1Z0-517 | Virtual Oracle 1Z0-517 exam question


Q71. Identify four functions of the Invoice Validation process. (Choose four.)

A. applying any required holds

B. releasing any qualifying holds

C. applying all prepayments and discounts

D. validating the General Ledger accounting information

E. validating and creating accounting entries for the invoice

F. ensuring that the total amount of all distributions equals the invoice total

G. creating an additional distribution for any difference between the total amount of all distributions and the invoice total

Answer: ABDF

Q72. 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

Q73. Select three levels where additional reporting currency representations can be maintained. (Choose three.)

A. batch

B. journal

C. balance

D. subledger

Answer: BCD

Q74. Identify three statements that are true for E-Business Tax. (Choose three.)

A. E-Business Tax transactions are strictly controlled and cannot be changed.

B. E-Business Tax provides seeded tax registration types for local organizations.

C. E-Business Tax provides a single point solution for managing your transaction-based tax requirements.

D. E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation.

E. E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface.

Answer: CDE

Q75. From which three areas do the defaults come when you enter a supplier? (Choose three.)

A. Items

B. Operating Unit

C. Financial Options

D. Payables Options

E. Receiving Options

Answer: CDE

Q76. Client A has three legacy systems that contain this financial information: purchase orders, suppliers, receipts, invoices, accruals, and expense reports. The client must have much of this information loaded into Oracle Accounts Payable daily until they can effectively retire these three systems. Identify the best approach that involves minimal customization.

A. Develop custom interfaces for receipts and accruals, and use the invoice import process to bring in other information.

B. Use Invoice Import to bring in invoice and invoice accrual information. The rest requires custom interfaces to be developed.

C. Use Invoice Gateway to bring in invoice information, and Supplier Import for suppliers. The rest requires custom interfaces to be developed.

D. Use Invoice Import to bring in all the above information after setting the correct profile options and defining the appropriate AP and non-AP transaction sources. No custom interfaces are needed.

E. Use Invoice Gateway to bring in the invoice, invoice accrual, and expense report information;and Supplier Import to bring in supplier information. The rest requires custom interfaces to be developed.

Answer: A

Q77. XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant. Select three steps that are required for creating a new accounting structure. (Choose three.)

A. Define jurisdictions.

B. Define period types.

C. Assign legal entities.

D. Save the accounting structure.

E. Define accounting representations.

F. Define subledger accounting methods.

Answer: CDE

Q78. ABC.com wants to provide transparency in its Accounts Payable (AP) operations to its counterparts within the purchasing, Fixed Assets and General Ledger departments. Several complaints have surfaced regarding issues with IP process times and help up payments. The AP department must strictly adhere to accounting regulations about segregating job functions while trying to meet this requirement. Which task should be performed to make this possible?

A. Give access to all AIP forms and reports

B. Give AP inquiry-only access, only though Oracle responsibilities

C. Implement a Web-based version of Oracle AP that allows Web viewing of AP information

D. Create custom inquiry forms for them to view invoices and payments but not supplier information

E. Change the profile options to allow unrestricted viewing of the AP data in PO and GL so that the staff from these other areas do not have to log in to AP

Answer: B

Q79. You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust _____.

A. the number of invoice lines

B. the total header invoice amount

C. the amount of another distribution

D. the self assessed taxes in the Tax Details window

Answer: C

Q80. You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside the system, but your client does not want to manually record them because that would be time consuming. Choose the best solution.

A. Create electronic payment batches by using a check payment method for those multiple suppliers, and destroy those checks.

B. Create electronic payment batches by using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.

C. Create electronic payment batches by using a clearing payment method for those multiple suppliers because this payment method does not generate a file.

D. Create electronic payment batches by using an electronic payment method such as EFT for those multiple suppliers, and then do not send the resulting electronic file to the bank.

Answer: B