Vivid of 1Z0-517 test materials and practice exam for Oracle certification for IT examinee, Real Success Guaranteed with Updated 1Z0-517 pdf dumps vce Materials. 100% PASS Oracle EBS R12.1 Payables Essentials exam Today!

2016 May 1Z0-517 Study Guide Questions:

Q1. XYZ Corp. must complete the subledger account process and perform other period-end closing activities. Payables must validate and account for the remaining invoices that have system holds. Select the period-end processing order to be followed assuming that there are no error transactions.

A. journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger

B. create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting

C. invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting

D. transfer journal entries to General Ledger, submit journal import, create accounting, invoice validation, journal posting

Answer: C


Q2. Payables leverages E-Business Tax to set up, calculate, and manage transaction taxes, such as Sales, VAT and Offset taxes. Which two taxes are NOT calculated and managed by Payables? (Choose two.)

A. excise

B. property

C. customs duty

D. vehicle license

E. recoverable tax

Answer: BD


Q3. Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?

A. Natural accounts were defined as parent values.

B. Natural accounts were defined to not allow posting.

C. Natural accounts were defined with an incorrect account type.

D. Natural accounts were defined to store both statistical and monetary values.

Answer: C


1Z0-517  test

Update 1Z0-517 practice test:

Q4. Identify three processes that you must run before closing your Payables period. (Choose three.)

A. Expense Report Export

B. The Create Accounting program

C. Payables Open Interface Import

D. Period Close Exceptions Report

E. The Transfer Journal Entries to GL program

Answer: BDE


Q5. The manual payment method is best described as the method of _____.

A. paying multiple checks in a pay run

B. paying a single check within Payables

C. manually writing a check outside of Payables

D. recording a payment made outside of Payables

Answer: D


Q6. Company K has identified these business requirements for their Payables operations:

1. All invoices must be part of a batch.

2. Discounts must be taken in all situations.

3. Invoices must be numbered by the system.

4. Accounting entries must be created for all invoice types.

5. All credit memos above a certain dollar amount must be approved before entry.

6. Four-way matching is enforced.

Select the profile option to be configured that will satisfy the above requirements.

A. AP: Invoice Match

B. AP: Use Invoice Batch Controls

C. AP: Enable Invoice Autonumbering

D. AP: AP Discounts Interface Start Date

E. AP: Use Invoice Accounting For Credit Memos

Answer: B


2passeasy.com

Refined 1Z0-517 practice exam:

Q7. During a pilot run of Financial Statement Generator reports, the report output displayed credit amounts as negative numbers. The customer requires the credit amounts on the reports to be positive instead of negative. Identify the solution that must be implemented to meet the customer's requirements.

A. Inform the customer that this requirement would require a customization.

B. Select the change sign check box for the related row or column definition.

C. Deselect the change sign check box for the related row or column definition.

D. Create a journal by doubling the values wherever the report is displaying negative numbers.

Answer: B


Q8. Select the three windows where a user can manually release an invoice hold or payment hold. (Choose three.)

A. Holds

B. Actions

C. Invoice Lines

D. All Distributions

E. Scheduled Payments

Answer: ABE


Q9. ABC.com wants to create invoices for suppliers on the basis of purchase order (PO) receipts.

Which three steps should the company take in Payables? (Choose three.)

A. Enable Gapless numbering

B. Enable the invoice match option

C. Enable pay on receipt at site level

D. Submit the pay on Receipt Auto Invoice Program

Answer: ACD


Q10. Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.)

A. Assigning legal entities to accounting setups is compulsory.

B. After the subledger accounting method is assigned, it cannot be changed.

C. Before completing the accounting setup, secondary ledgers and currency can be deleted.

D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.

Answer: CD