Ucertify offers free demo for 1Z0-516 exam. "Oracle EBS R12.1 General Ledger Essentials", also known as 1Z0-516 exam, is a Oracle Certification. This set of posts, Passing the Oracle 1Z0-516 exam, will help you answer those questions. The 1Z0-516 Questions & Answers covers all the knowledge points of the real exam. 100% real Oracle 1Z0-516 exams and revised by experts!


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Q311. Identify two functions the Revenue Accounting Management (RAM) Wizard performs in Oracle Receivables. (Choose two.) 

A. Apply receipts 

B. Resolve claims 

C. Adjust sales credits 

D. Execute the invoicing process 

E. Manage revenue contingrncies 

Answer: CE


Q312. ABC.com is implementing Oracle E-Business Suite 11.5.10. It wants to use a global chart of accounts. It has business operations in Canada, the United States, France, and Spain. You are told that both France and Spain require Document Sequencing whereas Canada and the United States do not. There are three legal entities in Canada, four in the United States, two in France, and two in Spain. All legal entities have the same fiscal year end. Advise the DBI Enterprise corporate controller what is feasible, in order to set up the minimum number of set of books, without customization. 

A. 1 set of books for Canada, 1 for the U.S. and 1 for France and 2 for Spain. Install and set up Global Accounting Engine for France and Spain sets of books. 

B. 1 set of books for Canada, 1 for the U.S. and 2 for France and 1 for Spain. Enable Document Sequencing for France and Spain sets of books. 

C. 1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books. 

D. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Enable Document Sequencing for Europe set of books only. 

E. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Install and set up Global Accounting Engine for Europe. 

Answer: C


Q313. Application Security consists of User, Responsibility, and Self-Service Application Security. Select three authorizations to which a responsibility allows access. (Choose three.) 

A. Ledger 

B. Legal Entity 

C. Business Groups 

D. A specific application or applications 

E. A restricted list of windows, functions, and reports 

Answer: ADE


Q314. Select two restrictions that apply to consolidating budget balances. (Choose two.) 

A. If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period. 

B. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period. 

C. If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period. 

D. If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period. 

E. If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period. 

Answer: DE


Q315. You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the U.S. but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. The company's management in the U.S. wants to see all the transactions in U.S. dollars, whereas the management in Europe wants to see the transactions in euros. The CFO has stated this requirement: While entering the daily transactions the user should have the ability to enter the current exchange rate, but at month end the assets and liabilities in euros could be converted into U.S. dollars at the monthly average exchange rate. Can this requirement be satisfied? 

A. Account generator needs to be customized to satisfy this requirement. 

B. Oracle GL does not support this functionality. 

C. Oracle GL provides this functionality and there is no problem in satisfying the requirement. 

D. Workflow needs to be customized to satisfy this requirement. 

Answer: C


Q316. While defining customers and suppliers, what is the level of information that is stored for global registries? 

A. Header-level information in partitioned tables 

B. Header-level information in an unpartitioned table for all entities within an instance 

C. Header-level information in partitioned tables with Taxpayer ID, Federal reportable, and State reportable options 

D. Header-level information in an unpartitioned table with Taxpayer ID, Federal reportable, and State reportable options 

Answer: B


Q317. The clients GL accountant ABC.com comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve Button is grayed out in the Enter Journals form, and the supervisor has not received a notification requesting the approval. What do you suggest as the possible cause for this problem? 

A. Budgetary control has been enabled for the set of books, and funds have not been reserved for the journal. 

B. Authorization limits have not been defined properly and the GL Period is closed. 

C. The Profile option Allow Preparer Approval needs to be reset. 

D. One of the GL account code combinations in the journal is invalid. 

Answer: A


Q318. To review available Financial Statement Generator elements, which two reports would be helpful? (Choose two.) 

A. Content Set Detail listing, Chart of Accounts - Rollup Detail Listing 

B. Content Set Detail Listing, Report Set Detail Listing 

C. Column Set Summary Listing, Row Set Detail Listing 

D. Column Set Detail Listing, Report Detail Listing 

Answer: C


Q319. 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.) 

A. You can print invoices by batch. 

B. Batching provides default values for invoice fields. 

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

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

Answer: AB


Q320. ABC.com wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.) 

A. Trial Balance 

B. Account Analysis 

C. On-line Account Inquiry 

D. On-line Budget Inquiry 

E. Financial Statement Generator 

Answer: CE