1Z0-517 | 10 Tips For Renewal 1Z0-517 exam question
Q61. Which three restrictions apply when you are paying invoices with a "quick" payment type? (Choose three.)
A. You can select only those invoices that are due.
B. If you want to pay multiple invoices, none can be a pay-alone invoice.
C. If you want to pay multiple invoices, none can be of an invoice type of prepayment.
D. You can pay only as many invoices as you defined for the remittance advice of the payment document.
E. You can select only those invoices that have the same supplier site as the payment supplier site you enter.
Answer: BDE
Q62. Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night. A descriptive flexfield called SAI Value has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a corresponding user-defined hold called SAI Hold, which is manually applied whenever an invoice is created and the SAI Value has not been provided to Company Z by the supplier. During weekly reviews of accounting, users have found that invoice transactions that are on SAI Hold are displayed in Project Accounting but not in General Ledger. Select what is causing this issue.
A. Invoices have not been validated.
B. The current General Ledger period is closed.
C. The current Project Accounting period is closed.
D. The Payables Accounting process has not been run.
E. Accounting is not being created by the user-defined hold.
F. The descriptive flexfield field must be a required field, and not an optional field.
Answer: E
Q63. Select three invoice types that can be entered ONLY in the Invoice Workbench, and CANNOT be entered via the Invoice Gateway. (Choose three.)
A. debit memos
B. credit memos
C. prepayments
D. PO default invoice
E. PO standard invoice
Answer: ACD
Q64. 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
Answer: C
Q65. Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.
A. a paper check to print and send to a supplier
B. an EFT, EDI, or XML to the bank of a supplier
C. a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier
D. transmission of payment information to an external party, such as your bank, that prints checks on your behalf
Answer: C
Q66. Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of the cost center segment. A business unit is a group of cost centers, and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements?
A. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers; creating FSG based on the rollup groups
B. defining parent cost centers and a hierarchy of parent/child cost centers; creating summary accounts based on the parent cost centers; creating FSG based on the parent cost center values
C. defining parent cost centers and a hierarchy of parent/child cost centers; defining summary accounts for the parent cost centers; creating FSG based on the parent cost center values or summary accounts
D. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts
Answer: D
Q67. E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)
A. Enable "Set as offset tax."
B. Enable "Allow tax recovery."
C. Set the default recovery settlement option to "Deferred."
D. Define tax accounts, tax expense, recoverable tax, and interim tax.
E. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
Answer: BCDE
Q68. The GL accountant has defined the budget and wants the assistant accountants to enter and update the budget. The GL accountant wants this budget to be the default. What would be your response?
A. If the client wants to do this, the budget status must be open.
B. If the client wants to do this, the budget status must be current.
C. The Oracle General Ledger budget functionality cannot satisfy this requirement.
D. If the client wants to do this, customization of Oracle Workflow is the only option.
Answer: B
Q69. What are three prerequisites for interfacing payables invoice lines with Assets? (Choose three.)
A. There are no holds placed on the invoice
B. The invoice must be posted to General Ledger
C. The option ‘Track as Asset’ is selected in the Distributions from when entering an invoice
D. The invoice has been transferred to General Ledger
E. Distribution Account is Asset Clearing or CIP Account
Answer: CDE
Q70. Select three processes that must be performed before closing the purchasing period. (Choose three.)
A. Process period-end receipt accruals.
B. Run the Purchasing Account Analysis Report.
C. Process the remaining inventory transactions.
D. Run and review the Uninvoiced Receipts Report.
E. Run Transfer Journal Entries to the GL program from Receiving.
Answer: ADE