Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 221:

  Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process?

  A. opening the next period
  B. closing the current period
  C. revaluing foreign currency balances
  D. translating to the functional currency
  E. consolidating to the parent set of books
  C. revaluing foreign currency balances

• Question 222:

  You just received an invoice for a new supplier. You need to pay it and ensure that all accounting entries are created in General Ledger. You perform these steps, in the order shown:

  1.

  Enter the supplier.

  2.

  Enter the invoice.

  3.

  Create the pay run.

  4.

  Create payment accounting entries.

  5.

  Validate the invoice.

  6.

  Create invoice accounting entries.

  7.

  Transfer the information to General Ledger. What would be the result?

  A. The invoice is not paid and no entries are created in General Ledger.
  B. The invoice is paid and all accounting entries are created in General Ledger.
  C. The invoice is not paid but the invoice accounting entry is created in General Ledger.
  D. The invoice is paid but only the invoice accounting entry is created in General Ledger.
  C. The invoice is not paid but the invoice accounting entry is created in General Ledger.

• Question 223:

  Identify three setup options that are defined in the Financial Options window. (Choose three.)

  A. interest
  B. retainage
  C. miscellaneous
  D. expenses clearing
  E. expense AP accrual account
  B. retainage
  C. miscellaneous
  D. expenses clearing

• Question 224:

  Select the three windows where a user can manually release an invoice hold or payment hold. (Choose three.)

  A. Holds
  B. Actions
  C. Invoice Lines
  D. All Distributions
  E. Scheduled Payments
  A. Holds
  B. Actions
  E. Scheduled Payments

• Question 225:

  Which three activities would use summary accounts? (Choose three.)

  A. creating a monthly recurring standard journal entry to amortize goodwill
  B. allocating the total monthly costs of the Information Services department to other departments
  C. estimating a sales commission accrual based on the total of all product sales for each division
  D. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries
  B. allocating the total monthly costs of the Information Services department to other departments
  C. estimating a sales commission accrual based on the total of all product sales for each division
  D. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries

• Question 226:

  Choose the reason why Tina is unable to view the subledger entries from Oracle Payables in the Oracle General Ledger module. She has run the transfer program that completes successfully.

  A. Journal Import is not submitted.
  B. The Journal source is not defined.
  C. The Journal category is not defined.
  D. Payables is not integrated with General Ledger.
  A. Journal Import is not submitted.

• Question 227:

  Which event reverses an accrual for an item set to accrue on receipt?

  A. paying an invoice
  B. delivering goods to a final destination
  C. running the Receipt Accruals ?Period-end process
  D. matching an invoice in Payables to a purchase order
  D. matching an invoice in Payables to a purchase order

• Question 228:

  Which three statements are true about prepayments? (Choose three.)

  A. You cannot enter prepayments invoices in the Quick Invoice window.
  B. You cannot change a permanent type prepayment to a temporary type prepayment.
  C. You can only partially apply a prepayment to an invoice if the prepayment is partially paid.
  D. A prepayment is a type of invoice that you enter to make an advance payment to a supplier or employee.
  E. Temporary prepayments can be applied to invoices or expenses reports. Permanent prepayments cannot be applied to invoices.
  F. It is not necessary to void the payment document that paid the prepayment to cancel an applied prepayment. You simply need to unapply the prepayment and cancel it.
  A. You cannot enter prepayments invoices in the Quick Invoice window.
  D. A prepayment is a type of invoice that you enter to make an advance payment to a supplier or employee.
  E. Temporary prepayments can be applied to invoices or expenses reports. Permanent prepayments cannot be applied to invoices.

• Question 229:

  Client L has implemented Oracle Payables. They have been able to enter invoices and have them validated, but have been unable to create accounting entries. You have been asked to review the situation. Identify what could be causing this problem.

  A. The base currency has not been defined.
  B. Automatic offsets have been set to balancing.
  C. The primary accounting method has not been defined.
  D. The Payables Accounting Process was not submitted.
  E. The account for gain or loss attribute has not been enabled.
  D. The Payables Accounting Process was not submitted.

• Question 230:

  View the Exhibit.

  

  While entering a journal in the Journals form, you enter a code combination of 29.402.4519.2103.240 in the five-segment Accounting Flexfield. However, you are unable to proceed after entering this account combination.

  What could be the problem in the structure definition of the Accounting Flexfield?

  A. The "Freeze Rollup Groups" check box is selected.
  B. The "Allow Dynamic Inserts" check box is deselected.
  C. The "Freeze Flexfield Definition" check box is selected.
  D. The "Cross-Validate Segments" check box is selected.
  B. The "Allow Dynamic Inserts" check box is deselected.