Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 111:

  Select two valid statements that apply to chart of accounts structures for a global company. (Choose two.)

  A. A segment of different chart of accounts structures can share the same value set.
  B. A global chart of accounts is possible only if all sets of books for companies worldwide use the same chart of accounts structure.
  C. If the same value set is used for two or more chart of accounts structures, the same security rules for that segment cannot be assigned to multiple structures.
  D. It is possible to have multiple companies in the same set of books provided that they share the same chart of accounts structure, accounting calendar, and reporting currency.
  A. A segment of different chart of accounts structures can share the same value set.
  B. A global chart of accounts is possible only if all sets of books for companies worldwide use the same chart of accounts structure.

• Question 112:

  ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero. A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount. When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released. To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

  A. Inspection is required because it is a three-way match.
  B. Manually release the hold because it is not a system hold.
  C. The service must be received in Purchasing because three-way matching is required.
  D. The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item.
  E. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.
  C. The service must be received in Purchasing because three-way matching is required.

• Question 113:

  Which two methods would you recommend for preventing the creation of duplicate suppliers? (Choose two.)

  A. Run the Vendor Audit Report
  B. Recommend standard naming conventions for suppliers
  C. Run the supplier listing by supplier name report to check the duplicates
  D. Query the supplier in the supplier form before creating a new supplier
  B. Recommend standard naming conventions for suppliers
  D. Query the supplier in the supplier form before creating a new supplier

• Question 114:

  You are scheduling multiple payments to pay an invoice amount of $1,000 over multiple dates. Describe the process for scheduling one payment of $600 and a second payment of $400.

  1.

  Go to the Scheduled Payments tabbed page of the Invoices form.

  2.

  Keep the original invoice amount of $1,000.

  3.

  Let the due date default to the first scheduled payment date.

  4.

  Adjust the gross amount from $1,000 to $600. 5 Click the Split Schedule button.

  6. Update the due date on the new line item to the last scheduled payment date.

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

• Question 115:

  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 116:

  You are at a client site that has thousands of suppliers in their current legacy system that will end up in the Oracle Production system. Before conversion, you must perform a supplier cleanup on these numerous names and sites. Which three naming conventions would you use for "Best Practices" during the supplier cleanup? (Choose three.)

  A. Use Last Name, First Name to identify employees as suppliers.
  B. Create some supplier names in uppercase and others in mixed case.
  C. Use abbreviations in the supplier name even it is not abbreviated on the invoice.
  D. Remove all punctuation marks (commas, periods, and so on) from the supplier name.
  E. Use the exact spelling of a supplier name as it appears on the invoice for the naming convention.
  A. Use Last Name, First Name to identify employees as suppliers.
  D. Remove all punctuation marks (commas, periods, and so on) from the supplier name.
  E. Use the exact spelling of a supplier name as it appears on the invoice for the naming convention.

• Question 117:

  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:

  company (5 values)

  cost centers (30 values)

  region (4 values)

  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 118:

  Identify two true statements about using column sets in an FSG report. (Choose two.)

  A. Formats can be set for each column.
  B. Accounts cannot be assigned to a column set.
  C. Calculations can be performed by using columns.
  D. The seeded column sets provided must be used.
  A. Formats can be set for each column.
  C. Calculations can be performed by using columns.

• Question 119:

  Identify the default value for the term date that would extend the time to pay an invoice, if the payment term is net 30 days.

  A. invoice date
  B. system date
  C. invoice entered date
  D. goods received date
  E. invoice received date
  B. system date

• Question 120:

  Identify three statements that are true for setting up withholding tax for a supplier and supplier site. (Choose three.)

  A. Withholding tax is an account distribution process.
  B. The withholding tax option can be overwritten at the invoice level.
  C. If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the supplier's sites.
  D. Payables defaults the withholding tax group from the supplier site to the invoice and then to invoice distribution.
  E. The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject to withholding tax.
  C. If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the supplier's sites.
  D. Payables defaults the withholding tax group from the supplier site to the invoice and then to invoice distribution.
  E. The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject to withholding tax.