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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2016 Apr 1Z0-517 Study Guide Questions:
Q21. Treeline Company is getting ready to complete its month-end process. It needs to create a profitand- loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.)
A. row set
B. report set
D. column set
E. content set
Q22. ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the quarter's final calendar month.Select the remaining setup for the calendar to meet the requirement.
A. defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month; defining an adjusting period on the last day of each quarter
B. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining four adjusting periods for March 31 of the fiscal year
C. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining an adjusting period on the last Friday of each quarter
D. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter
Q23. Identify three statements that are true for supplier's bank details. (Choose three.)
A. Suppliers maintain their bank details.
B. Bank details are required only for manual check payments.
C. Bank accounts can be added at any time for a supplier or supplier site.
D. Payables uses bank account information to generate an electronic payment for a supplier.
E. Updating bank accounts for a supplier will not affect bank accounts for existing supplier sites.
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Q24. Which two statements correctly describe the translation process? (Choose two.)
A. You can rerun the translation process more than once per period.
B. With the translation process, you can translate only year-to-date amounts.
C. If you rerun the translation process, it adds more data to the previous translated amounts.
D. Translation for a subsidiary can be initiated from the parent by clicking the state controller translate button.
Q25. Peter, the GL accountant, tells you that he has defined the budget and that the budget amounts have been entered and approved by management. After approval, he wants his assistant accountants to NOT be able to update this budget. What would be your response?
A. The budget status must be current.
B. Set the budget status to frozen to meet this need.
C. The Oracle General Ledger budget functionality cannot satisfy this requirement.
D. If the client wants to do this, customization of Oracle Workflow is the only option.
Q26. XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant. Select three steps that are required for creating a new accounting structure. (Choose three.)
A. Define jurisdictions.
B. Define period types.
C. Assign legal entities.
D. Save the accounting structure.
E. Define accounting representations.
F. Define subledger accounting methods.
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Q27. Where does the expense AP accrual account used in the Period End Accrual process default from?
A. Financial Options
B. Payables Options
C. Receiving Options
D. Purchasing Options
Q28. When structuring the summary accounts hierarchy, what fact must you take into consideration?
A. Grandparenting is not allowed (parents cannot become children).
B. You must include every parent value that is defined in the chart of accounts to a rollup group.
C. General Ledger will not automatically maintain rollup relationships from the summary level to the lowest detail level.
D. You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.
Q29. Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)
A. Withholding distributions for a paid invoice can be reversed.
B. If an invoice is paid or partially paid, withholding distribution cannot be reversed.
C. Payables uses the supplier number as an invoice number for the tax authority's invoice.
D. Withholding tax distributions are automatically created during invoice validation or payment processing.
E. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.
Q30. Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)
B. operating units
C. data access sets
D. definition access sets
E. subledger accounting method