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

1z1-506

Exam Code: 1z1-506

Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials

Updated: Jul 01, 2025

Q & A: 123 Questions and Answers

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Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. What three Items must be set up in the Application Set Up Manager to facilitate refunds?

A) Credit card refunds
B) Late charges
C) Credit Card Chargeback
D) Automatic Receipt Handling
E) Non credit card refunds


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

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


3. Where are the alerts and approvals displayed in the Collection Work Area?

A) Activities List
B) Notification Pop-up
C) Delinquent Customer List Region
D) Watch list


4. What are the steps in running the AutoLockbox Concurrent Process?

A) Enter receipts, validate data, and apply QuickCash.
B) Import bank file, enter receipts, and validate QuickCash.
C) Enter receipts, import bank file, validate data, and post QuickCash.
D) Import bank file, validate data, and post QuickCash.


5. The common subledger period close management UI allows the user to__________.

A) Manage the accounting period status.
B) Transfer unbalanced entries to the general ledger.
C) Bill and automate customer payments for adjustment approval processing
D) Balance the entries after they are transferred to the general ledger .
E) Access all subledgers.


Solutions:

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

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