1Z0-516 | What 100% Guarantee 1Z0-516 exam question Is?
Q1. ABC.com's global chart of accounts structure includes the Company (balancing) segment and Intercompany segment (with Intercompany segment qualifier) in order to properly identify the intercompany trading party. Which statement is NOT true about using an Intercompany segment in the chart of accounts structure? (Choose the statement that is NOT true.)
A. The Company and Intercompany segments can share the same value set.
B. GL automatically populates the intercompany segment value in the Balancing segment to balance an intercompany journal.
C. You can enable security for the Company segment and disable security for Intercompany segment.
D. If a journal entry is balanced within the same company value in the balancing segment, GL automatically uses the value in the Intercompany segment to create additional journal lines for the trading company.
E. In a many-to-many intercompany journal, the use of a clearing company as the trading partner is possible.
Answer: D
Q2. You have the option to define your own accounting rules in Oracle Subledger Accounting to meet your implementation's business requirements by using ______.
A. AutoCash rule sets
B. Application rule sets
C. The accounting methods builder
D. The Revenue Accounting Management wizard
Answer: C
Q3. During the cutover phase of a project to implement Oracle E-Business Suite Release 12, you are responsible for converting historical account balances into Oracle General Ledger from a legacy system. There is no Account Code Combination setup in the Production Instance. Identify the setup in the Accounting Key Flexfield structure that is required to perform this conversion.
A. Define Value Sets and assign them to Segments.
B. Define Segments in the Accounting Flexfield structure.
C. Qualify one of the Segments as the Balancing Segment.
D. The Key Flexfield Segments have to be enabled and displayed.
E. Select the "Allow Dynamic Inserts" check box in the Accounting Key Flexfield structure.
Answer: E
Q4. The client's GL accountant comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem?
A. The profile option GL: Allow Preparer Approval must be reset.
B. One of the GL account code combinations in the journal is invalid.
C. Authorization limits have not been defined properly and the GL period is closed.
D. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.
Answer: D
Q5. Identify two credit memo options that are available in Oracle Receivables. (Choose two.)
A. Tax only
B. Advance
C. Paid freight
D. Invoice lines
E. Paid amount only
Answer: AD
Q6. Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)
A. have similar ledger processing options
B. open and close periods simultaneously
C. have tax requirements that are specific for a legal entity
D. require autonomous document sequencing for a legal entity
E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes
Answer: ABE
Q7. Identify the two setups that control the defaulting of Tax Information on a journal entry. (Choose two.)
A. Set of Books
B. Journal categories
C. Account
Answer: AC
Q8. ABC.com wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.)
A. Account Analysis
B. On-line Account Inquiry
C. On-line Budget Inquiry
D. Trial Balance
E. Financial Statement Generator
Answer: BE
Q9. ABC.com is implementing Oracle E-Business Suite 11.5.10. It wants to use a global chart of accounts. It has business operations in Canada, the United States, France, and Spain. You are told that both France and Spain require Document Sequencing whereas Canada and the United States do not. There are three legal entities in Canada, four in the United States, two in France, and two in Spain. All legal entities have the same fiscal year end. Advise the DBI Enterprise corporate controller what is feasible, in order to set up the minimum number of set of books, without customization.
A. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Install and set up Global Accounting Engine for Europe.
B. 1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books.
C. 1 set of books for Canada, 1 for the U.S. and 1 for France and 2 for Spain. Install and set up Global Accounting Engine for France and Spain sets of books.
D. 1 set of books for Canada, 1 for the U.S. and 2 for France and 1 for Spain. Enable Document Sequencing for France and Spain sets of books.
E. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Enable Document Sequencing for Europe set of books only.
Answer: B
Q10. ABC.com is a U.S.-based company with business operations in North America and Europe. It has existing Oracle GL sets of books in its single global instance. All sets of books use a global chart of accounts and a common accounting calendar.
It just expanded its business to Australia and acquired two new companies with the same year end as World Inc. It wants to be able to include the new companies in existing financial reports created with Financial Statements Generator (FSG).
How can it easily integrate the two new companies into its existing GL with minimal effort?
A. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD and include the two new companies for FSG reports in USD.
B. Define two new company values, define a new AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.
C. Define the new company values, enable AUD currency and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the two new sets of books into their existing consolidation set of books.
D. Define two new company values, enable AUD currency, and define a new set of books. Translate AUD to USD and include the two new companies for FSG reports in USD.
E. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.
Answer: D