1Z0-520 | All About Top Quality 1Z0-520 exam
Q51. A medium-sized multinational company based in US has two business groups (B6), BGI (for US) and B62 (for Europe), with position approval hierarchies HI and H2, respectively.
The company has a policy that only the Controllers and those above them can approve capital Items on requisitions and purchase orders. However, the Purchase Manager (who reports to the Controller) must also be able to authorize capital purchases.
The account range for capital items is: 2000-2599.
The relevant approval limits are:
1) Purchase Manager in both BGs: $100,000
2) Controller in BGI: $500,000 3) Controller in BG2: $200,000
Which two options represent a valid and efficient approval process? (Choose two.)
A. An employee in B62 raises a requisition for $5000. This is verified by the employee's manager and forwarded to the group Controller in BGI who approves it.
B. An employee in BG2 raises a capital requisition for $250,000, which is verified by the employee's manager and then forwarded to the group Controller in BG2 who approves it.
C. The buyer hi BGI raises a standard purchase order for $250,000 with the charge account 2106. The Purchase Manager verifies it and forwards it to the controller in BGI who approves it.
D. A buyer in BG2 raises a purchase order for $10,000 with charge for inventory items to be stocked in an asset subinventory. The Purchase Manager in BG2 verifies and forwards it to the Controller in BG2.
E. The shop floor supervisor in BGI raises a requisition for a new drilling machine for $250,000. The supervisor's manager (Production Manager) verifies the requisition and forwards it to the Controller in BGI for a final approval.
F. The Purchase Manager in BG2 raises a requisition for $5000 for computer equipment. The Controller in B62 approves it and instructs the buyer to ensure a 2-year warranty on this equipment. The buyer in BG2 places the order on the supplier.
Answer: C,F
Q52. While implementing Oracle Payables, Oracle Purchasing, and Oracle General Ledger at GLO Ltd., you are informed by the accountant that the AP Clearing Account balance Is Increasing daily. To solve this issue, what would you check in the accounting process?
A. whether journals are posted regularly
B. whether suppliers are sequentially numbered
C. whether the month-end accrual process is run
D. whether invoices are matched to purchase orders and receipts
E. whether Oracle Payables transactions are reconciled with Oracle General Ledger
Answer: D
Q53. Receiving Open Interface (ROI) is typically a three-step process. Identify the correct sequence of the steps.
A. Load - Accrue - Process
B. Load - Confirm - Process
C. Receive - Inspect- Deliver
D. Load - Process - Confirm
E. Validate - Confirm - Process
Answer: D
Q54. What is the correct sequence when defining units of measure (UOM)?
A. UOM Class, UOM, UOM Conversions
B. UOM Class, UOM Conversions, UOM
C. UOM Conversions, UOM Class, UOM
D. UOM Conversions, UOM, UOM Class
E. UOM, UOM Class, UOM Conversions
Answer: A
Q55. Identify two statements that are true regarding the defining of your purchasing document approval and routing process. (Choose two.)
A. Pre-Approved documents do not need to be approved by the next approver.
B. Oracle Approvals Management is used to configure Purchase Order approval workflows.
C. When a requisition is approved, the corresponding purchase order does not need to be approved.
D. It is possible to have different approval routing processes for Purchase Requisitions and Internal Requisitions.
E. A planned purchase order and its corresponding planned (scheduled) release can have separate approval limits.
Answer: D,E
Q56. The buyer decides to automatically update and create sourcing rules, as part of the blanket purchase agreement approval process. However, on clicking the Approve button, the buyer does not see any option to update and create blanket purchase sourcing rules.
Which profile option has the buyer failed to set up?
A. PO: Automatic Document Sourcing
B. MRP: Default Sourcing Assignment Set
C. PO: Allow Auto-generate Sourcing Rules
D. PO: Allow Autocreation of Oracle Sourcing Documents
Answer: C
Q57. ACME is implementing Inventory in a make-to-order manufacturing environment, where there is on-hand inventory for 200 different motors. For these purchasable items, given the proper profile setup, Min-max can automatically create .
A. an expense account
B. an encumbrance account
C. an invoice price variance account
D. an inventory Accounts Payable accrual account
E. records in the Purchase Order Requisition interface table
Answer: E
Q58. Which three processes would help analyze supplier information before defining a new supplier record? (Choose three.)
A. Submit and review the Suppliers Report.
B. Submit and review the Suppliers Audit Report. C. Perform a Find or Query on the Supplier name. D. Submit and review the Suppliers On Hold report.
E. Submit and review Purchase Price Variance report.
F. Submit and review the Purchasing Activity Register report.
G. Submit and review Open Purchase Orders By Buyer report.
Answer: A,B,C
Q59. Which four are supported by the Receiving Open Interface (ROI)? (Choose four.)
A. Unordered receipt
B. Dynamic locators
C. Deliver transactions
D. Movement statistics
E. Correct transactions
F. Receive transactions
G. Transfer transactions
Answer: C,E,F,G
Q60. What are the prerequisites for performing an accurate ABC Compile for inventory items using the Current on-hand value as the compile criterion?
A. items costed only
B. items with on-hand quantity only
C. either items with on-hand quantity or items costed
D. Both items with on-hand quantity and items costed
Answer: D