Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 191:

  Identify two places where you can define a legal entity. (Choose two.)

  A. set of books
  B. data access set
  C. Legal Entity Configurator
  D. HRMS organization setup
  E. Accounting Setup Manager
  C. Legal Entity Configurator
  E. Accounting Setup Manager

• Question 192:

  Identify three types of entities that can be defined and related to one another in Oracle Applications. (Choose three.)

  A. ledger
  B. paygroups
  C. legal entities
  D. responsibilities
  E. business groups
  A. ledger
  C. legal entities
  E. business groups

• Question 193:

  Identify the two invoice types processed by the Payables Open Interface process. (Choose two.)

  A. standard
  B. prepayment
  C. debit memos
  D. credit memos
  A. standard
  D. credit memos

• Question 194:

  With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.

  A. issued
  B. updated
  C. negotiable
  D. reconciled
  D. reconciled

• Question 195:

  In the context of adding, deleting, and disabling secondary ledgers, select two valid statements. (Choose two.)

  A. The subledger accounting method must be assigned if defining a balance- or journal-level subledger.
  B. The subledger accounting method must be assigned only to the secondary ledger in case of defining a subledger journals-level secondary ledger.
  C. The subledger accounting method must not be assigned if defining an adjustments-only secondary ledger for manual adjustments in General Ledger.
  D. The subledger accounting method need not be assigned to the primary ledger for assigning a subledger accounting method to the adjustments-only secondary ledger.
  E. The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.
  C. The subledger accounting method must not be assigned if defining an adjustments-only secondary ledger for manual adjustments in General Ledger.
  E. The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.

• Question 196:

  In the Multi-Org model, which organization type is the highest level that impacts accounting?

  A. Ledger
  B. Operating Unit
  C. Business Group
  D. GRE/Legal Entity
  E. Inventory Organization
  A. Ledger

• Question 197:

  Which three are true about internal bank accounts? (Choose three.)

  A. They are defined to disburse funds to suppliers.
  B. They are defined for receiving payment from customers.
  C. They are defined to disburse electronic payments from your customers.
  D. They are defined for receiving electronic payments made to your suppliers.
  E. Internal accounts define bank accounts for which you are the account holder.
  A. They are defined to disburse funds to suppliers.
  B. They are defined for receiving payment from customers.
  E. Internal accounts define bank accounts for which you are the account holder.

• Question 198:

  Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.)

  A. Define accounts for realized gains and realized losses.
  B. Define accounts for unrealized gains and unrealized losses.
  C. Define the weights for each currency used for doing transactions.
  D. Define a batch under which the revaluation journals would be stored.
  E. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.
  B. Define accounts for unrealized gains and unrealized losses.
  E. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.

• Question 199:

  Why would you use the clearing payment method?

  A. To generate a payment document to clear a debit memo
  B. To generate a payment document to clear a credit memo
  C. To account for intercompany expenses when you disburse funds through banks
  D. To account for intercompany expenses when you do not disburse funds through banks
  D. To account for intercompany expenses when you do not disburse funds through banks

• Question 200:

  Here is a description of a report, file, or register.

  Use this to review payments created for each bank account that you use during a time period you specify. The report lists each payment, as well as total payment amount and cleared amount of all payments.

  Identify the name of this standard report.

  A. Positive Pay File
  B. Payment Register
  C. Payment Exceptions Report
  D. Payment Process Request Status Report
  B. Payment Register