Pass4sure offers free demo for 1Z0-517 exam. "Oracle EBS R12.1 Payables Essentials", also known as 1Z0-517 exam, is a Oracle Certification. This set of posts, Passing the Oracle 1Z0-517 exam, will help you answer those questions. The 1Z0-517 Questions & Answers covers all the knowledge points of the real exam. 100% real Oracle 1Z0-517 exams and revised by experts!


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Q171. All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?

A. updating the period

B. posting journal entries

C. consolidating financials

D. reversing journal entries

E. translating foreign balances

Answer: A


Q172. Which three statements are true regarding the setting up of a bank? (Choose three.)

A. Each bank can have multiple branches

B. Each branch can have multiple accounts

C. Each account can be associated with multiple Payables payment documents and multiple receivables payment methods

D. Each account can be associated with only one payables payment document and receivables payment method

E. Each account can be associated with multiple payables payment documents OR multiple Receivables payment methods but not both

Answer: ABE


Q173. Which three activities would use summary accounts? (Choose three.)

A. creating a monthly recurring standard journal entry to amortize goodwill

B. allocating the total monthly costs of the Information Services department to other departments

C. estimating a sales commission accrual based on the total of all product sales for each division

D. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries

Answer: BCD


Q174. During the entry or update of expense reports in the Payables Expense Report window, holds can be applied on an expense report. These holds are carried forward to the invoice created from the expense report in Payables. Which statement is true?

A. Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window.

B. Any number of user-defined holds and only one system hold can be applied on one expense report in the Payables Expense Report window.

C. Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window.

D. Any number of user-defined holds and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Answer: A


Q175. Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night. A descriptive flexfield called SAI Value has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a corresponding user-defined hold called SAI Hold, which is manually applied whenever an invoice is created and the SAI Value has not been provided to Company Z by the supplier. During weekly reviews of accounting, users have found that invoice transactions that are on SAI Hold are displayed in Project Accounting but not in General Ledger. Select what is causing this issue.

A. Invoices have not been validated.

B. The current General Ledger period is closed.

C. The current Project Accounting period is closed.

D. The Payables Accounting process has not been run.

E. Accounting is not being created by the user-defined hold.

F. The descriptive flexfield field must be a required field, and not an optional field.

Answer: E


Q176. You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust _____.

A. the number of invoice lines

B. the total header invoice amount

C. the amount of another distribution

D. the self assessed taxes in the Tax Details window

Answer: C


Q177. Select the four activities that are NOT part of the Payables closing process. (Choose four.)

A. confirm payment batches

B. close the Payables period

C. close the General Ledger period

D. process period-end receipt accruals

E. review the Uninvoiced Receipts Report

F. process the remaining Inventory transactions

Answer: CDEF


Q178. Identify two types of inquiries that are possible on ledger sets. (Choose two.)

A. variance inquiry

B. summary template and summary account inquiries

C. a budget balance inquiry to view the budgeted figures

D. an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set

E. an account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set

Answer: DE


Q179. Identify the report that is used to reconcile the Accounts Payable liability balance at period end.

A. Accrual Write-Off Report

B. Uninvoiced Receipts Report

C. Accounts Payable Trial Balance

D. Payables Posted Invoice Register

E. Payables Posted Payment Register

F. Matched and Modified Receipts Report

Answer: C


Q180. For each subledger, there must be one _____.

A. journal type

B. account type

C. journal source

D. journal category

Answer: C