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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Q51. What are the five steps for creating MassAllocation journal entries? (Choose five.)

A. posting journal entries

B. reviewing journal entries

C. validating cross-validation rules

D. freezing the accounting flexfield

E. generating MassAllocation journals

F. creating the MassAllocation definition

G. validating the MassAllocation definition

Answer: ABEFG


Q52. Which three statements are true about the revaluation process? (Choose three.)

A. You must post the revaluation journal entries.

B. The revaluation process must be executed after the translation process has completed.

C. This process revalues the foreign currency portion of the account balances by using the revaluation rate defined in the period rates table.

D. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.

Answer: ACD


Q53. Identify what three considerations must be executed before creating a report by using the financial statement generator. (Choose three.)

A. Download Web ADI.

B. Create the database link.

C. Determine the data to be reported.

D. Define attributes for rows and columns.

E. Decide which rows and columns will make up the report.

Answer: CDE


Q54. Which item cannot be queried in the Find Consolidation Process window?

A. balance type

B. parent period

C. mapping sets

D. parent calendar

E. elimination sets

Answer: D


Q55. The management segment qualifier must be attached to which key flexfield segment?

A. future segment

B. account segment

C. company segment

D. department segment

E. intercompany segment

Answer: D


Q56. Identify three statements that are true for the automatic withholding tax process. (Choose three.)

A. Withholding tax type distributions are negative amounts.

B. The Withholding tax group can be assigned only to an invoice distribution.

C. Using automatic withholding tax, Payables creates the correct withholding tax distributions.

D. Withholding tax distributions are automatically created during invoice validation or during payment processing.

E. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.

Answer: CDE


Q57. 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


Q58. Identify three options available to manage cash requirements. (Choose three.)

A. Include Only Due.

B. Change Pay Groups.

C. Select Payment Terms.

D. Select additional Pay Through Days.

E. Narrow the selection of invoices in pay run.

Answer: ADE


Q59. Company ABC has implemented Oracle Payables. They have decided not to define supplier bank accounts. They will use payment batches, quick payments, and manual payment processing. Select three payment methods that are available based on the company's requirements. (Choose three.)

A. wire

B. check

C. clearing

D. electronic funds transfer (EFT)

E. electronic data interchange (EDI)

F. extensible markup language (XML)

Answer: ABC


Q60. 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