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Oracle EBS R12.1 General Ledger Essentials

Question No: 501 – (Topic 6)

Which relationship group would you assign to allow each party to pay for its own transactions, as well as the transactions of all parties that are lower in the hierarchy (children, grandchildren, and so on)?

  1. Pay group

  2. Pay below

  3. Pay without

  4. Pay parties

Answer: B

Question No: 502 – (Topic 6)

Your client has requested that you set up a relationship type that would allow any party within the relationship to pay for the accounts of any other party. Identify the relationship group that you would assign your relationship type to, in order to accomplish this.

  1. Pay all

  2. Pay within

  3. Pay below

  4. Pay parties

Answer: B

Question No: 503 – (Topic 6)

ABC Enterprise closes its books on March 31st. These activities have been identified to be performed for the closure of books.

  1. post

  2. translate

  3. review

  4. consolidate

  5. revalue

  6. run accounting reports

  7. close accounting period

In which order must these activities be performed?

A. 1, 3, 5, 2, 4, 6, 7

B. 5, 2, 3, 1, 7, 4, 6

C. 1, 5, 2, 3, 4, 7, 6

D. 1, 3, 2, 5, 7, 4, 6

Answer: A

Question No: 504 – (Topic 6)

Tina is entering a receipt and she determines that a short payment on a customer#39;s invoice should be considered an invoice deduction. Tina applies the cash to the customer#39;s open invoice, thereby triggering receivables to create a claim in Trade Management. After Tina saves her work, Receivables .

  1. Partially applies balance to customer invoice and places the full invoice amount in dispute

  2. Fully applies customer invoice, thereby creating a chargeback for the remaining invoice Balance

  3. Fully applies customer invoice, thereby creating a debit memo for the remaining invoice balance

  4. Partially applies balance to customer invoice and places the remaining invoice balance in dispute

Answer: D

Question No: 505 – (Topic 6)

A debit memo reversal must be utilized to reverse the receipt if .

  1. Receipt is a non-invoice-related receipt

  2. Receipt has an open claim associated with it

  3. Receipt has been reconciled in Cash Management

  4. Receipt has a remitted credit card refund application

Answer: D

Question No: 506 – (Topic 6)

Identify three setups in Oracle Receivables that control how discounts are calculated. (Choose three.)

  1. Profile options

  2. Payment terms

  3. System options

  4. Receipt classes

  5. Customer profiles

Answer: B,C,E

Question No: 507 – (Topic 6)

The data access set with the full ledger access set type defines three ledgers/ledger sets:

Full ledger access set type Ledger/ledger set Sets privileges Vision Services read and write Vision Operations read-only

Vision Global read-only Which statement is correct?

  1. Users can only view existing data for the Vision Operations ledger.

  2. Users have full read and write access to the Vision Operations ledger.

  3. Responsibilities that use this data access set can only view existing data for the Vision Services ledger.

  4. Responsibilities that use this data access set have full read and write access to the Vision Global ledger.

Answer: A

Question No: 508 – (Topic 6)

Your client has set up Oracle Lease Management (OKL) and Oracle Credit Management (OCM) without scoring models. Which three tasks can be successfully completed by Oracle Workflow in OCM without manual intervention? (Choose three.)

  1. Creating a case folder

  2. Calculating a credit score

  3. Creating a credit application

  4. Creating a final credit recommendation

  5. Sending notifications to the credit scheduler

    Answer: A,C,E

    Question No: 509 – (Topic 6)

    Choose the correct sequence of events taking place in the data access set setup process.

    1. Define a legal entity.

    2. Define ledger sets.

    3. Define data access sets.

    4. Define a secondary ledger.

    5. Define a primary ledger.

    6. Assign a data access set to responsibilities.

    7. Define operating units.

      A. 1, 7, 5, 4, 2, 3, 6

      B. 1, 2, 3, 4, 5, 6, 7

      C. 1, 7, 4, 5, 3, 2, 6

      D. 1, 7, 3, 2, 5, 4, 6

      Answer: A

      Question No: 510 – (Topic 6)

      Invoice batching provides checks and balances that are not available in a single invoice. Choose two reasons why you might want to enter invoices in batches. (Choose two.)

      1. You can print invoices by batch.

      2. Batching provides default values for invoice fields.

      3. You can post invoices to General Ledger by batch.

      4. You can apply cash receipts directly to a batch of invoices.

Answer: A,B

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