[Free] 2018(Jan) EnsurePass Examcollection Oracle 1z0-516 Dumps with VCE and PDF 321-330

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Oracle EBS R12.1 General Ledger Essentials

Question No: 321 – (Topic 4)

If you use the Expense Report Export program, it converts expense reports created in these applications into Payables invoices. Identify the two applications. (Choose two.)

  1. Oracle Aria

  2. Oracle Travel

  3. Oracle Projects

  4. Oracle Payables

  5. Oracle General Ledger

  6. Oracle Internet Expenses

Answer: D,F

Question No: 322 – (Topic 4)

Identify three functions that the Create Accounting program provides. (Choose three.)

  1. validates and creates subledger journal entries

  2. generates the Posted Journal Report for subledger journal entries

  3. transfers final journal entries in the current batch run to General Ledger

  4. applies the application accounting definitions that are created in Accounting Builder (ABM)

  5. allows you to update final journal entries before the Transfer to General Ledger process is run

  6. generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program

Answer: A,C,F

Question No: 323 – (Topic 4)

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

  1. after the payment process

  2. before the payment process

  3. after the Invoice Validation process

  4. before the Invoice Validation process

  5. before the transfer information to GL process

Answer: A,B,C,E

Question No: 324 – (Topic 4)

Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process?

  1. Invoice Register

  2. Create Accounting

  3. Invoice Audit Listing

  4. Payables Posted Payment Register

Answer: B

Question No: 325 – (Topic 4)

XYZ Corporation uses Fixed Assets to manage their Asset transactions such as capitalizing, depreciating, adjusting, and retiring. After assets are purchased and the invoice is entered and accounted for, the company runs the Mass Additions Create process to send assets to Fixed Assets. When the purchase order is written, which account must be specified on the purchase order distribution for the charge account?

  1. the material account associated with the inventory organization

  2. the AP trade liability account associated with the operating unit

  3. the asset cost account associated with an asset category in Assets

  4. the asset clearing account associated with an asset category in Assets

Answer: D

Question No: 326 – (Topic 4)

Identify the four reports you must run when reconciling invoices and payments to the Accounts Payable Trial Balance Report. (Choose four.)

  1. Void Check Register

  2. Posted Invoices Report

  3. Posted Payments Report

  4. Accounts Payable Trial Balance – prior period

  5. Payables Transfer to General Ledger Reports

  6. Accounts Payable Trial Balance – current period

  7. Account Analysis – (132 Char) / Account Analysis – (180 Char).

Answer: B,C,D,F

Question No: 327 – (Topic 4)

At your client site, the Payables period-close processes have been performed. The Payables transfer to GL has been completed, and the resulting journal entries have been posted to GL. The current Payables period has been closed. The Accounts Payable Trial Balance (last day of prior period) Posted Invoices – Posted Payments equals the Accounts Payable Trial Balance (last day of current period).

However, the balance in the AP liability account in GL for the current period does not equal the Accounts Payable Trial Balance (last day of the current period). What is the possible reason?

  1. Inventory has not closed for the current period.

  2. Purchasing has not closed for the current period.

  3. Period-end accrual journals have been reversed in GL.

  4. Manual journals have been posted to the AP liability account in the current period in GL.

Answer: D

Question No: 328 – (Topic 4)

You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust .

  1. the number of invoice lines

  2. the total header invoice amount

  3. the amount of another distribution

  4. the self assessed taxes in the Tax Details window

Answer: C

Question No: 329 – (Topic 4)

Which three reports can be used to reconcile Payables activities to General Ledger? (Choose three.)

  1. Supplier Payment Report

  2. Posted Payments Report

  3. Cash Clearing Account Report

  4. Accounts Payable Trial Balance Report

  5. General Ledger Account Analysis Report

Answer: B,D,E

Question No: 330 – (Topic 4)

Identify three statements that are true for the automatic withholding tax process. (Choose three.)

  1. Withholding tax type distributions are negative amounts.

  2. The Withholding tax group can be assigned only to an invoice distribution.

  3. Using automatic withholding tax, Payables creates the correct withholding tax distributions.

  4. Withholding tax distributions are automatically created during invoice validation or during payment processing.

  5. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.

Answer: C,D,E

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