Oracle 1Z0-517 Online Practice Questions and Exam Preparation

Oracle 1Z0-517 Online Questions & Answers

• Question 71:

  You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust _____.

  A. the number of invoice lines
  B. the total header invoice amount
  C. the amount of another distribution
  D. the self assessed taxes in the Tax Details window
  C. the amount of another distribution

• Question 72:

  ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of primary ledgers that are required to be defined.

  A. five
  B. four
  C. two
  D. one
  E. three
  A. five

• Question 73:

  Select the correct sequence of tasks required for period closing in Oracle General Ledger.

  1.

  Verify that all journals are posted.

  2.

  Close the period of each subledger.

  3.

  Run the Trial Balance report and other month-end reports.

  4.

  Close the period and open the next period.

  5.

  Perform reconciliation of subsidiary ledgers.

  6.

  Transfer and import data from all subledgers.

  A. 6, 5, 2, 1, 4, 3
  B. 3, 2, 1, 6, 4, 5
  C. 6, 5, 1, 3, 2, 4
  D. 6, 5, 2, 1, 3, 4
  E. 6, 2, 3, 1, 5, 4
  D. 6, 5, 2, 1, 3, 4

• Question 74:

  Your client, Company A, has these requirements:

  1.

  Asset invoices are entered in the Payables daily, but assets are transferred to Oracle Assets only once per week.

  2.

  Payables journal entries have to be transferred to GL at least once per month for reporting purposes.

  3.

  Oracle Projects balances must be updated once every month.

  4.

  Payment batches must be processed daily.

  On the basis of the above requirements, what would be the minimum recommended frequency of running the Transfer to GL program?

  A. daily
  B. weekly
  C. monthly
  D. once every two weeks
  B. weekly

• Question 75:

  Select the most common level of security for the MO: Security Profile.

  A. Site
  B. User
  C. Application
  D. Responsibility
  D. Responsibility

• Question 76:

  At the ABC.com site, Cash Management is installed along with Oracle Payables. The payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different. What accounting happens when a payment is issued?

  A. Debit AP Liability, Credit Cash Clearing
  B. Debit AP Liability, Credit Cash
  C. Debit Cash Clearing, Credit Cash
  D. Debit Cash, Credit Cash Clearing
  A. Debit AP Liability, Credit Cash Clearing

• Question 77:

  ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are seto to zero.

  A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount.

  When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released.

  To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

  A. Inspection is required because it is a three-way match.
  B. Manually release the hold because it is not a system hold.
  C. The service must be received in Purchasing because three-way matching is required.
  D. The service msut be received in Accounts Payable because it is a purchase order for a service and not a commodity or item.
  E. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.
  C. The service must be received in Purchasing because three-way matching is required.

• Question 78:

  Identify three statements that are true about bank account information. (Choose three.)

  A. Bank accounts are used to calculate the supplier's discount.
  B. Disbursement bank accounts cannot be used for payment.
  C. Payables, Receivables, and/or Treasury uses bank accounts.
  D. Payables uses an internal bank account to disburse funds to suppliers.
  E. Receivables uses a bank account to receive payments from customers.
  C. Payables, Receivables, and/or Treasury uses bank accounts.
  D. Payables uses an internal bank account to disburse funds to suppliers.
  E. Receivables uses a bank account to receive payments from customers.

• Question 79:

  XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant.

  Select three steps that are required for creating a new accounting structure. (Choose three.)

  A. Define jurisdictions.
  B. Define period types.
  C. Assign legal entities.
  D. Save the accounting structure.
  E. Define accounting representations.
  F. Define subledger accounting methods.
  C. Assign legal entities.
  D. Save the accounting structure.
  E. Define accounting representations.

• Question 80:

  Which three statements are true regarding the setting up of a bank? (Choose three.)

  A. Each bank can have multiple branches
  B. Each branch can have multiple accounts
  C. Each account can be associated with multiple Payables payment documents and multiple receivables payment methods
  D. Each account can be associated with only one payables payment document and receivables payment method
  E. Each account can be associated with multiple payables payment documents OR multiple Receivables payment methods but not both
  A. Each bank can have multiple branches
  B. Each branch can have multiple accounts
  E. Each account can be associated with multiple payables payment documents OR multiple Receivables payment methods but not both