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Oracle Fusion Financials 11g Accounts Receivable Essentials - 1z0-506

Exam Code: 1z0-506

Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials

Updated: Jun 14, 2026

Q & A: 123 Questions and Answers

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Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. Which two preference definitions determines the default values during the collection process?

A) Display of open transactions
B) Preference set
C) Default contact for unknown dunning recipients
D) Default aging method
E) Default exchange rate


2. You have completed the period-end activities and have set the receivables period to Close Pending. Now you need to make further adjustments. What is the correct approach?

A) Once the receivables accounting period is set to Close Pending, it can NOT be re-opened, and NO further adjustments can be made.
B) Adjustments can be made anytime regardless of the receivables accounting period value.
C) Adjustments can be made even if the receivables accounting period is set to Close Pending.
D) The receivables accounting period can be re-opened when the period status is Close Pending, and last minute adjustments can be made.


3. Which two Collection Preferences can be selected as the default transaction class for the transaction tab?

A) Debit Memo
B) Charge back
C) Deposit
D) Guarantee
E) Credit Memo


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

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


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) $300
D) $100


Solutions:

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

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