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

Oracle 1z1-506 test insides dumps
  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Jun 11, 2026
  • Q & A: 123 Questions and Answers
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Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. When adding a customer and using profile classes to organize the customer accounts, which three options are true?

A) Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.
B) Fusion Receivables assigns a DEFAULT profile class when creating an account site.
C) Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.
D) Updates applied to a particular account or site effect the profile class record.
E) Receivables allows customized details of the profile class once the profile class has been assign to an account or site.
F) Profile class updates and assignments are managed using effective date ranges.


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

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


3. What are the two parameters on which Collectors can create and save customer lists?

A) Work Status
B) Priority
C) Aging Bucket
D) Currency


4. Which three scenarios require a debit memo reversal?

A) To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative
B) To reverse a receipt that has a chargeback with an adjustment against it
C) To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive
D) To reverse a miscellaneous receipt
E) To reverse a receipt with remitted credit card refund application


5. A debit memo reversal must be used to reverse the receipt if the receipt ____________.

A) has a remitted credit card refund application
B) has been reconciled in Cash Management
C) has an open claim associated with it
D) is non-invoice related


Solutions:

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

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