1Z0-516 Real Exam Questions and Verified Answers

Question 1 Multiple choice

Identify two Descriptive Flexfield components whose values are used to determine Contexts. (Choose two.)

A
The Context field
B
Global Segments
C
The Reference field
D
Context-sensitive Segments

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Correct answers: A, C

Question 2 Multiple choice

Which three statements are true about AutoInvoice? (Choose three.)

A
It determines the General Ledger (GL) accounts by using AutoAccounting.
B
It imports invoices that have only transaction types that are of the "imported" transaction class.
C
It determines the GL accounts from the rows in the RA_INTERFACE_DISTRIBUTIONS_ALL table.
D
It determines whether the invoices should have open or closed status on the basis of the line amounts.
E
It uses the AutoInvoice clearing account if it cannot determine the Receivables account by using AutoAccounting.
F
It uses the AutoInvoice clearing account if the price multiplied by quantity does not equal the total amount for a line.

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Correct answers: A, C, F

Question 3 Single choice

Which is the correct procedure for adding multiple files to File Manager in a single step?

A
Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to "Browse for ZIP File:", identify the zip file to upload, and click the Add File button.
B
Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to "Browse for ZIP File:", and click the Add/Update File button.
C
Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to "Browse for ZIP File:", identify the zip file to upload, and click the Add File button.
D
Click File Manager on the Admin home page, click the Browse button next to "Browse for ZIP File", identify the zip file to upload, and click the Add/Update Files button.
E
Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to "Browse for ZIP File:", identify the zip file to upload, and click the Add/
Update Files button.

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Correct answer: E

Question 4 Single choice

When you enter a journal, the journals in that batch _____.

A
Must share the same period
B
Must share the same currency
C
Must share the same accounting date
D
Must share both the same period and currency
E
Can have different periods, currencies, and accounting dates

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Correct answer: A

Question 5 Single choice

The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a closed period.

You check the setup and confirm that the GL period in which he was able to post the budget journal was closed.

What explanation do you give?

A
The budget year is open.
B
The budget status is frozen.
C
The budget status is current.
D
The Require Budget Journal profile option is set at the set of books level.

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Correct answer: A

Question 6 Multiple choice

Select three levels where additional reporting currency representations can be maintained. (Choose three.)

A
batch
B
journal
C
balance
D
subledger

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Correct answers: B, C, D

Question 7 Multiple choice

Identify the two benefits of using Multi-Org Access Control. (Choose two.)

A
View asset information across multiple asset books.
B
Restrict access to users based on their Organization assignments.
C
Submit and view data across different Ledgers using a single responsibility.
D
Enter Payables invoices for different Operating Units using a single responsibility.
E
View Consolidated requisitions across Operating Units using a single responsibility.

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Correct answers: D, E

Question 8 Multiple choice

XYZ Enterprises, a US-based export firm, has two offices in the US (East) and the US (West). They use their primary ledger for their US operations, and an additional ledger for management analysis and reporting. They use five segments for their accounting flexfield: company, department, account, product, and future. Select the minimum number of required flexfield qualifiers that they would be using for the accounting structure. (Choose three.)

A
Future segment
B
Product segment
C
Balancing segment
D
Cost center segment
E
Department segment
F
Management segment
G
Natural account segment

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Correct answers: C, D, G

Question 9 Multiple choice

ABC Corporation is headquartered in New Dehli with an office in Mumbai. They share the same chart of accounts, calendar, and currency.

The Mumbai ledger contains manual adjustments and automated adjustments. Thew New Dehli office does not need a complete ledger to perform management or statutory reporting.

Which four statements are true in the given scenario? (Choose four.)

A
The Mumbai ledger is an adjustment-only secondary ledger.
B
Perform all adjustments in the Mumbai ledger.
C
Perform all day-to-day transactions in the New Dehli ledger.
D
Use ledger sets to combine transaction data and adjustment data.
E
Perform all day-to-day transactions and adjustments in the New Dehli ledger.
F
Consolidate data in the Mumbai ledger with the New Dehli ledger while reporting.

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Correct answers: A, B, C, D

Question 10 Multiple choice

Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)

A
Attach the fiscal calendar.
B
Define rows and columns.
C
Build a report by using rows and columns.
D
Specify the default ledger for ledger sets.
E
Determine which rows and columns make up your report.

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Correct answers: A, D