1Z0-517 | Most recent 1Z0-517 Exam Study Guides With New Update Exam Questions
Q91. What are the three prerequisites for interfacing Payables invoice lines with Assets? (Choose three.)
A. The invoice has no holds.
B. The invoice must be posted to General Ledger.
C. The invoice has been transferred to General Ledger.
D. The invoice distribution has "Track as Asset" selected.
E. The distribution account is an Asset Clearing or CIP account.
Answer: CDE
Q92. Identify three statements that are true for the automatic withholding tax process. (Choose three.)
A. Withholding tax type distributions are negative amounts.
B. The Withholding tax group can be assigned only to an invoice distribution.
C. Using automatic withholding tax, Payables creates the correct withholding tax distributions.
D. Withholding tax distributions are automatically created during invoice validation or during payment processing.
E. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.
Answer: CDE
Q93. Which three events would cause accounting to be generated when the payables accounting process is run? (Choose three.)
A. Paying an invoice
B. Validating an invoice
C. Entering an purchase order
D. Clearing a payment with Cash Management
E. Delivering goods to a final destination when accruing receipts at period end
Answer: ABD
Q94. Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)
A. ledgers
B. operating units
C. data access sets
D. definition access sets
E. subledger accounting method
Answer: AE
Q95. Your manager has asked you to create a period close process that maximizes the efficiency of your two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently. (Choose two.)
A. Payables and Assets
B. Projects and Payables
C. Inventory and Receivables
D. Payables and Receivables
E. Order Management and Projects
Answer: DE
Q96. Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.)
A. Assigning legal entities to accounting setups is compulsory.
B. After the subledger accounting method is assigned, it cannot be changed.
C. Before completing the accounting setup, secondary ledgers and currency can be deleted.
D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.
Answer: CD
Q97. In the Payment Process Requests, which action(s) can you perform on invoices that are selected for a pay run?
1. Review unselected invoices.
2. Change the invoice amount or the discount taken.
3. Add selected invoices to the payment process request.
4. Remove selected invoices from the payment process request.
5. Recalculate interest, payment withholding, or exchange rates.
A. All actions 1-5.
B. 1, 3 and 4 only.
C. 1, 2 and 5 only.
D. 1, 2, 3 and 4 only.
Answer: B
Q98. The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger. They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes. As an implementation consultant, what one recommendation would you make to meet the above requirement?
A. Create two primary ledgers with the standard cash method.
B. Create two primary ledgers with the standard accrual method.
C. Create a primary ledger with standard cash, and a reporting ledger with standard accrual.
D. Create a primary ledger with the standard accrual method, and a reporting ledger with standard cash.
E. Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.
Answer: E
Q99. Identify two types of inquiries that are possible on ledger sets. (Choose two.)
A. variance inquiry
B. summary template and summary account inquiries
C. a budget balance inquiry to view the budgeted figures
D. an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set
E. an account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set
Answer: DE
Q100. Identify two true statements about using column sets in an FSG report. (Choose two.)
A. Formats can be set for each column.
B. Accounts cannot be assigned to a column set.
C. Calculations can be performed by using columns.
D. The seeded column sets provided must be used.
Answer: AC