1Z0-516 Online Practice Questions and Answers

You have transferred, closed, and reconciled all subledgers. The sales manager informs you about a

material transaction that was completed on the last business day of the closing period.

Select the best option in this situation.

A. Ignoring the transaction in the current period

B. Opening the subledger to enter the transaction

C. Reversing the prior postings and retransferring data from the subledgers

D. Recording a manual accrual journal in the current period and reversing the journal in the next period

Identify four steps involved in the setup for late charges. (Choose four.)

A. Assigning different policies to your customers

B. Indicating by transaction type if a late charge policy is enforced

C. Enabling late charges in the Receivables System Options form

D. Enabling late charges in the System Profiles form at the user level

E. Deriving accounting from transaction type when late charges are in adjustment format

F. Indicating if a specific invoice should be exempt from late charges at the transaction level

After reviewing an incomplete invoice entered last week by her assistant, Jovi clicked the Complete button in the Transactions window. What are three changes this would create in Oracle Receivables? (Choose three.)

A. This invoice can now be printed.

B. A dunning letter is now sent to the customer for the invoice amount.

C. This invoice now becomes eligible to be transferred to General Ledger.

D. Payment schedules are now created based on the payment terms and invoice date.

E. The invoice is now included in the standard aging and collection process if the transaction type has open receivables set to No.

Select two correct statements for the management segment qualifier in Oracle General Ledger.

(Choose two.)

A. The management segment can be a balancing segment.

B. The management segment can be a natural account segment.

C. The management segment cannot be an intercompany segment.

D. This segment qualifier is used for management reporting and analysis.

E. Data access sets cannot limit access to specific management segment values.

After registering new data sources, you must complete your Bill Presentment Architecture by creating database views. How many database views can you create for each data source?

A. One

B. Nine

C. Three

D. Unlimited

The APPL_TOP directory in Oracle E-Business Suite Release 12 contains _____.

A. Redoes log files

B. Database files

C. Data tablespaces

D. Index tablespaces

E. The system tablespace

F. The product directories and files for Oracle Applications

Scott, a consultant with a leading consulting firm, is implementing Oracle General Ledger at a client site

and is setting up FSG reports to be used by different users.

One of the customer requirements is that all users with modify access must not be able to modify

privileges on FSG reports.

Identify the correct option to meet customer requirements.

A. Enable the security on definition by selecting the enable security check box.

B. Remove the security on definition by deselecting the enable security check box.

C. Exclude the assign access function for those definitions from the user's responsibility.

D. Define security rules and specify what actions can be performed by each user or a group of users.

E. Set up profile options against each user and specify what actions can be performed by each user or a group of users.

ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was

47.5.

Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC

Company, reviews the transactions and comes to a conclusion.

Select two correct conclusions arrived upon by Jack. (Choose two.)

A. XYZ Company is not impacted at all by this rate change.

B. XYZ Company has a positive impact by this rate change.

C. ABC Company is not impacted at all by this rate change.

D. ABC Company has a positive impact by this rate change.

You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes.

They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements.

Choose two statements that are true in the given scenario. (Choose two.)

A. The secondary ledger contains day-to-day transactions.

B. The primary ledger must contain only management adjustments.

C. The secondary ledger represents the complete management picture.

D. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.

E. Use ledger sets to combine primary and secondary ledgers to get the complete management picture.

In the Multi-Org model, which organization type is the highest level that impacts accounting?

A. Ledger

B. Operating Unit

C. Business Group

D. GRE/Legal Entity

E. Inventory Organization