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Oracle EBS R12.1 General Ledger Essentials

Question No: 271 – (Topic 3)

Oracle Payments is the central payment engine for Oracle E-Business Suite Release 12. Identify three modules that integrate with Oracle Payments. (Choose three.)

  1. Assets

  2. Payables

  3. Receivables

  4. Cash Management

  5. Order Management

Answer: B,C,D

Question No: 272 – (Topic 3)

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.)

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

  2. The primary ledger must contain only management adjustments.

  3. The secondary ledger represents the complete management picture.

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

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

Answer: D,E

Question No: 273 – (Topic 3)

Which three are true regarding purchase order-matched invoices? (Choose three.)

  1. You can set up controls in your system to require you to purchase order-match each invoice.

  2. You can set up controls in your system to require you to invoice-match credit /debit memos that have been matched to a purchase order.

  3. You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.

  4. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt.

  5. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.

Answer: A,C,E

Question No: 274 – (Topic 3)

A client has a requirement for their Payables application:

  1. AP must automatically create balancing accounting entries for invoice and payment transactions by using the expense GL Account.

  2. Stop the application of a prepayment amount to an invoice or expense report amount that is charged to a different balancing segment.

Which two steps would satisfy both these requirements? (Choose two.)

  1. Set the Automatic Offset Method to Accrual.

  2. Set the Automatic Offset Method to Account.

  3. Set the Automatic Offset Method to Balancing.

  4. Enable the Prevent Prepayment Application Across Offset Segments option.

  5. Enable the Prevent Prepayment Application Across Account Segments option.

  6. Enable the Prevent Prepayment Application Across Balancing Segments option.

Answer: B,F

Question No: 275 – (Topic 3)

How do you know funds are available in the budgetary control summary account template?

  1. when the result is less than one, regardless of the balance type

  2. when the result is greater than one, regardless of the balance type

  3. when the debit balance type has a positive amount, and the credit balance type has a negative balance

  4. when the debit balance type has a negative amount, and the credit balance type has a positive amount

Answer: C

Question No: 276 – (Topic 3)

When structuring the summary accounts hierarchy, what fact must you take into consideration?

  1. Grandparenting is not allowed (parents cannot become children).

  2. You must include every parent value that is defined in the chart of accounts to a rollup group.

  3. General Ledger will not automatically maintain rollup relationships from the summary

    level to the lowest detail level.

  4. You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.

Answer: D

Question No: 277 – (Topic 3)

You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid. Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.

  1. Enter Payments

  2. Invoice Overview

  3. Invoice Distributions

  4. Scheduled Payments

Answer: D

Question No: 278 – (Topic 3)

Select two statements that are true about ledgers in Oracle General Ledger. (Choose two.)

  1. Each accounting setup requires a primary ledger.

  2. Each accounting setup requires a primary ledger and a reporting ledger.

  3. Each accounting setup requires a primary ledger and an adjustment-only secondary ledger.

  4. Each accounting setup optionally requires one or more secondary ledgers and reporting currencies.

Answer: A,D

Question No: 279 – (Topic 3)

You are on a phased-approach implementation. Payables and Purchasing are being implemented in Phase One, and Assets in Phase Two. Identify three choices in the process for the best way to discuss supplier naming conventions and supplier site naming conventions. (Choose three.)

  1. Agree upon naming conventions.

  2. Gather only the Payables and Purchasing personnel.

  3. Document conventions and obtain the sign-off by authorized approvers later.

  4. Document conventions and obtain the sign-off by authorized approvers immediately.

  5. Gather all interested parties for requirements-including Assets, Payables and Purchasing.

Answer: A,D,E

Question No: 280 – (Topic 3)

A client is implementing ACH and has a business requirement that all invoices go through an approval process flow. Identify three features of the Invoice Approval Workflow that would meet their requirement. (Choose three.)

  1. allows automatic resubmission of an invoice if rejection occurs

  2. has predefined criteria to identify which invoices require approval

  3. allows approval routing management from one central responsibility

  4. provides automatic routing of invoices upon approval to another designated approver

  5. allows for corrections to invoices to be made while still in the approval routing process

  6. provides time limits as to how long an invoice can remain unapproved before being automatically rerouted to the next approver

Answer: B,D,F

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