Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 141:

  ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the quarter's final calendar month.Select the remaining setup for the calendar to meet the requirement.

  A. defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month; defining an adjusting period on the last day of each quarter
  B. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining four adjusting periods for March 31 of the fiscal year
  C. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining an adjusting period on the last Friday of each quarter
  D. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter
  D. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter

• Question 142:

  Which three statements are true about the revaluation process? (Choose three.)

  A. You must post the revaluation journal entries.
  B. The revaluation process must be executed after the translation process has completed.
  C. This process revalues the foreign currency portion of the account balances by using the revaluation rate defined in the period rates table.
  D. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.
  A. You must post the revaluation journal entries.
  C. This process revalues the foreign currency portion of the account balances by using the revaluation rate defined in the period rates table.
  D. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.

• Question 143:

  You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements:

  1.

  They want to be able to pay only certain types of suppliers by batch.

  2.

  Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention.

  3.

  Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued.

  To meet the above requirements, you perform these steps:

  A. 2 and 3
  B. 1, 2 and 3
  C. 1 and 2
  D. 1 and 3
  D. 1 and 3

• Question 144:

  To review All of Todays selected invoices from the payment process request in the Payment Manager, perform these actions:

  1.

  Navigate to the Payment Process Request component.

  2.

  Navigate to the (B) Views window.

  3.

  Select All of Todays from the drop-down list.

  4.

  Click the Go button.

  5.

  The payment process request for today is displayed. Select the actions, arranged in their proper sequence.

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

• Question 145:

  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.
  A. The budget year is open.

• Question 146:

  Select three types of Payables open interfaces that will import data into Payables from other applications or third-party solutions. (Choose three.)

  A. PCard Open Interface
  B. Supplier Open Interface
  C. Matching Open Interface
  D. Receiving Open Interface
  E. Payments Open Interface
  A. PCard Open Interface
  B. Supplier Open Interface
  C. Matching Open Interface

• Question 147:

  Identify three statements that are true for electronic or wire payment. (Choose three.)

  A. A wire payment validates the supplier's bank details.
  B. More bank accounts for a supplier or supplier site can be added.
  C. Supplier banks must be assigned to the supplier for electronic payment.
  D. Payables does not require supplier bank account information for a wire payment.
  E. Electronic payment instructs the bank to make payment to a supplier bank account.
  C. Supplier banks must be assigned to the supplier for electronic payment.
  D. Payables does not require supplier bank account information for a wire payment.
  E. Electronic payment instructs the bank to make payment to a supplier bank account.

• Question 148:

  Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

  A. have similar ledger processing options
  B. open and close periods simultaneously
  C. have tax requirements that are specific for a legal entity
  D. require autonomous document sequencing for a legal entity
  E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes
  A. have similar ledger processing options
  B. open and close periods simultaneously
  E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

• Question 149:

  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 150:

  Which journal entry type does General Ledger automatically reverse and post?

  A. actuals
  B. budgets
  C. actuals and budgets
  D. budgets and encumbrance
  E. actuals, budgets, and encumbrance
  A. actuals