Tips to Pass 1Z0-516 Exam (231 to 240)

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Exam Number/Code: 1Z0-516
Exam name: Oracle EBS R12.1 General Ledger Essentials
n questions with full explanations
Certification: Oracle Certification
Last updated on Global synchronizing

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2016 Jul 1Z0-516 exam question

Q231. 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. 

Answer: CDE

Q232. How many data source views can you register for the Lines data source in Bill Presentment Architecture? 

A. Five 

B. One 

C. Nine 

D. Seven 

Answer: B

Q233. For which two business reasons would you use reporting hierarchies instead of summary accounts? (Choose two.) 

A. The primary use for summarization is only for reports. 

B. You want to use summarized data in journal formulas. 

C. Summary relationships are not permanent. 

D. You want online inquiry of summary amounts. 

E. You want to easily reorganize summary views in the future. 

Answer: AE

Q234. Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.) 

A. It is an integrated extension of a ledger. 

B. It replaces multiple reporting currencies. 

C. Reporting currencies are the same as secondary ledgers. 

D. Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options. 

Answer: AB

Q235. Your customer ABC Inc., has headquarters in San Diego, CaliforniA. The billing function is performed in St. Louis, Missouri. It has a plant in Baltimore, Maryland, a warehouse in Richmond, Virginia, and an assembly line in Nashville, Tennesse. John Thomas, plant supervisor at Baltimore, orders equipment from you to be shipped to the assembly line in Nashville. Later, the assembly line in Nashville will send the equipment to the warehouse in Richmond. Identify the state sales tax to apply to this invoice. 

A. Virginia 

B. Missouri 

C. Maryland 

D. California 

E. Tennessee 

Answer: E


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Q236. You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements: 

1. They want to be able to pay only certain types of suppliers by batch. 

2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention. 

3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued. 

To meet the above requirements, you perform these steps: 

a) Set up suppliers with pay groups for each type, and use them when running the payment batch. 

b) Set up the payment batch with Maximum Outlay equal to $100,000 USD. 

c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD. Which requirements have you met? 

A. 2 and 3 

B. 1, 2 and 3 

C. 1 and 2 

D. 1 and 3 

Answer: D

Q237. XYZ Corporation is headquartered in Dubai with a branch in Kuwait. Dubai uses a weekly calendar and Kuwait uses a monthly calendar. The plan is to close the Kuwait operations and open a new branch in Bangalore. The Kuwait secondary ledger will be deleted and the new Bangalore secondary ledger will be added. Bangalore will use a different chart of accounts from that of Dubai and will use a weekly calendar. Select two valid statements. (Choose two.) 

A. There is no mapping required from the Dubai ledger to the Bangalore ledger. 

B. After adding the Dubai ledger, the ledger options step must be completed. 

C. Deleting the Kuwait ledger is possible after the accounting setup of the Dubai ledger is complete. 

D. If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal entries. 

Answer: BD

Q238. Your client is using Oracle Trading Community Architecture (TCA) relationship manager to create and manage relationships among parties. However, your client is having difficulty understanding circular relationship types. Select two examples of circular relationships. (Choose two.) 

A. Company H is an affiliate of company G. 

B. Company A is the parent company of company B and company C. 

C. Company J is a subsidiary of company K and company L is a division of company K. 

D. Company M is a shareholder of company N and company N is a shareholder of company P. 

E. Company D is a competitor of company E, which is a competitor of company F, which in turn is a competitor of company D. 

Answer: AE

Q239. Identify three setup options that are defined in the Financial Options window. (Choose three.) 

A. interest 

B. retainage 

C. miscellaneous 

D. expenses clearing 

E. expense AP accrual account 

Answer: BCD

Q240. After discussions with the client, the implementation team decides that the GL Autoallocation functionality would help satisfy the clients requirements to automatically allocate the rent and other expenses to all the departments based on the defined formula. The GL accountant comes to you with a requirement that the approver of the journal should be automatically informed once the journal is generated. What is your response? 

A. Cross-validation rules must be defined to satisfy this requirement. 

B. Dynamic Insert must be enabled to satisfy this requirement. 

C. Autoallocation uses Workflow, so there is no problem in satisfying this requirement. 

D. It is not possible to satisfy this requirement. 

Answer: C

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