Examcollection 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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Q191. Select three statements that apply to Interface Data Transformer (IDT). (Choose three.) 

A. It ensures reapplication of the same rules each time you transfer. 

B. IDT provides greater flexibility by performing no validation on the imported data. 

C. User-defined conditions enable you to control when transformation rules must be applied. 

D. IDT provides automatic data conversion that converts disparate data formats into an Oracle format. 

E. It makes exporting of data from Oracle General Ledger into external feeder systems much easier and less time consuming. 

Answer: ACD

Q192. Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.) 

A. Define accounts for realized gains and realized losses. 

B. Define accounts for unrealized gains and unrealized losses. 

C. Define the weights for each currency used for doing transactions. 

D. Define a batch under which the revaluation journals would be stored. 

E. Define a revaluation rate for each currency for each period or date for which the revaluation must be run. 

Answer: BE

Q193. You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger that reflects XYZ Company's business. Select four data elements that you would need to obtain from XYZ Company to create a ledger for your demo. (Choose four.) 

A. the suspense account 

B. the intercompany account 

C. the retained earnings account 

D. the number of accounting periods 

E. the base (functional) currency of the company 

F. the accounting calendar with periods and the fiscal year-end 

G. the company organization structure for the chart of accounts 

Answer: CEFG

Q194. Identify four steps involved in the setup for late charges. (Choose four.) 

A. Assigning different policies to your customers 

B. Indicating by transaction type if a late charge policy is enforced 

C. Enabling late charges in the Receivables System Options form 

D. Enabling late charges in the System Profiles form at the user level 

E. Deriving accounting from transaction type when late charges are in adjustment format 

F. Indicating if a specific invoice should be exempt from late charges at the transaction level 

Answer: ABCF

Q195. ABC.com would like a consolidation process to consolidate operations in the UK and US. ABC.com requires a summary of transactions from both companies. Company 01 is located in Chicago; Company 02 is located in London. Both companies share only the same calendar. Which actions should be considered when defining the consolidation process for ABC.com? (Choose all that apply.) 

A. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02. 

B. Select the transaction method for transferring data from Company 01 to Company 90. 

C. Define an elimination set to include a group of related elimination entries. 

D. Define mapping rules to map Company 01 and Company 02 to Company 90. 

Answer: ACD

Q196. Your client will use the seeded credit classifications of Low Risk, Moderate Risk, and High Risk to evaluate the credit worthiness of customers. It has also created the following credit review types: 

New Credit Limit 

Domestic Credit 

International Credit 

Guarantor of Credit 

Lease Application Credit 

How many credit checklists should the management set up in Oracle Credit Management to perform credit reviews in accordance with the organization's current policies? 

A. Ten 

B. Five 

C. One 

D. Eight 

E. Three 

F. Fifteen 

Answer: F

Q197. You can define a credit hierarchy of parties and party relationships to consolidate and display all credit data for the entire hierarchy in Credit Management. Which profile option should be set to enable this functionality? 

A. HZ: Allow Hierarchy Copy 

B. AR: Credit Hierarchy Type 

C. OSC: Reporting Hierarchy 

D. HR: BIS Reporting Hierarchy 

E. Exchange Protocol: Allow Hierarchy 

Answer: B

Q198. You are working on an implementation of Oracle Daily Business Intelligence Release 12 at ABC Corp. Your client has three requirements: 

1. Ability to export to Excel or PDF daily intelligence data 

2. Ability to delegate roles to subordinates 

3. Ability to summarize data using flexible time periods 

Select the Daily Business Intelligence product that you would recommend to your client. 

A. Oracle Fusion Intelligence 

B. Oracle Financials Intelligence 

C. Oracle Purchasing Intelligence 

D. Oracle Interaction Center Intelligence 

E. Oracle Human Resources Intelligence 

Answer: A

Q199. Which module of Oracle E-Business Suite Release 12 sends revaluation and accrual entries to General Ledger? 

A. Oracle Assets 

B. Oracle Projects 

C. Oracle Treasury 

D. Oracle Receivables 

E. Oracle Property Manager 

Answer: C

Q200. Jack is hired as an Oracle General Ledger implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.) 

A. key flexfields 

B. Journal Sources form 

C. Journal Categories form 

D. Journal Encumbrance Types form 

E. Journal approval on the Ledger Setup page 

Answer: BE