Exam Code: 1Z0-517 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 Payables Essentials
Certification Provider: Oracle
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2021 May 1Z0-517 Study Guide Questions:
Q71. John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee (INR) only. Sam, the company accountant, is worried that he would not be able to execute transactions involving USD and INR currencies. What does John say to help Sam?
A. Currency Rates Manager automatically converts all transactions entered in INR to USD.
B. Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD.
C. Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules.
D. Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.
E. Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency.
Answer: C
Q72. You are implementing Oracle General Ledger (GL) at a client site. The client is based in the US, but they have a presence in many countries and transactions in multiple currencies. The implementation team decides that the GL multi-currency setup will be a part of the implementation.
John, a junior consultant helping you in the implementation effort, tells you that he is testing the system and entering journals in USD, Yen, and Euros. He says that he is able to enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you provide to John for this?
A. Yen has not been enabled.
B. Rate types have not been defined for Yen.
C. Daily rates have not been entered for Yen.
D. Workflow must be customized for journals to be entered in Yen.
Answer: A
Q73. Select two statements that are correct for the secondary tracking segment. (Choose two.)
A. Only the natural account segment or the balancing segment can be specified as the secondary tracking segment.
B. Any segment that is specified as the secondary tracking segment also must be specified as the management segment.
C. Any segment, except the natural account segment or the balancing segment, can be specified as the secondary tracking segment.
D. This segment will be paired with the balancing segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account.
E. This segment will be paired with the natural account segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account.
Answer: CD
Leading 1Z0-517 real exam:
Q74. What is a benefit of the secondary tracking segment?
A. Additional security ensures that correct accounts are selected while entering transactions.
B. The Management segment is enabled automatically when the secondary segment is defined.
C. More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts.
Answer: C
Q75. Company A has implemented Oracle Payables and Oracle General Ledger. It has a third-party (non-Oracle) application that it uses to enter employee expense reports. The company wants to interface the expense reports created in the third-party application to Oracle Payables as invoices, and pay these invoices out of Oracle Payables. Identify the Oracle Payables interface that accomplishes this.
A. Projects Import Interface
B. Payables Open Interface
C. Credit Card Import Interface
D. Expense Report Import Interface
Answer: B
Q76. Identify three statements that are true about bank and supplier payment. (Choose three.)
A. Primary bank account can be only at the supplier site.
B. Credit and debit memos are examples of payment documents.
C. Supplier's payment requires a bank account with at least one payment document.
D. Use the Banking Details page to create bank accounts for making payments to suppliers.
E. If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank accounts.
Answer: CDE
Vivid 1Z0-517 samples:
Q77. Identify two exceptions that prevent you from closing the period in Payables. (Choose two.)
A. unpaid invoices
B. outstanding pay runs
C. invoices not validated
D. unaccounted invoices
E. unpaid expense reports
Answer: BD
Q78. A reversing journal entry can be posted into _____.
A. a current or any future open period
B. a past closed period and a current open period
C. a current open period and a never-opened period
Answer: A
Q79. ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)
A. XYZ Company is not impacted at all by this rate change.
B. XYZ Company has a positive impact by this rate change.
C. ABC Company is not impacted at all by this rate change.
D. ABC Company has a positive impact by this rate change.
Answer: AD
Q80. Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle EBusiness Suite Release 12 products. Select the Oracle application that is NOT a Subledger Accounting module.
A. Assets
B. Payables
C. Purchasing
D. Receivables
E. General Ledger
Answer: E