Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 231:

  Which three are true regarding purchase order-matched invoices? (Choose three.)

  A. You can set up controls in your system to require you to purchase order-match each invoice.
  B. You can set up controls in your system to require you to invoice-match credit /debit memos that have been matched to a purchase order.
  C. You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.
  D. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt.
  E. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.
  A. You can set up controls in your system to require you to purchase order-match each invoice.
  C. You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.
  E. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.

• Question 232:

  Identify four interface tables that are available in Oracle Payables. (Choose four.)

  A. Payables Open Interface
  B. Suppliers Open Interface
  C. Payables PCard Interface
  D. Payables Payments Interface
  E. Payables PO Matching Interface
  F. Payables Invoice Open Interface
  A. Payables Open Interface
  B. Suppliers Open Interface
  C. Payables PCard Interface
  E. Payables PO Matching Interface

• Question 233:

  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 created a rollup group named Cash.

  How many accounts would the summary account template generate?

  A. 10
  B. 40
  C. 60
  D. 240
  E. 1200
  A. 10

• Question 234:

  You are the Human Resources lead for the ERP implementation of ABC Corporation. You have defined the employees in Oracle Human Resources. Select three activities that utilize the employee record. (Choose three.)

  A. Approvals
  B. Asset assignment
  C. Organization creation
  D. Journal Entry creation
  E. AutoCreate Purchase Orders
  A. Approvals
  B. Asset assignment
  E. AutoCreate Purchase Orders

• Question 235:

  What are the three prerequisites for interfacing Payables invoice lines with Assets? (Choose three.)

  A. The invoice has no holds.
  B. The invoice must be posted to General Ledger.
  C. The invoice has been transferred to General Ledger.
  D. The invoice distribution has "Track as Asset" selected.
  E. The distribution account is an Asset Clearing or CIP account.
  C. The invoice has been transferred to General Ledger.
  D. The invoice distribution has "Track as Asset" selected.
  E. The distribution account is an Asset Clearing or CIP account.

• Question 236:

  Identify two implementation considerations that impact Payables during the closing process. (Choose two.)

  A. Determine how often you will run the Transfer Journal Entries to GL process.
  B. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management.
  C. Choose the detail option to transfer details to General Ledger during the Create Accounting process.
  D. Review the scheduling of the Create Accounting process to ensure that this is processed before processing pay runs.
  E. Review the scheduling of the Mass Additions Create process to ensure that this is processed before the Create Accounting process.
  A. Determine how often you will run the Transfer Journal Entries to GL process.
  B. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management.

• Question 237:

  Tax Content Services store and maintain the master and reference data that are needed to support the other components in E-Business Tax. You use the E-Business Tax application to model details about the tax setup for all your company tax requirements. Identify the two that are NOT a subcomponent of Tax Content Services. (Choose two.)

  A. tax jurisdictions
  B. tax condition sets
  C. basic tax configuration
  D. determining factor sets
  E. country default controls
  F. exemptions and exceptions
  B. tax condition sets
  D. determining factor sets

• Question 238:

  The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a closed status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.

  What must the user do?

  A. Open Dec-04; enter and post the journal; close the period.
  B. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods.
  C. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.
  D. The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in Mar-05.
  C. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.

• Question 239:

  The Payments Manager in Oracle Payables is a module that comprises five components, and is used to create multiple payments.

  Identify the one component that is NOT found in the Payments Manager.

  A. refunds
  B. payments
  C. templates
  D. payment instructions
  E. payment process requests
  F. payments dashboard (home)
  A. refunds

• Question 240:

  Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.)

  A. Assigning legal entities to accounting setups is compulsory.
  B. After the subledger accounting method is assigned, it cannot be changed.
  C. Before completing the accounting setup, secondary ledgers and currency can be deleted.
  D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.
  C. Before completing the accounting setup, secondary ledgers and currency can be deleted.
  D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.