Oracle 1Z0-516 Online Practice Questions and Exam Preparation

Oracle 1Z0-516 Online Questions & Answers

• Question 101:

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

• Question 102:

  During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he emails you a checklist of scenarios in which the batches cannot be deleted. Select three scenarios that would be on the checklist. (Choose three.)

  A. The source is frozen.
  B. The journal batch has not been posted.
  C. Funds have been reserved for the batch.
  D. The journal batch has not been approved.
  E. Funds are in the process of being reserved for the batch.
  A. The source is frozen.
  C. Funds have been reserved for the batch.
  E. Funds are in the process of being reserved for the batch.

• Question 103:

  When structuring the summary accounts hierarchy, what fact must you take into consideration?

  A. Grandparenting is not allowed (parents cannot become children).
  B. You must include every parent value that is defined in the chart of accounts to a rollup group.
  C. General Ledger will not automatically maintain rollup relationships from the summary level to the lowest detail level.
  D. You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.
  D. You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.

• Question 104:

  Select two statements that are true about Test Script found in a function debugger. (Choose two.)

  A. Test Script describes the various functions used in BML
  B. Test Script is template of how the BML function should be written
  C. Test Script provides a way to test a BML Library function when array type attributes are input parameters
  D. Test Scripts can be used to compute multiple iterations of the library functions and print each
  A. Test Script describes the various functions used in BML
  C. Test Script provides a way to test a BML Library function when array type attributes are input parameters

• Question 105:

  The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger.

  They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes.

  As an implementation consultant, what one recommendation would you make to meet the above requirement?

  A. Create two primary ledgers with the standard cash method.
  B. Create two primary ledgers with the standard accrual method.
  C. Create a primary ledger with standard cash, and a reporting ledger with standard accrual.
  D. Create a primary ledger with the standard accrual method, and a reporting ledger with standard cash.
  E. Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.
  E. Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.

• Question 106:

  You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four legal entities to support operations in the US (East), the US (West), the UK, and France.

  The chart of accounts and accounting calendar are similar for all entities except France. Only the UK operations want to enable average balances and journal approvals.

  What would be the minimum number of setups needed to meet this need?

  A. four
  B. two
  C. one
  D. three
  D. three

• Question 107:

  ABC Enterprise closes its books on March 31st. These activities have been identified to be performed for the closure of books.

  1) post 2) translate 3) review 4) consolidate 5) revalue 6) run accounting reports 7) close accounting period

  In which order must these activities be performed?

  A. 1, 3, 5, 2, 4, 6, 7
  B. 5, 2, 3, 1, 7, 4, 6
  C. 1, 5, 2, 3, 4, 7, 6
  D. 1, 3, 2, 5, 7, 4, 6
  A. 1, 3, 5, 2, 4, 6, 7

• Question 108:

  A table has 15 Attribute columns to capture additional information. The attributes 1-12 are set up in the Descriptive Flexfield as Global Segments. How many attributes can be set up under any new context?

  A. 1
  B. 3
  C. 15
  D. 12
  E. 11
  B. 3

• Question 109:

  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)
  B. Adjustments
  C. Late charges
  F. Discounts (both earned and unearned)
  G. Activity applications (such as receipt write-off, short-term debt, and claims investigation)

• Question 110:

  To properly associate one transaction type with another in Receivables, you have to define transaction types in a specific order. Identify the correct order.

  A. Invoice, credit memo, debit memo
  B. Invoice, debit memo, credit memo
  C. Credit memo, invoice, debit memo
  D. Credit memo, debit memo, invoice
  E. Debit memo, invoice, credit memo
  F. Debit memo, credit memo, invoice
  C. Credit memo, invoice, debit memo