Oracle 1Z0-520 Online Practice Questions and Exam Preparation

Oracle 1Z0-520 Online Questions & Answers

• Question 11:

  Which four are true about the Future Periods field in the Financials Options window? (Choose four.)

  A. You cannot import or enter invoices in a future period.
  B. You can import/enter invoices in future periods, pay and create accounting entries for them.
  C. You can change this number to the maximum number of future periods you want to allow in Payables.
  D. You can import/enter invoices in future periods but you cannot pay or create accounting entries for them.
  E. The first time you enter this field, Payables defaults the number of future periods you use in your Ledger as a default.
  F. Payables uses this value to limit the number of future periods you can maintain in the Control Payables Periods window.
  G. After you change the status of a future period to Open, you can change it back to Future only if you did not create any transactions in that period.
  C. You can change this number to the maximum number of future periods you want to allow in Payables.
  D. You can import/enter invoices in future periods but you cannot pay or create accounting entries for them.
  E. The first time you enter this field, Payables defaults the number of future periods you use in your Ledger as a default.
  F. Payables uses this value to limit the number of future periods you can maintain in the Control Payables Periods window.

• Question 12:

  Identify the correct sequence of steps in the purchase order period close business flow.

  A. 1. Review the Uninvoiced Receipts report. > 2. Process period-end accruals. > 3.Close the purchasing period. > 4. Process remaining inventory transactions and close the inventory accounting period. > 5. Run the Accrual Rebuild Reconciliation report. > 6. Write off accrued transactions as necessary. > 7. Create a manual journal entry for write-offs.
  B. 1. Review the Uninvoiced Receipts report. > 2. Process period-end accruals. > 3.Close the purchasing period. > 4. Run the Accrual Rebuild Reconciliation report. > 5. Write off accrued transactions as necessary. > 6. Create a manual journal entry for write-offs. > 7. Process remaining inventory transactions and close the inventory accounting period.
  C. 1. Process remaining inventory transactions and close the inventory accounting period. > 2. Run the Accrual Rebuild Reconciliation report. > 3. Write-off accrued transactions as necessary. > 4. Create a manual journal entry for write-offs. > 5. Review the Uninvoiced Receipts report. > 6. Process period-end accruals. > 7. Close the purchasing period.
  D. 1. Process remaining inventory transactions and close the inventory accounting period. > 2. Review the Uninvoiced Receipts report. > 3. Process period-end accruals. > 4. Close the purchasing period. > 5. Run the Accrual Rebuild Reconciliation report. > 6. Write-off accrued transactions as necessary. > 7. Create a manual journal entry for write-offs.
  A. 1. Review the Uninvoiced Receipts report. > 2. Process period-end accruals. > 3.Close the purchasing period. > 4. Process remaining inventory transactions and close the inventory accounting period. > 5. Run the Accrual Rebuild Reconciliation report. > 6. Write off accrued transactions as necessary. > 7. Create a manual journal entry for write-offs.

• Question 13:

  Which two statements are true about setting up an Approved Supplier List? (Choose two.)

  A. An Approved Supplier List is used only for items and not for services.
  B. A Global Agreement cannot be set up as a source document for a requisition.
  C. A blanket purchase agreement cannot be set up as a source for an item in a purchase order line.
  D. You can get the price breaks to default to a requisition from a quotation or a blanket purchase agreement.
  E. You do not need to set the profile option PO: Automatic Document Sourcing to Yes, in order to get the source document information for a service (as opposed to an inventory item).
  C. A blanket purchase agreement cannot be set up as a source for an item in a purchase order line.
  D. You can get the price breaks to default to a requisition from a quotation or a blanket purchase agreement.

• Question 14:

  The Child Lots check box is enabled at the organization item level. Which two statements are true? (Choose two.)

