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Oracle EBS R12.1 General Ledger Essentials

Question No: 361 – (Topic 4)

You have received an invoice that requires an immediate payment. The next scheduled check run is not until the end of the week. Which two methods may you use to create the payment? (Choose two.)

  1. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a quick payment.

  2. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a manual payment.

  3. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and create a quick payment.

  4. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and creates a manual payment.

Answer: A,C

Question No: 362 – (Topic 4)

Identify three purposes for which transaction types can be used. (Choose three.)

  1. To record how cash can be applied to transactions

  2. To set whether AutoInvoice validates transactions using IDs or values

  3. To set whether transactions affect the Accounts Receivable (AR) customer balances

  4. To record the accounting flexfield value that would be used for the cash account for

    transactions

  5. To record the accounting flexfield value that would be used for the receivable account for transactions

  6. To set transaction numbers to be either assigned automatically or entered manually for transactions

Answer: A,C,E

Question No: 363 – (Topic 4)

Payment process request templates are created on the Templates tabbed page of the Payments Manager to simplify pay run processing. All statements in the list below represent steps to create a payment process request template. Which one is the first step?

  1. Specify payment attributes.

  2. Specify template header information.

  3. Specify the degree of pay run automation.

  4. Specify invoice payment selection criteria.

  5. Specify how the system handles validation failure on the document and payment levels.

Answer: B

Question No: 364 – (Topic 4)

Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.)

  1. The Withholding Tax Report is prepared by suppliers.

  2. The Withholding Tax Group defaults in from the supplier or supplier site.

  3. There can be multiple withholding tax codes with multiple tax authorities assigned to a group.

  4. You can set up a special calendar to define periods that Payables uses for automatic withholding tax.

  5. The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with.

Answer: B,C,D

Question No: 365 – (Topic 4)

The end users at Lucy Ltd. noticed several AutoInvoice exceptions and requested your help in correcting them. Which window allows you to edit data?

  1. Line Errors window

  2. Interface Lines window

  3. Interface Exceptions window

  4. Interface Corrections window

Answer: B

Question No: 366 – (Topic 4)

Identify three statements that are true for E-Business Tax. (Choose three.)

  1. E-Business Tax transactions are strictly controlled and cannot be changed.

  2. E-Business Tax provides seeded tax registration types for local organizations.

  3. E-Business Tax provides a single point solution for managing your transaction-based tax requirements.

  4. E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation.

  5. E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface.

Answer: C,D,E

Question No: 367 – (Topic 4)

Identify three key accounts to be considered during the implementation of Payables that impacts the reconciliation of the accounts payable liability accounts. (Choose three.)

  1. AP liability account

  2. accrual charge account

  3. receiving accrual account

  4. accrued Payables account

  5. receiving inventory account

  6. expense AP accrual account

  7. inventory AP accrual account

Answer: A,F,G

Question No: 368 – (Topic 4)

Identify the default value for the term date that would extend the time to pay an invoice, if the payment term is net 30 days.

  1. invoice date

  2. system date

  3. invoice entered date

  4. goods received date

  5. invoice received date

Answer: B

Question No: 369 – (Topic 4)

Identify the statement that reflects the functionality of the Create Accounting Process.

  1. The Create Accounting Process creates subledger accounting entries.

  2. You can use the Create Accounting Process to create subledger accounting entries and validate the invoices.

  3. The Create Accounting Process is used to create subledger accounting entries and transfer the transactions to General Ledger.

  4. The Create Accounting Process is used to create subledger accounting entries, and transfer and post the transactions to General Ledger.

Answer: A

Question No: 370 – (Topic 4)

Select three processes that must be performed before closing the purchasing period. (Choose three.)

  1. Process period-end receipt accruals.

  2. Run the Purchasing Account Analysis Report.

  3. Process the remaining inventory transactions.

  4. Run and review the Uninvoiced Receipts Report.

  5. Run Transfer Journal Entries to the GL program from Receiving.

Answer: A,D,E

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