How to pass Oracle 1Z0-516 Real Exam in 24 Hours [test preparation 401-410]

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Product Description:
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 Aug 1Z0-516 test engine

Q401. Identify three statements that properly describe the use of distribution sets. (Choose three.) 

A. Assign a distribution set to an invoice when you enter it. 

B. Use full distribution sets to create distributions with no set percentage amounts. 

C. Use skeleton distribution sets to create distributions with set distribution amounts. 

D. Assign a default distribution set to a supplier site, so Payables will use it for every invoice you enter for that supplier site. 

E. Use a distribution set to enter distributions for an invoice automatically when you are not matching it to a purchase order. 

Answer: ADE

Q402. For transaction-related activities such as adjustments and discounts, Receivables derives the balancing segment value from the _____ account that is associated with the transaction. 

A. Revenue 

B. Receivables 

C. Unapplied cash 

D. Unearned revenue 

E. Unbilled receivables 

F. Earned and unearned discounts 

Answer: B

Q403. The end users at Lucy Ltd. noticed several AutoInvoice exceptions and requested your help in correcting them. Which window allows you to edit data? 

A. Line Errors window 

B. Interface Lines window 

C. Interface Exceptions window 

D. Interface Corrections window 

Answer: B

Q404. You have logged in to the Oracle E-Business Suite Release 12 instance and accessed your worklist. You see four FYI notifications in your default Worklist view. You opened the first notification and clicked the "OK" button after reviewing the content. Identify three things that can happen after you return to your worklist. (Choose three.) 

A. You see four notifications in your worklist. 

B. You see three notifications in your worklist. 

C. Status of the first notification has been updated to "Delete." 

D. Status of the first notification has been updated to "Closed." 

E. You can view the first notification by choosing the "All Notifications" view from your worklist. 

F. You can view the first notification by choosing the "FYI Notifications" view from your worklist. 

Answer: BDE

Q405. Which subledger transfers journal information directly to General Ledger to create an unposted journal entry? 

A. Inventory 

B. Payables 

C. Purchasing 

D. Receivables 

E. Assets 

Answer: E


Replace 1Z0-516 exam question:

Q406. ABC Company wants to compare consolidated actuals against consolidated budgeted amounts. Identify the two steps that must be performed to provide ABC Company with this information. (Choose two.) 

A. Run the Trial Balance report. 

B. Execute an online budget inquiry. 

C. Execute an online account inquiry. 

D. Review the Account Analysis report. 

E. Run financial statement generator reports. 

Answer: CE

Q407. Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.) 

A. Assigning legal entities to accounting setups is compulsory. 

B. After the subledger accounting method is assigned, it cannot be changed. 

C. Before completing the accounting setup, secondary ledgers and currency can be deleted. 

D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined. 

Answer: CD

Q408. Identify two correct statements about Oracle Receivables. (Choose two.) 

A. AutoAccounting is only used for the imported transactions. 

B. Errors in the AutoInvoice are sent to the Interface Exceptions table. 

C. Receivables transactions cannot be changed after they are printed. 

D. Receipt accounting can be transferred after the receipts are entered and saved. 

E. Transfer to General Ledger can transfer transaction accounting entries after the transactions are entered and saved. 

Answer: BD

Q409. Which two statements are true regarding error handling in Oracle Workflow? (Choose two.) 

A. Workflow Engine captures errors. 

B. Workflow Manager captures errors. 

C. Default error handling is provided for subscription processing. 

D. Workflow Manager places errored events on the WF_ERROR queue. 

E. Notification System initiates the default error process after an error is reported. 

Answer: AC

Q410. Select four mandatory requirements for creating ledgers in Oracle General Ledger. (Choose four.) 

A. Currency 

B. Period types 

C. Operating units 

D. Chart of accounts 

E. Accounting method 

F. Accounting calendar 

Answer: ADEF

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