  A. The lot splitting process is enabled by this feature.
  B. The system would maintain lot genealogy with child and parent lots.
  C. Child lot characteristics are completely different from that of parent lots.
  D. Child lots are unique and independent lots. They are not linked with parent lots.
  E. Short expiry lots are child lots. Child lots generate unique numbers across items.
  F. Child lots are a subdivision of the parent lots and maintain integrity with the parent lots.
  B. The system would maintain lot genealogy with child and parent lots.
  F. Child lots are a subdivision of the parent lots and maintain integrity with the parent lots.

• Question 15:

  Select three true statements regarding the Workflow Document Creation prerequisite (PO Create Documents workflow). (Choose three.)

  A. Catalog quote must not be expired, but may be inactive.
  B. Supplier and supplier site are required on the requisition related to a contract purchase order.
  C. If a system Item is not associated with the requisition line, a supplier item number is required.
  D. Sourcing rules are required If the requisition originates in Oracle Purchasing or {Procurement.
  E. No source document is required for the PO Create Documents workflow to create a release or purchase order.
  F. The only time an approved supplier list is required is if your source document is a blanket purchase agreement and you are using a system item.
  B. Supplier and supplier site are required on the requisition related to a contract purchase order.
  C. If a system Item is not associated with the requisition line, a supplier item number is required.
  F. The only time an approved supplier list is required is if your source document is a blanket purchase agreement and you are using a system item.

• Question 16:

  Which Inventory table stores the item attribute values assigned to a system item?

  A. MTL_SYSTEM_ITEMS_B
  B. MTL_ITEM_ATTRIBUTES
  C. MTL_ITEM_TEMPLATES_B
  D. MTL_STATUS_ATTRIBUTE_VALUES
  A. MTL_SYSTEM_ITEMS_B

• Question 17:

  The technical architecture In Oracle E-Business Suite Release 12 supports the business needs of the application. Select three technical features Included In the technical architecture in Oracle E-Business Suite Release I2. (Choose three)

  A. global
  B. mobile interface
  C. rapid Implementation
  D. Business Intelligence
  E. end-to-end integration
  F. self-service (HTML/JSPs)
  B. mobile interface
  D. Business Intelligence
  F. self-service (HTML/JSPs)

• Question 18:

  A supplier is not required on a _____.

  A. Invoice
  B. Receipt
  C. Quotation
  D. Requisition
  E. Purchase Order
  F. Request For Quotation
  D. Requisition

• Question 19:

  Company X is identifying the major aspects of its inventory organization structure and definitions. Which two actions or statements would be correct? (Choose two.)

  A. An Inventory location can be an Office Site only If it Is also a registered office.
  B. It can consider manufacturing facilities, warehouses, distribution centers, and branch offices, as well as other entities.
  C. It does not need a minimum of two inventory organizations in a master/child relationship, but it is a best practice to do so.
  D. The financial impact of inventory parameters is limited to Purchase Price Variance and Intransit Account for Interorganization shipments and Transfer Credits for the sending organization.
  E. You can control inventory organizations across different operating units from one responsibility but you cannot have ft default to one operating unit. The last used operating unit used before you tog off would default when you log in the next time.
  B. It can consider manufacturing facilities, warehouses, distribution centers, and branch offices, as well as other entities.
  C. It does not need a minimum of two inventory organizations in a master/child relationship, but it is a best practice to do so.

• Question 20:

  The client requires that cycle counts are enterd by the warehouse staff. However, only the warehouse manager can schedule counts, generate count requests, and approve the counts that are out of tolerance.

  What should you consider when setting up the cycle counting process? (Choose three.)

  A. the frequency of the recounts required
  B. the number of automatic recounts required
  C. the tolerance level for automatic adjustment
  D. Modify the workday calendar used by the warehouse.
  E. the responsibility that has access to the Approve Counts function
  F. the number of serial and/or lot controlled items included in the count
  B. the number of automatic recounts required
  C. the tolerance level for automatic adjustment
  E. the responsibility that has access to the Approve Counts function