Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 301:

  In the accrual process for perpetual accruals, which two events generate accounting entries that can be transferred to GL? (Choose two.)

  A. processing a receipt
  B. entering a purchase order
  C. running the period-end accrual program
  D. entering invoices and matching them in Payables
  A. processing a receipt
  D. entering invoices and matching them in Payables

• Question 302:

  Choose the process that can be performed after a pay run has been formatted.

  A. Change an invoice amount.
  B. Prevent payment to a supplier.
  C. Print checks from the output file.
  D. Prevent payment of a particular invoice.
  E. Add an invoice that Payables did not originally select.
  C. Print checks from the output file.

• Question 303:

  Identify three invoice holds that cannot be manually released. (Choose three.)

  A. Acct Hold Reason
  B. Funds Hold Reason
  C. Invoice Hold Reason
  D. Variance Hold Reason
  E. Insufficient Information
  F. Matching Hold Reason
  G. Prepaid Amount Reason
  A. Acct Hold Reason
  E. Insufficient Information
  G. Prepaid Amount Reason

• Question 304:

  Select three invoice types that can be entered ONLY in the Invoice Workbench, and CANNOT be entered via the Invoice Gateway. (Choose three.)

  A. debit memos
  B. credit memos
  C. prepayments
  D. PO default invoice
  E. PO standard invoice
  A. debit memos
  C. prepayments
  D. PO default invoice

• Question 305:

  The transaction Sweep Report generated as part of the payables close process shows some payments. What are the possible reasons? (Choose all that apply.)

  A. The payments were voided
  B. The checks associated with the payments were not printed
  C. One or more of the invoices paid by the payments were not accounts
  D. The cash account code combination of the payments has been disabled
  E. The suppliers for which the payments have been made have deactivated
  C. One or more of the invoices paid by the payments were not accounts
  D. The cash account code combination of the payments has been disabled

• Question 306:

  Which module of Oracle E-Business Suite Release 12 sends revaluation and accrual entries to General Ledger?

  A. Oracle Assets
  B. Oracle Projects
  C. Oracle Treasury
  D. Oracle Receivables
  E. Oracle Property Manager
  C. Oracle Treasury

• Question 307:

  As part of its closing process, XYZ Corporation reviews receipt accruals. Occasionally, Payables matches incorrectly, and therefore they find that some perpetual accruals never clear, leaving reconciliation items on their accrual reports. Which two actions can they perform to solve the problem? (Choose two.)

  A. Reverse the invoice distributions and rematch if possible.
  B. Run the Uninvoiced Receipts Report to identify the receipt accrual that has not cleared and create a manual journal entry in General Ledger to clear the receipt from the report.
  C. Run the Matching Hold Detail Report to identify the receipt that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.
  D. Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.
  A. Reverse the invoice distributions and rematch if possible.
  D. Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.

• Question 308:

  Quick Match is one way to match an invoice to a purchase order. Use Quick Match to match invoices to open, unbilled purchase order lines. Quick Match matches shipments on a first in, first out (FIFO) basis.

  Identify two ways that Quick Match is convenient to use when matching an invoice to a purchase order. (Choose two.)

  A. Invoices that have one shipment line
  B. invoices that are partially received on the purchase order
  C. multiple shipments that are received in chronological order
  D. invoices matched to a purchase order that has multiple distribution lines
  A. Invoices that have one shipment line
  C. multiple shipments that are received in chronological order

• Question 309:

  The Quick Payment method is best described as the method of _____.

  A. creating a payment without an invoice
  B. manually writing a check outside of Payables
  C. recording a payment made outside of Payables
  D. creating and printing a computer-generated payment to pay a supplier for one or more invoices
  D. creating and printing a computer-generated payment to pay a supplier for one or more invoices

• Question 310:

  Identify three functions that the Create Accounting program provides. (Choose three.)

  A. validates and creates subledger journal entries
  B. generates the Posted Journal Report for subledger journal entries
  C. transfers final journal entries in the current batch run to General Ledger
  D. applies the application accounting definitions that are created in Accounting Builder (ABM)
  E. allows you to update final journal entries before the Transfer to General Ledger process is run
  F. generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program
  A. validates and creates subledger journal entries
  C. transfers final journal entries in the current batch run to General Ledger
  F. generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program