Oracle 1Z0-516 Online Practice Questions and Exam Preparation

Oracle 1Z0-516 Online Questions & Answers

• Question 81:

  A manager wants to review the cash balance by company. He has asked you to create the summary account template. The company's accounting flexfield has four segments:

  1.

  company (5 values)

  2.

  cost centers (30 values)

  3.

  region (4 values)

  4.

  account (180 values)

  The total number of cash accounts is five that are associated with two parents:

  Three accounts are associated with the parent called "Checking."

  Two accounts are identified with the parent called "Savings".

  To combine the cash parents, you create a rollup group named "Cash."

  Which summary account template would you create to review the cash balances by company?

  (D: Detail)

  (T:

  Total)

  A. D-D-D-Cash
  B. T-T-T-Cash
  C. D-T-D-Cash
  D. T-D-T-Cash
  E. T-D-D-Cash
  F. D-T-T-Cash
  F. D-T-T-Cash

• Question 82:

  Which three statements are true about modifying flexfield values? (Choose three.)

  A. The values cannot be disabled.
  B. The value description can be changed.
  C. The effective dates for a value can be limited.
  D. The values can be deleted after they are defined.
  E. The values cannot be modified after they are defined.
  B. The value description can be changed.
  C. The effective dates for a value can be limited.
  E. The values cannot be modified after they are defined.

• Question 83:

  Along with Part Number, Quantity, and Price, you also want to send additional recommended item details from Configuration to Commerce by using a Recommended Item rule. Which two options enable you to achieve this? (Choose two.)

  A. Use the Comment field to pass additional details
  B. Pass the additional details by storing them in a Price Book
  C. This is not feasible. Only Part Number, Quantity, and Price can be passed from Config to Commerce by using Recommended Item rules
  D. Concatenate the additional details to Part Number
  E. Use BOM Mapping rules
  A. Use the Comment field to pass additional details
  E. Use BOM Mapping rules

• Question 84:

  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
  C. Balancing segment
  D. Cost center segment
  G. Natural account segment

• Question 85:

  Select two reasons to use reporting hierarchies instead of summary accounts. (Choose two.)

  A. Use summarized data in journal formulas.
  B. Summary relationships are not permanent.
  C. Inquiry of summary amounts is done online.
  D. The primary use for summarization is only for reports.
  E. You can easily reorganize summary views in the future.
  D. The primary use for summarization is only for reports.
  E. You can easily reorganize summary views in the future.

• Question 86:

  Select two actions that ledger sets permit. (Choose two.)

  A. performing variance inquiries
  B. being used for mass budgets
  C. sending budget balance inquiries
  D. viewing account balances for multiple ledgers in one view E. grouping multiple ledgers that share the same chart of accounts and calendar.
  D. viewing account balances for multiple ledgers in one view E. grouping multiple ledgers that share the same chart of accounts and calendar.

• Question 87:

  Your company is using Oracle Receivables and Trade Management to create and resolve claims.

  A non-invoice-related claim is generated in Oracle Receivables and transferred to Trade Management for investigation. The balancing segments used for accounting on the individual transactions are:

  1.

  Claim Investigation:1001

  2.

  Unapplied Cash: 1000

  3.

  Cash: 1000

  4.

  Receivables: 2000

  5.

  Receipt Write-Off: 3000

  If you are using the Account Generator to update the balancing segment values, what is the balancing segment that is derived if the claim is resolved via receipt write-off?

  A. 1000
  B. 1001
  C. 2000
  D. 3000
  A. 1000

• Question 88:

  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 89:

  Your client occasionally charges sales tax erroneously to some customers. The client's current process involves manually issuing a credit memo to correct the customer's account. Customers routinely deduct the sales tax from the invoice before paying. Identify two steps that can help simplify the clients current process. (Choose two.)

  A. Set up AutoAccounting.
  B. Set up adjustment approval limits.
  C. Set up transaction type for tax adjustment.
  D. Select the TAX: Allow Override of Tax Code profile option.
  E. Define receivables activity of adjustment with tax accounting distribution.
  F. Define receivables activity of miscellaneous cash with tax accounting distribution.
  B. Set up adjustment approval limits.
  E. Define receivables activity of adjustment with tax accounting distribution.

• Question 90:

  The GL accountant tells you that he has defined two budgets. After selecting the budget organization in the Enter Budget Amounts form, he can select only one budget from the list of values (LOV). What would be your response?

  A. The budget status is current.
  B. The last fiscal year of the budget is closed.
  C. The first fiscal year of the budget was never opened.
  D. Accounts must be reassigned to the budget organization.
  C. The first fiscal year of the budget was never opened.