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1Z0-516 Product Description:
Exam Number/Code: 1Z0-516 vce
Exam name: Oracle EBS R12.1 General Ledger Essentials
n questions with full explanations
Certification: Oracle Certification
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2016 Aug 1Z0-516 answers
Q11. In the Multi-Org model of Oracle E-Business Suite Release 12, which organization type owns Bank Account?
B. Legal Entity
C. Operating Unit
D. Balancing Entity
E. Business Group
Q12. Mark, the GL accountant comes to you and says that he is running the tests to check budget functionality. He says that the GL period is closed, but he was able to post the budget journal in a closed period. You check the setups and confirm that the GL period in which Peter was able to post the budget journal is closed. What explanation do you provide to Mark?
A. The budget year is Open.
B. The budget status is Current.
C. The budget status is Frozen.
D. The Profile option Require Budget Journal is set at the set of books level.
Q13. ABC.com is a U.S.-based company with business operations in North America and Europe. It has existing Oracle GL sets of books in its single global instance. All sets of books use a global chart of accounts and a common accounting calendar.
It just expanded its business to Australia and acquired two new companies with the same year end as ABC.com. It wants to be able to include the new companies in existing financial reports created with Financial Statements Generator (FSG).
How can it easily integrate the two new companies into its existing GL with minimal effort?
A. Define the new company values, enable AUD currency and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the two new sets of books into their existing consolidation set of books.
B. Define two new company values, define a new AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.
C. Define two new company values, enable AUD currency, and define a new set of books. Translate AUD to USD and include the two new companies for FSG reports in USD.
D. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.
E. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD and include the two new companies for FSG reports in USD.
Q14. A General Ledger user at ABC.com opens the account inquiry screen, chooses a line item, and wants to drill down to Sub-ledger and find out more details about an Accounts Payable invoice. The user is unable to drill down. What is the likely explanation for this? (Choose two.)
A. Journal source was not set up to import references.
B. Journal entry was not posted.
C. Drilldown was option not added to responsibility.
D. Journal import was not done.
E. Journal category was improperly setup.
Q15. Which two statements are true if you select the QuickMatch invoice type? (Choose two.)
A. You can use QuickMatch to match individual distribution lines.
B. You can use QuickMatch to match individual purchase order shipments.
C. Payables automatically completes the match to all available shipments on the purchase order.
D. Payables automatically creates invoice distributions on the basis of the purchase order distributions.
Leading 1Z0-516 exam question:
Q16. Company ABC has decided to use the invoice approval workflow to require approval on all invoices. Select two exceptions where Payables automatically sets the approval status to not required. (Choose two.)
A. invoices imported through EDI
B. invoices created after invoice workflow approval is enabled
C. invoices created using the Pay on Receipt Autoinvoice program
D. expense reports imported through the Payables Expense Report Import program
E. recurring invoices if the approval workflow option required was not enabled on the template
Q17. Identify three setups in Oracle Receivables that control how discounts are calculated. (Choose three.)
A. Profile options
B. Payment terms
C. System options
D. Receipt classes
E. Customer profiles
Q18. Identify the table used to load procurement card transactions.
Q19. Before you can create customer invoices, you have to define customers and your remit-to address. Identify five additional setups that are required before you can create invoices in Receivables. (Choose five.)
A. payment terms
C. Transaction sources
D. Standard memo line
E. System and profile options
F. Receivables transaction types
G. Customer account relationships
Q20. ABC Corporation wants to convert from their existing legacy application to Oracle E-Business Suite Release 12. Identify three statements that are true for invoice conversion. (Choose three.)
A. Merge all paid invoices for a supplier.
B. Invoices related to employee expense cannot be converted.
C. Establish a cutoff date after which invoices will be entered in Payables.
D. Use Payables Open Interface to convert unpaid invoices and credit memos.
E. Develop metrics that will be used to determine whether data conversion was successful.
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