple business unit access.
C) Ability to view consolidated requisitions across business units
D) Supports access of asset Information across multiple asset books
E) Secures user access to business units data


5. Which three actions are facilitated through The Reconciliation Summary Report?

A) Drill down to see details of what still needs to be transferred and posted to the General Ledger.
B) Drill down to view the data and use standard Excel functionalities like sum, find, sort, and filtering WITHOUT downloading to Excel.
C) Drill down to see reconciliation details and make reconciling for corrections.
D) Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.
E) Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.


Solutions:

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

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