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Oracle EBS R12.1 General Ledger Essentials

Question No: 111 – (Topic 2)

Your client is closing its first period. The Accounting Manager informs you that she is unable to transfer payables to the general ledger or run other reports. She is using the Company XYZ Payable Manager responsibility. What is the likely cause of this error?

  1. The responsibility is set up with menu exclusions.

  2. The responsibility is set up without a request group.

  3. The responsibility is set up with security attributes.

  4. The responsibility is set up without a data group.

Answer: B

Question No: 112 – (Topic 2)

Which type(s) of journal entry does General Ledger automatically reverse and post?

  1. actuals and budgets only

  2. actuals, budgets and encumbrance

  3. actuals only

  4. budgets and encumbrance only

  5. budgets only

Answer: C

Question No: 113 – (Topic 2)

ABC.com, the GL accountant, says that the budget for which she is trying to enter data requires budget journals, but she wants to enter budget amounts directly. You check the budget setups and confirm that the Require Budget Journal option is not enabled at the set of books level. What could be cause of Tess#39;s problem?

  1. The Require Budget Journal option is enabled at the budget level.

  2. The Budget status is Frozen.

  3. The budget organization is not properly defined.

  4. The Allow Preparer Approval profile option is not enabled.

  5. Data is being entered in a closed period.

    Answer: A

    Question No: 114 – (Topic 2)

    You are implementing Oracle General Ledger at a client site. The client is based in the US, but they have a global presence in many countries and transactions in multiple currencies. The implementation team decides that the Oracle General Ledger multi-currency setup will be a part of the implementation. The client#39;s Chief Financial Officer wants a system that has these features:

    1. Enter transactions and reports in any currency.

    2. Enter exchange rates online or automatically.

    3. Calculate realized and unrealized gains and losses. IV. Translate actual and budget balances.

    4. Produce foreign currency financial statements and reports. Which requirements can be satisfied with the implementation?

      1. 1, 2, and 3 only

      2. 1, 2, 3, and 4 only

      3. 1, 2, 4, and 5 only

      4. All requirements from 1 through 5 can be satisfied.

Answer: D

Question No: 115 – (Topic 2)

What does the elimination program enable you to do? (Choose all that apply.)

  1. eliminate average balances

  2. create journal entries for all values in the source account to zero them out and post them to a target account

  3. eliminate intercompany balances for fully reciprocating elimination that repeat every accounting period

Answer: B,C

Question No: 116 – (Topic 2)

You are about to set up an accounting calendar for a new set of books at ABC.com.

ABC.com#39;s fiscal year end is March 31.

The company is not sure if it wants to convert one year or two years of history in the GL.

The controller wants to choose conversion of one-year history for an April 1, 2007 go-live date, but also wants to keep the option open for conversion of two-year history (to be decided before the go-live date). ABC.com will use the GL Translation functionality, beginning from the first period, with historical GL balances.

Which solution would meet ABC.com#39;s requirement?

  1. Define the calendar for Apr-05 through Mar-08. Open Apr-05 through Apr-06 periods. Plan to convert historical data from Apr-06 through

    Mar-07. If they choose a two-year history, they can always open Apr-05 later.

  2. Define the calendar for Mar-05 through Mar-08. Open Apr-06 as the first period to convert historical data. If they choose a two-year history, they can always open Apr-05 later.

  3. Define the calendar for Mar-05 through Mar-08. Open Mar-05 through Apr-06 periods. Plan to convert historical data from Apr-06 through Mar-07. If they choose a two-year history, they can always close all periods except Apr-06 later.

  4. Define the calendar for Apr-05 through Mar-08. Open Apr-06 as the first period to convert historical data. If they choose a two-year history, they can always open Apr-05 later.

  5. Define the calendar for Mar-05 through Mar-08. Open Mar-06 though Apr-06 periods. Plan to convert historical data from Apr-06. If they choose a two-year history, they can always open Apr-05 later.

Answer: C

Question No: 117 – (Topic 2)

Which four does Oracle Consolidation enable you to consolidate? (Choose four.)

  1. multiple subsidiaries with different calendars to one parent set of books

  2. multiple subledgers such as Oracle Payables and Oracle Receivables to one parent subledger

  3. multiple subsidiaries with different currencies to one parent set of books

  4. multiple subsidiaries with same calendar to one parent set of books

  5. multiple subsidiaries to one parent set of books

Answer: A,C,D,E

Question No: 118 – (Topic 2)

Which two are true about elimination? (Choose two.)

  1. You can define balancing options for eliminating entries.

  2. You can define an elimination set to contain one elimination entry.

  3. Currency is an optional component when defining an elimination set.

  4. You must specify an elimination company in the Elimination Sets window.

Answer: A,B

Question No: 119 – (Topic 2)

ABC.com has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart of accounts (COA) structure. The COA structure also has an Intercompany segment (with Intercompany Qualifier) that uses the same value set as the Company segment. Which three options will best use GL Intercompany functionality, given the multiple sets of books that share a common COA? (Choose three.)

  1. Enable security for the Company segment, and define appropriate security rules, and assign them to the responsibility for each set of books.

  2. Enable the profile option that automatically creates intercompany accounting across sets of books.

  3. Enable the Balance Intercompany Journal option when defining each set of books.

  4. Create a clearing company for each set of books to handle many-to-many intercompany accounting in each set of books.

  5. Enable security for the Company and Intercompany segments, and define appropriate security rules, and assign them to the responsibility for each set of books.

Answer: A,C,D

Question No: 120 – (Topic 2)

Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of accounts. Select three statements that apply to consolidating ledgers with different charts of accounts. (Choose three.)

  1. Only one action can be defined per parent segment.

  2. Consolidations based on account rules process faster.

  3. Consolidations based on segment rules process faster.

  4. Segment rules override account rules if there is any conflict.

  5. A segment rule action must be defined for each segment in the parent chart of accounts.

Answer: A,C,E

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