Exam Code: 1Z0-518 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 Receivables Essentials
Certification Provider: Oracle
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2016 Apr 1Z0-518 Study Guide Questions:

Q21. ABC Corp. has determined its Accounting Key Flexfield structure for the Implementation of Oracle E-Business Suite Release 12. The Accounting Key Flexfield structure contains five Segments:

Company, Business Unit, Department, Account, and Product.

They have the following requirements:

1) The Department values should be based on the Business Units.

2) They want to produce a quarterly Balance Sheet for each Company.

Which three statements are true? (Choose three.)

A. The Product Value Set is dependent on the Accounts.

B. The Business Unit Value Set is defined as Independent.

C. The Account Segment has a Value Set with no Validation.

D. The Company Segment is qualified as the Balancing Segment.

E. The Department Segment Is qualified as an Intercompany Segment.

F. Cross-validation rules are required to enforce dependency of Departments on the Business Units.

Answer: BDF


Q22. Horizon Real Estate Company usually Issues rent Invoices to its tenants at the beginning of every quarter. It recognizes the monthly rent revenue on the first day of each month. However, some tenants are required to make the monthly rent payments in two installments that is on the 15th and the fast day of the month. Which two statements are correct about the possible solutions for this business requirement? (Choose two.)

A. Payment term can be set to defer the monthly rent revenue.

B. Invoicing rules can be set to defer the monthly rent revenue.

C. Accounting rules can be set to defer the monthly rent revenue.

D. Payment term can be set to allow customers to make payments in two installments.

E. Invoicing rules can be set to allow customers to make payments in two installments.

F. Accounting rules can be set to allow customers to make payments in two installments.

Answer: CD


Q23. Your client has set up Oracle Lease Management (OLM) and Oracle Credit Management (OCM) without scoring models. Which three tasks can be successfully completed by Oracle Workflow in OCM without manual intervention? (Choose three.)

A. creating a case folder

B. calculating a credit score

C. creating a credit application

D. creating a final credit recommendation

E. sending notifications to the credit scheduler

Answer: ACE


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Q24. XYZ Corp. has acquired ABC Corp. XYZ operates with Multi-Org Access Control. Consequently XYZ Corp. needs to add additional Operating Units. Identify the statement that describes the sequence for adding additional Operating Units.

A. It is not possible to add additional Operating Units.

B. Set the MO: Operating Unit profile option, run the Replicate Seed Data concurrent request, create the Operating Unit, and create new responsibilities as necessary.

C. Set the MO: Security Profile profile option, run the Replicate Seed Data concurrent request, create the Operating Unit, and create new responsibilities as necessary.

D. Create the Operating Unit, run the Replicate Seed Data concurrent request, create new responsibilities as necessary, and set up the MO: Default Operating Unit profile option.

E. Create the Operating Unit, run the Replicate Seed Data concurrent request, assign the Operating Unit to a security hierarchy, run Security List maintenance concurrent program, create new responsibilities as necessary, and set up the MO: Security Profile profile option.

Answer: E


Q25. Which four transaction types or activities are affected by the “AR: Disable Receivable Activity Balancing Segment” profile option? (Choose four.)

A. invoices

B. adjustments

C. late charges

D. debit memos

E. credit memos

F. discounts (both earned and unearned)

G. activity applications (such as receipt write-off, short-term debt, and claims Investigation)

Answer: BCFG


Q26. A clerk from ABC Inc. receives a customer receipt that does not have sufficient Information to identify the customer or invoice.

Which is the correct method of entering the receipt In Oracle Accounts Receivable?

A. Enter the receipt as an unapplied receipt.

B. Enter the receipt as an unidentified receipt.

C. Enter the receipt as an on-account receipt.

D. Enter the receipt as a miscellaneous receipt.

E. Enter the receipt by applying it to a dummy customer account.

Answer: B


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Q27. Identify three standard views that you can access from the Notification Worklist of Oracle Workflow Self-Service Web pages in Oracle E-Business Suite Release 12. (Choose three.)

A. Open Notifications

B. To Do Notifications

C. Closed Notifications

D. Notifications from Me

E. Rejected Notifications

Answer: ABD


Q28. You receive a request to create a new responsibility for US Payables Manager. The request states that the new responsibility should have access to all menu (terns except Invoice Payments.

Identify two options that you would use to restrict the Invoice Payments option on the new US Payables Manager responsibility. (Choose two.)

A. Remove the request group from the new US Payables Manager responsibility.

B. Create a Menu Exclusion for Invoice Payments on the US Payables Manager responsibility.

C. Create an Item Exclusion for Invoice Payments on the US Payables Manager responsibility.

D. Create a Security Attribute for Invoice Payments on the US Payables Manager responsibility.

E. Create a new menu excluding the Invoice Payments option and attach the new menu to the responsibility.

Answer: BE


Q29. Identify three setups In Oracle Receivables that control how discounts are calculated. (Choose three.)

A. profile options

B. payment terms

C. system options

D. receipt classes

E. customer profiles

Answer: ABC


Q30. Your client has requirements to enter customers, suppliers, and remit-to addresses In countryspecific formats for the United States, United Kingdom, and Ireland. Which are the three steps required to set up new flexible address formats in Oracle Applications? (Choose three.)

A. creating address style lookup

B. creating flexible address code

C. setting up the "Default Address" profile option

D. assigning address style to a specific country

E. setting up flexible address format in a descriptive flexfield

Answer: ADE