1Z0-517 Online Practice Questions and Answers

You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements:

1.

They want to be able to pay only certain types of suppliers by batch.

2.

Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention.

3.

Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued.

To meet the above requirements, you perform these steps:

A. Set up suppliers with pay groups for each type, and use them when running the payment batch.

B. Set up the payment batch with Maximum Outlay equal to $100,000 USD.

C. Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD. Which requirements have you met?

A. 2 and 3

B. 1, 2 and 3

C. 1 and 2

D. 1 and 3

Identify three statements that are correct for the multi-currency functionality of Oracle General Ledger. (Choose three.)

A. Enter transactions and reports in any currency.

B. Enter exchange rates online and automatically.

C. Translate only actual but not budgeted balances.

D. Translate only budgeted but not actual balances.

E. Use daily, period end, average, and historical rates.

Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)

A. ledgers

B. operating units

C. data access sets

D. definition access sets

E. subledger accounting method

ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use?

A. Use journal-level secondary ledger conversion.

B. Use subledger-level secondary ledger conversion.

C. Use adjustment-level secondary ledger conversion.

D. Use both subledger-level and adjustment-level secondary ledger conversion.

Select four options that can be set at the supplier site level. (Choose four.)

A. surveys

B. tax details

C. accounting

D. bank details

E. business classification

Select the income tax report that is NOT available in the Payables module.

A. Withholding Tax by Invoice

B. Withholding Tax by Supplier

C. Withholding Tax by Payment

D. Withholding Tax by Supplier Site

E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)

A. Enable "Set as offset tax."

B. Enable "Allow tax recovery."

C. Set the default recovery settlement option to "Deferred."

D. Define tax accounts, tax expense, recoverable tax, and interim tax.

E. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.

With which three modules does Oracle Payables have two-way integration? (Choose three.)

A. Projects

B. General Ledger

C. Cash Management

D. Oracle Purchasing

E. Human Resources

Identify three considerations for implementing internal controls for payment processing. (Choose three.)

A. physical security

B. fewer payment runs

C. amend payment methods

D. proper segregation of duties

E. credentials of the payment processing staff

Select four occasions when the Create Accounting process can be run. (Choose four.)

A. after the payment process

B. before the payment process

C. after the Invoice Validation process

D. before the Invoice Validation process

E. before the transfer information to GL process