Oracle 1z0-506 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1z0-506
Exam Name/Title: Oracle Fusion Financials 11g Accounts Receivable Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Applications

Exam Questions: 123
Updated On: Sep 15, 2026

Question #1

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

A. Updates applied to a particular account or site effect the profile class record.

B. Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.

C. Profile class updates and assignments are managed using effective date ranges.

D. Receivables allows customized details of the profile class once the profile class has been assign to an account or site.

E. Fusion Receivables assigns a DEFAULT profile class when creating an account site.

F. Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.

Discussion 0

Correct Answer: B,C,D Vote an answer

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Question #2

When a customer receipt does not provide sufficient information to identify the customer or invoice, which is the correct method of entering the receipt?

A. Enter the receipt as an on-account receipt.

B. Enter the receipt as an UNAPPLIED receipt.

C. Enter the receipt as an UNIDENTTFIFD receipt.

D. Enter the receipt as a miscellaneous receipt.

Discussion 0

Correct Answer: C Vote an answer

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Question #3

The Collections Manager is identifying delinquent transactions, while submitting the Determine
Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?

A. Only those business units for which there are delinquent customers

B. All business units in the organization

C. Only the business unit to which the user belongs

D. Only those business units for which the user has access

Discussion 0

Correct Answer: D Vote an answer

Question #4

In the customer hierarchy of ABC Corporation, ABC Worldwide is the parent company of ABC USA and ABC Japan. ABC West is a subsidiary of ABC USA. Select three valid statements if the ABC corporation hierarchy is assigned to a Pay Below Paying relationship.

A. ABC Japan can pay its own transactions.

B. ABC Japan can pay tor ABC West, ABC USA, and its own transactions.

C. ABC USA can pay for ABC West and its own transactions.

D. ABC USA can pay for ABC Worldwide, ABC West, and its own transactions.

E. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.

Discussion 0

Correct Answer: A,C,E Vote an answer

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Question #5

What two items are required for customer invoicing?

A. Customer Profile Classes

B. Remit-to address

C. Lockbox

D. Customers

Discussion 0

Correct Answer: B,D Vote an answer

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Question #6

Identify two credit memo options.

A. Tax only

B. Paid amount only

C. Invoice lines

D. Advance

E. Paid freight

Discussion 0

Correct Answer: A,E Vote an answer

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Question #7

What is true about the aged dunning method?

A. Aged dunning sends dunning letters based on the age of the oldest transaction.

B. The content of the dunning letter will NOT change as the oldest aged transaction moves into next aging bucket.

C. Multiple aged dunning letters are sent to the same customer who has more than one delinquent transaction.

D. Aged dunning sends dunning letters based on the age of the oldest translation and the number of days since the last letter was sent.

Discussion 0

Correct Answer: A Vote an answer

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Question #8

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 Class

B. Transaction Number

C. transaction Source

D. Transaction Date

Discussion 0

Correct Answer: B Vote an answer

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