Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 21:

  Identify three statements that are true about bank and supplier payment. (Choose three.)

  A. Primary bank account can be only at the supplier site.
  B. Credit and debit memos are examples of payment documents.
  C. Supplier's payment requires a bank account with at least one payment document.
  D. Use the Banking Details page to create bank accounts for making payments to suppliers.
  E. If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank accounts.
  C. Supplier's payment requires a bank account with at least one payment document.
  D. Use the Banking Details page to create bank accounts for making payments to suppliers.
  E. If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank accounts.

• Question 22:

  Identify four functions of the Invoice Validation process. (Choose four.)

  A. applying any required holds
  B. releasing any qualifying holds
  C. applying all prepayments and discounts
  D. validating the General Ledger accounting information
  E. validating and creating accounting entries for the invoice
  F. ensuring that the total amount of all distributions equals the invoice total
  G. creating an additional distribution for any difference between the total amount of all distributions and the invoice total
  A. applying any required holds
  B. releasing any qualifying holds
  D. validating the General Ledger accounting information
  F. ensuring that the total amount of all distributions equals the invoice total

• Question 23:

  Identify three benefits of using the Journals Import: Group By Effective Date profile option. (Choose three.)

  A. facilitates consolidation
  B. makes daily updates to daily business intelligence
  C. facilitates more transparent exchange rate conversions
  D. accounts for business transactions by effective date or by accounting date
  E. facilitates financial auditing and compliance with the new Sabanes-Oxley Act
  B. makes daily updates to daily business intelligence
  D. accounts for business transactions by effective date or by accounting date
  E. facilitates financial auditing and compliance with the new Sabanes-Oxley Act

• Question 24:

  Which types of invoices can be automatically generated (without any manual intervention), if the appropriate setup steps have been performed? (Choose three.)

  A. Interest Invoices
  B. Recurring Invoices
  C. Purchase order (PO) matched invoices
  D. Pay on receipt invoices
  E. Withholding tax invoices
  A. Interest Invoices
  D. Pay on receipt invoices
  E. Withholding tax invoices

• Question 25:

  Select three processes that must be performed before closing the purchasing period. (Choose three.)

  A. Process period-end receipt accruals.
  B. Run the Purchasing Account Analysis Report.
  C. Process the remaining inventory transactions.
  D. Run and review the Uninvoiced Receipts Report.
  E. Run Transfer Journal Entries to the GL program from Receiving.
  A. Process period-end receipt accruals.
  D. Run and review the Uninvoiced Receipts Report.
  E. Run Transfer Journal Entries to the GL program from Receiving.

• Question 26:

  Use the Invoice Tolerances window to define the matching tolerances you want to allow for variances among invoice, purchase order, and receipt information. You can define both percentage-based and amount-based tolerances. The system checks for these tolerances when Invoice Validation is run.

  Select three types of purchase order-matching tolerances. (Choose three.)

  A. Price %
  B. Price Correction
  C. Shipment Amount
  D. Quantity Ordered %
  E. Minimum Quantity Received
  A. Price %
  C. Shipment Amount
  E. Minimum Quantity Received

• Question 27:

  E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)

  A. Enable "Set as offset tax."
  B. Enable "Allow tax recovery."
  C. Set the default recovery settlement option to "Deferred."
  D. Define tax accounts, tax expense, recoverable tax, and interim tax.
  E. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
  B. Enable "Allow tax recovery."
  C. Set the default recovery settlement option to "Deferred."
  D. Define tax accounts, tax expense, recoverable tax, and interim tax.
  E. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.

• Question 28:

  Identify the four setup options that control supplier defaults. (Choose four.)

  A. financial options
  B. payables options
  C. receiving options
  D. purchasing options
  E. Payables system setup
  F. Trading Community Architecture (TCA)
  A. financial options
  B. payables options
  D. purchasing options
  E. Payables system setup

• Question 29:

  Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?

  A. Natural accounts were defined as parent values.
  B. Natural accounts were defined to not allow posting.
  C. Natural accounts were defined with an incorrect account type.
  D. Natural accounts were defined to store both statistical and monetary values.
  C. Natural accounts were defined with an incorrect account type.

• Question 30:

  Identify three features of Payment Manager. (Choose three.)

  A. updates a supplier's bank details
  B. provides calculation of the interest amount
  C. uses templates to select invoices to pay that meet the payment criteria
  D. creates payment process request templates by specifying invoice selection criteria
  E. automatically submits invoices via payment process requests to Oracle Payments for processing and payment
  C. uses templates to select invoices to pay that meet the payment criteria
  D. creates payment process request templates by specifying invoice selection criteria
  E. automatically submits invoices via payment process requests to Oracle Payments for processing and payment