1Z0-516 | All About Real 1Z0-516 practice test
Q171. You are defining the Invoice Descriptive Flexfield (DFF) in Oracle Payables, and a warning message appears during DFF compilation. What is this warning message?
A. There is no context defined in the DFF.
B. The DFF does not contain a Reference field.
C. There is no segment defined in the DFF structure.
D. The DFF uses features that are supported only in Oracle Forms.
E. The "Synchronize with Reference Field" check box is not enabled.
Answer: D
Q172. ABC Corp. has the following Organization Structure:
1) Legal Entity: A
2) Operating Units: B and C
3) Balancing Entities: 10, 20, and 30
Identify three correct statements regarding the Balancing Entity. (Choose three.)
A. Each Balancing Entity must balance within itself.
B. There can be multiple Balancing Entities within an Operating Unit.
C. Balancing Entity is the lowest postable unit in the Chart of Accounts.
D. Balancing Entities can be automatically secured at the Legal Entity level.
E. Balancing Entities can be secured at the Operating Unit level through Security Rules.
Answer: ABE
Q173. Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)
A. Create aliases.
B. Define a value set.
C. Define security rules.
D. Define an account structure.
E. Define valid segment values.
F. Create account combinations.
Answer: BDE
Q174. Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.)
A. Trial Balance - Detail
B. Account Analysis
C. Other - Calendar Validation Report
D. Chart of Accounts - Segment Values Listing
E. Currency - Daily Conversion Rates Listing
Answer: AB
Q175. 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
Q176. What are three benefits of using the Journals Import: Group By Effective Date profile option? (Choose three.)
A. Facilitate more transparent exchange rate conversions.
B. Facilitate consolidation.
C. Make daily updates to daily business intelligence.
D. Account for business transactions by effective date or by accounting date.
E. facilitates financial auditing and compliance with the new Sabanes-Oxley Act
Answer: CDE
Q177. ABC.com, the GL accountant comes to you and says that the Accounting Department requires two current budgets, as they work with two senior executives within the company who have different budget figures, and Tess has to prepare and submit budgets to both of them. What is your response?
A. It depends on the budget organization, whether you can have multiple current budgets.
B. The profile option Require Budget Journal should be set at the budget level if you want to have multiple current budgets.
C. Oracle GL budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.
D. The profile option Require Budget Journal should be set at the set of books level if you want to have multiple current budgets.
E. It is not possible to have more than one current budget.
Answer: E
Q178. The manual payment method is best described as the method of _____.
A. paying multiple checks in a pay run
B. paying a single check within Payables
C. manually writing a check outside of Payables
D. recording a payment made outside of Payables
Answer: D
Q179. Select three features of Oracle E-Business Suite Release 12 that leverage investment in technology. (Choose three.)
A. Oracle E-Business Suite Release 12 is engineered to work as an integrated system on a common IT infrastructure.
B. Oracle E-Business Suite Release 12 open standards-based architecture supports integration with non-Oracle applications.
C. Technology support to use SQL*Plus, Oracle Data Browser, database triggers, and other tools to modify Oracle Applications data is recommended.
D. Oracle E-Business Suite Release 12 has the functionality to track who has made changes to your information when the changes are made using database tools.
E. Support for internal Oracle E-Business Suite Release 12 processes extends beyond enterprise boundaries to include customers, suppliers, and other trading partners.
Answer: ABE
Q180. You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. John, a junior consultant helping you in the implementation effort, comes to you and says that he is testing the system and entering journals in US dollars, yen and euros. He says that he is able to enter the journals in US dollars and euros, but cannot enter the journals in Japanese yen. What possible explanation can you provide to John for this?
A. Workflow needs to be customized for journals to be entered in yen.
B. Yen currency has not been enabled.
C. Daily rates have not been entered for yen.
D. Rate types have not been defined for yen.
Answer: B