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2016 Jul 1Z0-516 test

Q341. Identify the sequence of the steps that are required for performing the accounting setup from this list. 

1. Define accounting options. 

2. Define primary ledger. 

3. Define legal entities. 

4. Assign legal entities to accounting setup. 

5. Complete accounting setup. 

6. Define secondary ledgers. 

A. 1, 2, 3, 4, 5, 6 

B. 3, 4, 2, 6, 1, 5 

C. 3, 4, 2, 6, 5, 1 

D. 1, 3, 2, 4, 5, 6 

Answer: B


Q342. To define the primary ledger, which account is always required? 

A. Suspense account 

B. Retained earnings account 

C. Realized profit/loss account 

D. Unrealized profit/loss account 

E. Reserve for encumbrance account 

F. Entered currency balancing account 

Answer: B


Q343. ABC Corp. has a requirement to share business documents from its Oracle E-Business Suite Release12 (EBS) instance with external business-to-business (B2B) exchange partners. Select the best method that you would recommend to meet this requirement. 

A. Build a workflow process and integrate it with external B2B exchange. 

B. Use notification mailer to share the documents with external B2B exchange. 

C. Use Oracle Applications Framework to integrate with external B2B exchange. 

D. Use the Advanced Workflow Mailer functionality in Oracle E-Business Suite Release 12. 

E. Build a workflow process and use Business Event System to integrate it with an external B2B exchange partner. 

Answer: E 


Q344. The Quick Payment method is best described as the method of _____. 

A. creating a payment without an invoice 

B. manually writing a check outside of Payables 

C. recording a payment made outside of Payables 

D. creating and printing a computer-generated payment to pay a supplier for one or more invoices 

Answer: D


Q345. For any scoring model, you can define a set of automation rules to guide the implementation of credit decisions without user intervention. Under what situation are automation rules preferred? 

A. When credit risk defined by an enterprise's policies is high 

B. When credit risk defined by an enterprise's policies is minimal 

C. When credit risk defined by an enterprise's policies is unrated 

D. When credit risk defined by an enterprise's policies is moderate 

Answer: B


1Z0-516  answers

Leading 1Z0-516 free practice exam:

Q346. Which three activities would use summary accounts? (Choose three.) 

A. Formulate a budget for employee benefits in each company based on the total of all budgeted employee salaries. 

B. Estimate a sales commission accrual based on the total of all product sales for each division. 

C. Create a monthly recurring standard journal entry to amortize Goodwill. 

D. Allocate the total monthly costs of the Information Services department to other departments. 

Answer: ABD


Q347. Which three are true regarding purchase order-matched invoices? (Choose three.) 

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

B. 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. 

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

D. 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. 

E. 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: ACE


Q348. Select four values that default from profile classes in Oracle Accounts Receivable. (Choose four.) 

A. Currency 

B. Legal entity 

C. Payment terms 

D. Statement cycle 

E. Business purpose 

F. Credit classification 

Answer: ACDF


Q349. ABC Corp. is installing Oracle E-Business Suite Release 12 Applications on two nodes: A and B. On Node A, it has installed the Form server, the Web server, and the Administration server. On Node B, it has installed the Concurrent Processing server. By default, on which node would the Reports server be installed? 

A. Node A 

B. Node B 

C. Neither of the nodes 

D. Both Node A and Node B 

Answer: B


Q350. You are involved in a project to upgrade to Oracle E-Business Suite, Release 12. You need more information about the upgrade processes and paths. Where would you find the upgrade guide for Oracle E-Business Suite? 

A. AppsNet 

B. Bug Database 

C. Technical Forums 

D. MetaLink Knowledge Base 

E. Oracle Technology Network 

F. Customer Knowledge Exchange 

Answer: D