Oracle EBS R12.1 Receivables Essentials - 1Z1-518 Exam Questions [2026]

QUESTION NO: 1
Journal creation rules in Subledger Accounting are defined by event type and event class. Identify the event type associated with the event class of reverse.

A. adjustment B. chargeback C. transactions D. invoice E. bills receivable F. credit memo G. receipts

Correct Answer: G

QUESTION NO: 2
Identify two options that users can specify using Multi-Org preferences. (Choose two.)

A. set up frequently accessed forms and webpages B. set up the access to a limited list of Operating Units C. set up frequently accessed responsibilities D. set up date, currency, and number formats E. set up the default Operating Unit

Correct Answer: B,E

QUESTION NO: 3
BT Inc. Is Implementing Oracle Accounts Receivable to Interface with an external non-Oracle legacy billing system. The client wants Receivables to generate accounting entries, Instead of sending accounting data through the Interface.
Identify four setup items that are used by Receivables to generate the General Ledger (GL) code combinations.
(Choose four,)

A. standard memo line B. transaction source C. AutoAccounting D. customer bill-to site E. transaction type F. accounting rules

Correct Answer: A,C,D,E

QUESTION NO: 4
What are the four required fields when defining a request set? (Choose four.)

A. Active Date B. Application C. Set D. Set Code E. Description F. Owner

Correct Answer: A,B,C,D

QUESTION NO: 5
There are several setup steps for receipts in Oracle Receivables; some are required whereas others are optional.
Which two setup steps are optional? (Choose two.)

A. Define AutoCash rule sets. B. Define receipt methods. C. Define application rule sets. D. Define receipt classes. E. Define receipt sources.

Correct Answer: A,C

QUESTION NO: 6
Select four values that default from profile classes In Oracle Accounts Receivable.
(Choose four.)

A. statement cycle B. credit classification C. payment terms D. business purpose E. legal entity F. currency

Correct Answer: A,B,C,F

QUESTION NO: 7
XYZ Corp. has operations In the U.S. and Canada. Within Canada, it has two separate Divisions due to Statutory requirements: one in Quebec and another in Ontario.
How would you define the organization structure for XYZ Corp. from the Information given above?

A. two Ledgers, two Legal Entitles, and two Operating Units B. two Ledgers, three Legal Entities, and two Operating Units C. two Ledgers, two Legal Entitles, and three Operating Units D. two Ledgers, three Legal Entitles, and three Operating Units E. three Ledgers, three Legal Entities, and three Operating Units

Correct Answer: D

QUESTION NO: 8
You have just opened the Transactions form. Which field would you see on this form?

A. cost center B. company C. operating unit D. legal entity

Correct Answer: D

QUESTION NO: 9
Identify two correct statements about Oracle Receivables. (Choose two.)

A. Receipt accounting can be transferred after the receipts are entered and saved. B. AutoAccounting is only used for the imported transactions. C. Receivables transactions cannot be changed after they are printed. D. Errors in the AutoInvoice are sent to the Interface Exceptions table. E. Transfer to General Ledger can transfer transaction accounting entries after the transactions are entered and saved.

Correct Answer: A,D

QUESTION NO: 10
Identify the two values that the Reporting Level parameter can have when using cross organization reports with the Multi-Org Access Control feature. (Choose two.)

A. Operating Unit B. Business Group C. Security Profile D. Legal Entity E. Ledger

Correct Answer: A,E