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2016 Jul 1Z0-517 braindumps

Q141. You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes. They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements. Choose two statements that are true in the given scenario. (Choose two.)

A. The secondary ledger contains day-to-day transactions.

B. The primary ledger must contain only management adjustments.

C. The secondary ledger represents the complete management picture.

D. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.

E. Use ledger sets to combine primary and secondary ledgers to get the complete management picture.

Answer: DE


Q142. XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments. All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained. Identify the number of legal entities to be created and the number of accounting setups.

A. Create one legal entity and four accounting setups.

B. Create four legal entities and one accounting setup.

C. Create two legal entities and four accounting setups.

D. Create four legal entities and four accounting setups.

Answer: D


Q143. Company XYZ has received an invoice that includes freight charges. They want to distribute the freight charges proportionately to the same accounts that were charged for the items. Identify the steps they need to follow to create the freight distributions.

A. Manually enter freight-type distributions for each account that was charged.

B. Enable Automatically Create Freight Distribution in the invoice region in the Payables Options window.

C. Create a freight distribution by selecting the Create Freight Distribution check box in the Invoices window.

D. In the Distributions window, click the Allocate button, identify the distribution type as Freight, select Prorate, and select the distributions to which freight charges would be allocated.

Answer: D


Q144. Identify three statements that are true for electronic or wire payment. (Choose three.)

A. A wire payment validates the supplier's bank details.

B. More bank accounts for a supplier or supplier site can be added.

C. Supplier banks must be assigned to the supplier for electronic payment.

D. Payables does not require supplier bank account information for a wire payment.

E. Electronic payment instructs the bank to make payment to a supplier bank account.

Answer: CDE


Q145. What are three prerequisites for interfacing payables invoice lines with Assets? (Choose three.)

A. There are no holds placed on the invoice

B. The invoice must be posted to General Ledger

C. The option ‘Track as Asset’ is selected in the Distributions from when entering an invoice

D. The invoice has been transferred to General Ledger

E. Distribution Account is Asset Clearing or CIP Account

Answer: CDE


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Up to date 1Z0-517 exam answers:

Q146. 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


Q147. Select three statements that apply to the Global Consolidation System (GCS). (Choose three.)

A. It consolidates data from the legacy feeder system.

B. This system creates consolidated journal entries in both the parent and subsidiary sets of books.

C. GCS automatically generates journal entries to eliminate intercompany balances based on defined rules.

D. It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise Planning and Budgeting.

Answer: ACD


Q148. Using the Payables System Setup Options form, you can enable autonumbering for _____.

A. invoices

B. suppliers

C. payments

D. employees

E. expense reports

Answer: B


Q149. ABC Corporation has closed their APR-XX accounting period. The APR-XX period started on 27- MAR-20XX and ended on 26-APR-20XX. To ensure that all accounting from APR-XX has been sent to General Ledger, they must run two Trial Balance Reports, the Posted Invoice Register, and the Posted Payment Register. What dates must be used to run Accounts Payable Trial Balance Reports?

A. one run for 26-MAR-20XX and one for 26-APR-20XX

B. one run for 01-APR-20XX and one for 30-APR-20XX

C. one run for 27-MAR-20XX and one for 26-APR-20XX

D. one run for 31-MAR-20XX and one for 30-APR-20XX

Answer: A


Q150. Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)

A. Both budget and actual balances can be consolidated.

B. Consolidation is possible only when the subsidiaries use multiple Oracle application instances.

C. You can consolidate balances only when there are separate ledgers for different companies.

D. You can maintain multiple companies with similar or different accounting structures and consolidate their results for meaningful financial reporting.

Answer: AD