Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 331:

  You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger that reflects XYZ Company's business. Select four data elements that you would need to obtain from XYZ Company to create a ledger for your demo. (Choose four.)

  A. the suspense account
  B. the intercompany account
  C. the retained earnings account
  D. the number of accounting periods
  E. the base (functional) currency of the company
  F. the accounting calendar with periods and the fiscal year-end
  G. the company organization structure for the chart of accounts
  C. the retained earnings account
  E. the base (functional) currency of the company
  F. the accounting calendar with periods and the fiscal year-end
  G. the company organization structure for the chart of accounts

• Question 332:

  You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid.

  Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.

  A. Enter Payments
  B. Invoice Overview
  C. Invoice Distributions
  D. Scheduled Payments
  D. Scheduled Payments

• Question 333:

  You have the following information:

  The Accounting flexfield structure is "company, department, product, account." Product has two rollup groups: domestic and international. Department has one rollup group: manufacturing. All accounting flexfield segment values can use

  alphanumeric characters.

  Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total)

  A. T-T-T-T
  B. T-D-D-D
  C. D-D-D-D
  D. D-T-domestic-D
  E. D-manufacturing-D-T
  F. T-manufacturing-international-D
  C. D-D-D-D

• Question 334:

  Identify three statements that describe Payment Terms. (Choose three.)

  A. default from the supplier site
  B. cannot be specified in import tables
  C. can be used for electronic payments
  D. can be used to schedule payments for an invoice
  E. automatically calculate due dates, discount dates, and discount amounts for each invoice
  A. default from the supplier site
  D. can be used to schedule payments for an invoice
  E. automatically calculate due dates, discount dates, and discount amounts for each invoice

• Question 335:

  XYZ Corp. must complete the subledger account process and perform other period-end closing activities. Payables must validate and account for the remaining invoices that have system holds. Select the period-end processing order to be followed assuming that there are no error transactions.

  A. journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger
  B. create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting
  C. invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting
  D. transfer journal entries to General Ledger, submit journal import, create accounting, invoice validation, journal posting
  C. invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting

• Question 336:

  Identify three processes that you must run before closing your Payables period. (Choose three.)

  A. Expense Report Export
  B. The Create Accounting program
  C. Payables Open Interface Import
  D. Period Close Exceptions Report
  E. The Transfer Journal Entries to GL program
  B. The Create Accounting program
  D. Period Close Exceptions Report
  E. The Transfer Journal Entries to GL program

• Question 337:

  Self-assessed tax amounts are taxes that you are liable for, but do not appear on the invoice, such as use tax. To use self -assessed taxes, enable the Set for Self Assessment/Reverse Charge option when you define the _____ in the Party Tax Profile.

  A. set allow tax recovery
  B. tax registration information
  C. recoverable tax information
  D. set allow manual tax only lines
  B. tax registration information

• Question 338:

  At your client site, under Payables Options, the Transfer to GL option has been set to Summarize by Accounting Period. The period-end close processes for AP have run and the Payables journals (purchase invoices and payments) have been created and posted in GL. Which statement is true?

  A. It is not possible to drill down from GL to Payables.
  B. It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables.
  C. Drilldown from the journals of category purchase invoices in GL is possible, but not drilldown from journals of category payments.
  D. Drilldown from the journals of category payments in GL to Payables is possible, but not drilldown from journals of category purchase invoices.
  B. It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables.

• Question 339:

  Identify the three reports that can be processed using the State Controller window. (Choose three.)

  A. Consolidation Audit
  B. Consolidations Journal
  C. Consolidation Financial
  D. Consolidation Exceptions
  E. Consolidation Balance Inquiry
  A. Consolidation Audit
  B. Consolidations Journal
  D. Consolidation Exceptions

• Question 340:

  Identify four purposes for which the Special Calendar is used. (Choose four.)

  A. payment terms
  B. recurring invoices
  C. Key Indicators Report
  D. automatic tax withholding
  E. opening and closing payables periods
  F. controlling the number of future periods
  A. payment terms
  B. recurring invoices
  C. Key Indicators Report
  D. automatic tax withholding