1Z0-517 | how many questions of 1Z0-517 practice test?
Q131. Multiple Reporting Currencies (MRC) has been enabled for your client Company A. Which method would you recommended to your client for transferring accounting entries to GL using the payables transfer to GL process?
A. Transfer to GL with journal import for the primary set of Books. Repeat the process for each Reporting set of books individually
B. Transfer to GL with Journal import for the primary set of books and all associated Reporting sets of books together
C. Transfer to GL without journal import for the primary set of books. Submit journal import for the primary set of books. Repeat these steps for each reporting set of books
D. Transfer to GL without journal import for the primary set of books and all associated reporting sets of books together. Submit Journal import from GL for the primary set of books and all associated reporting books together
Answer: B
Q132. 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
Q133. Payables leverages E-Business Tax to set up, calculate, and manage transaction taxes, such as Sales, VAT and Offset taxes. Which two taxes are NOT calculated and managed by Payables? (Choose two.)
A. excise
B. property
C. customs duty
D. vehicle license
E. recoverable tax
Answer: BD
Q134. Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the parent segment values while defining the MassAllocation formula. What would be your response?
A. Whether you can do this depends on the formula.
B. You can customize the workflow and then do this.
C. Whether you can do this depends on the responsibility.
D. You can do this only if Allow Dynamic Insert is enabled.
E. You can do this only if there is a summary account associated with the parent.
Answer: E
Q135. Exhibit:
ABC.com has the following requirements:
1. Asset invoices are entered in AP daily, but assets are transferred to Oracle Assets only once a week
2. Payables Journal entries have to be transferred to GL at least once a month for reporting purposes
3. Oracle Projects balances have to be updated once every monthÂ
4. Payment batches need to be processed daily
Based on the above what would be the minimum recommended frequency of running the Transfer to GL program?
A. Daily
B. Weekly
C. Monthly
D. Once very two weeks
Answer: B
Q136. Choose three required steps while performing the accounting setup in the Accounting Setup Manager. (Choose three.)
A. Define operating units.
B. Update accounting options.
C. Complete the accounting setup.
D. Define intercompany balancing rules.
E. Create the accounting setup structure.
F. Assign balancing segment values to legal entities.
Answer: BCE
Q137. ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations have separate legal and statutory requirements. The tax requirements also differ for each country. Identify the action you would perform to set up Oracle General Ledger.
A. Create a separate legal entity and accounting setup for each operation.
B. Create one legal entity and three accounting setups for the US, France, and Italy.
C. Create three legal entities for the US, France, and Italy, and one accounting setup.
D. Create three legal entities for each operation. Create one accounting setup for France and Italy, and one for the US.
E. Create two legal entities: one for France and Italy, and one for the US. Create two accounting setups: one for France and Italy, and one for the US.
Answer: A
Q138. The companys two senior executives have different budget figures. They want Peter, the GL accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them. What would be your response?
A. It is not possible to have more than one current budget.
B. Whether you can have multiple current budgets depends on the budget organization.
C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
D. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
E. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.
Answer: A
Q139. When reconciling Payables and Cash Management, you may encounter clearing restrictions. Here are three clearing restrictions for Cash Management.
1. Oracle Cash Management cannot clear bills payable that have a status of _____.
2. Oracle Cash Management clears bills payable only if the payment status is _____.
3. On or after the maturity date of the payment, you can update the status to _____.
Identify the one status for the second clearing restriction.
A. issued
B. negotiable
C. reconciled
Answer: B
Q140. There are five major business functions that occur sequentially during the natural flow of the Payables processes. Consider this list of five steps:
1. Invoice Payment
2. Invoice Validation
3. Invoice and Payment Accounting
4. Supplier Entry
5. Invoice Import/Entry
What is the order in which these steps must be performed?
A. 1, 2, 3, 4, 5
B. 4, 5, 2, 1, 3
C. 5, 3, 1, 2, 4
D. 3, 1, 4, 2, 5
E. 4, 2, 5, 1, 3
Answer: B