2018 Jan Oracle Official New Released 1z0-516
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Oracle EBS R12.1 General Ledger Essentials

Question No: 121 – (Topic 2)

ABC.com runs the Program-Create Journals, after which the Create Journal Entries Execution Report is automatically created. Identify three components that the report Create Journal Entries Execution Report reports on. (Choose three.)

  1. Budget Journals

  2. Purchasing Encumbrance Entries

  3. Payables Encumbrance Entries

  4. Journal Posting Report

Answer: A,B,C

Question No: 122 – (Topic 2)

The controller has asked you to produce a report that identifies the total outstanding receivable by customer, as of the period-ending date. Which report would fulfill this request?

  1. Journal Entry Report

  2. Receipts Journal

  3. Applied Receipt Register

  4. Aging Report

  5. Account Analysis by Subsidiary Ledger

  6. Transaction Register

  7. Sales Journal by General Ledger Account

Answer: D

Question No: 123 – (Topic 2)

ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of primary ledgers that are required to be defined.

  1. five

  2. four

  3. two

  4. one

  5. three

Answer: A

Question No: 124 – (Topic 2)

Which four statements are true about the Global Intercompany System AutoAccounting Rules? (Choose four.)

  1. Sender Clearing Rules automatically generate the sender clearing transaction line.

  2. Sender Distribution Rules automatically generate the sender transaction distribution line(s).

  3. You can use only one set of Autoaccounting rules per pair of sender/receiver chart of accounts.

  4. Receiver Clearing Rules automatically generate the receiver clearing transaction line.

  5. Receiver Distribution Rules automatically generate the receiver transaction distribution line(s).

Answer: A,C,D,E

Question No: 125 – (Topic 2)

Which four attributes are validated during the Journal Import process? (Choose four.)

  1. period

  2. approval level

  3. balanced journal

  4. cross-validation rule

  5. account combination

  6. journal sequence number

Answer: A,C,D,E

Question No: 126 – (Topic 2)

After running the Payables Accounting Process and posting the Journal Import, the accountant determines that several invoices have not been transferred to the General Ledger. Which three can cause an invoice to not be transferred to the General Ledger? (Choose three.)

  1. Invoice is future-dated.

  2. Invoice is voided in the prior period.

  3. Invoice is on hold.

  4. Invoice is unvalidated.

  5. Invoice is unaccounted.

Answer: C,D,E

Question No: 127 – (Topic 2)

For each subledger there should be one .

  1. Journal Type

  2. Journal Source

  3. Journal Category

  4. Account Type

Answer: B

Question No: 128 – (Topic 2)

Which statement is correct about the differences between the functionalities of parent accounts and summary accounts?

  1. Summary accounts slow down the generation of Financial Statement Generators, whereas parent accounts will help generate quicker results.

  2. Summary accounts use the summing segment type for mass allocations, whereas parent accounts use the looping segment type.

  3. Summary accounts cannot be used in budget formulas, whereas parent accounts can be used in budget formulas.

  4. Summary accounts speed up the posting process, whereas parent accounts require additional time for the posting process.

  5. Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form.

Answer: E

Question No: 129 – (Topic 2)

Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?

  1. Natural accounts were defined as parent values.

  2. Natural accounts were defined to not allow posting.

  3. Natural accounts were defined with an incorrect account type.

  4. Natural accounts were defined to store both statistical and monetary values.

Answer: C

Question No: 130 – (Topic 2)

Identify three ways that an invoice can be submitted for validation. (Choose three.)

  1. online by clicking the Validate button in the Invoice Batches window

  2. online by clicking the Validate and Account button in the Invoice Batches window

  3. in batch by submitting the Payables Invoice Validation program from the Invoice Workbench

  4. in batch by submitting the Payables Invoice Validation program from the Submit Request window

  5. online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window

Answer: A,D,E

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