Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 281:

  XYZ Corporation has five segments in its accounting flexfield. For a special profit-and-loss report, they want to sort by the fourth segment, which is "product." Select the element that would meet this need.

  A. row set
  B. row order
  C. content set
  D. column set
  B. row order

• Question 282:

  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 283:

  Identify three features of a Balancing Entity. (Choose three.)

  A. Balance sheets are prepared for a Balancing Entity.
  B. A Legal Entity may comprise one or more than one balancing segments.
  C. Multiple Balancing Entities within the same Operating Unit structure is not supported.
  D. A Balancing Entity is represented as a balancing segment value in the accounting flexfield structure.
  E. Oracle E-Business Suite Release 12 automatically secures balancing segment values within your chart of accounts with specific Legal Entities or Operating Units.
  A. Balance sheets are prepared for a Balancing Entity.
  B. A Legal Entity may comprise one or more than one balancing segments.
  D. A Balancing Entity is represented as a balancing segment value in the accounting flexfield structure.

• Question 284:

  Which item cannot be queried in the Find Consolidation Process window?

  A. balance type
  B. parent period
  C. mapping sets
  D. parent calendar
  E. elimination sets
  D. parent calendar

• Question 285:

  Identify two advantages of using Oracle Internet Expenses. (Choose two.)

  A. It improves cycle times by routing expense reports via a workflow.
  B. Expense reports that are entered using Internet Expenses are visible in Payables.
  C. Enforcement of spending policy controls expenses, showing any policy deviations.
  D. Expense report template attributes are defined in Internet Expenses to manage expense types.
  A. It improves cycle times by routing expense reports via a workflow.
  C. Enforcement of spending policy controls expenses, showing any policy deviations.

• Question 286:

  To achieve the maximum summary account functionality for total (T), how must the value sets for each segment of the accounting key flexfield be set?

  A. Precision must be set to one.
  B. The list type must be set to long list of values.
  C. The maximum size of each segment of the accounting key flexfield must be five characters.
  D. The format type must be set to character, and the additional option of numbers only must not be selected.
  D. The format type must be set to character, and the additional option of numbers only must not be selected.

• Question 287:

  ABC.com wants to provide transparency in its Accounts Payable (AP) operations to its counterparts within the purchasing, Fixed Assets and General Ledger departments. Several complaints have surfaced regarding issues with IP process times and help up payments. The AP department must strictly adhere to accounting regulations about segregating job functions while trying to meet this requirement. Which task should be performed to make this possible?

  A. Give access to all AIP forms and reports
  B. Give AP inquiry-only access, only though Oracle responsibilities
  C. Implement a Web-based version of Oracle AP that allows Web viewing of AP information
  D. Create custom inquiry forms for them to view invoices and payments but not supplier information
  E. Change the profile options to allow unrestricted viewing of the AP data in PO and GL so that the staff from these other areas do not have to log in to AP
  B. Give AP inquiry-only access, only though Oracle responsibilities

• Question 288:

  Identify three statements that are true about E-Business Tax and Payables. (Choose three.)

  A. In E-Business Tax, tax calculations are based on supplier's site defaults.
  B. In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
  C. Payables is not integrated with E-Business Tax to provide tax services for invoices.
  D. With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.
  E. Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices.
  B. In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
  D. With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.
  E. Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices.

• Question 289:

  Identify three statements that are correct for the multi-currency functionality of Oracle General Ledger. (Choose three.)

  A. Enter transactions and reports in any currency.
  B. Enter exchange rates online and automatically.
  C. Translate only actual but not budgeted balances.
  D. Translate only budgeted but not actual balances.
  E. Use daily, period end, average, and historical rates.
  A. Enter transactions and reports in any currency.
  B. Enter exchange rates online and automatically.
  E. Use daily, period end, average, and historical rates.

• Question 290:

  Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.)

  A. The Withholding Tax Report is prepared by suppliers.
  B. The Withholding Tax Group defaults in from the supplier or supplier site.
  C. There can be multiple withholding tax codes with multiple tax authorities assigned to a group.
  D. You can set up a special calendar to define periods that Payables uses for automatic withholding tax.
  E. The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with.
  B. The Withholding Tax Group defaults in from the supplier or supplier site.
  C. There can be multiple withholding tax codes with multiple tax authorities assigned to a group.
  D. You can set up a special calendar to define periods that Payables uses for automatic withholding tax.