Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 151:

  Which three payment terms validations are performed by AutoInvoice for imported balance forward billing (BFB) transactions? (Choose three.)

  A. The transaction is stamped with legal entity information.

  B. All transactions are batched by batch source name and request ID.

  C. Transactions with balance forward billing payment terms having the external billing cycle have a billing date.

  D. Transactions with balance forward billing payment terms have balance forward billing enabled at the account and site profiles.

  E. Transactions with nonbalance forward billing payment terms for balance forward customers have the override terms check box selected.

  Correct Answer: CDE

• Question 152:

  Which three statements are true about AutoInvoice? (Choose three.)

  A. It determines the General Ledger (GL) accounts by using AutoAccounting.

  B. It imports invoices that have only transaction types that are of the "imported" transaction class.

  C. It determines the GL accounts from the rows in the RA_INTERFACE_DISTRIBUTIONS_ALL table.

  D. It determines whether the invoices should have open or closed status on the basis of the line amounts.

  E. It uses the AutoInvoice clearing account if it cannot determine the Receivables account by using AutoAccounting.

  F. It uses the AutoInvoice clearing account if the price multiplied by quantity does not equal the total amount for a line.

  Correct Answer: ACF

• Question 153:

  After registering new data sources, you must complete your Bill Presentment Architecture by creating database views. How many database views can you create for each data source?

  A. One

  B. Nine

  C. Three

  D. Unlimited

  Correct Answer: D

• Question 154:

  Your client has requested that you set up a relationship type that would allow any party within the relationship to pay for the accounts of any other party. Identify the relationship group that you would assign your relationship type to, in order to accomplish this.

  A. Pay all

  B. Pay within

  C. Pay below

  D. Pay parties

  Correct Answer: B

• Question 155:

  Select two correct statements for the management segment qualifier in Oracle General Ledger.

  (Choose two.)

  A. The management segment can be a balancing segment.

  B. The management segment can be a natural account segment.

  C. The management segment cannot be an intercompany segment.

  D. This segment qualifier is used for management reporting and analysis.

  E. Data access sets cannot limit access to specific management segment values.

  Correct Answer: CD

• Question 156:

  Which two statements are true about invoicing rules and accounting rules? (Choose two.)

  A. If a transaction has an invoicing rule, an accounting rule is optional.

  B. If a transaction has an invoicing rule, an accounting rule is not allowed.

  C. If a transaction has an invoicing rule, an accounting rule is also required.

  D. Invoicing rules and accounting rules have no effect until invoices are paid.

  E. Invoicing rules and accounting rules have no effect unless you choose the accrual method of accounting.

  F. Invoicing rules determine when invoices are due. Accounting rules affect how invoices are accounted for.

  Correct Answer: CE

• Question 157:

  Oracle Credit Management (OCM) uses lookups to help speed up data entry and increase accuracy. Select two required lookups used by OCM. (Choose two.)

  A. Risk code

  B. Credit rating

  C. Payment terms

  D. Credit review type

  E. Credit classification

  Correct Answer: DE

• Question 158:

  Your client occasionally charges sales tax erroneously to some customers. The client's current process involves manually issuing a credit memo to correct the customer's account. Customers routinely deduct the sales tax from the invoice before paying. Identify two steps that can help simplify the clients current process. (Choose two.)

  A. Set up AutoAccounting.

  B. Set up adjustment approval limits.

  C. Set up transaction type for tax adjustment.

  D. Select the TAX: Allow Override of Tax Code profile option.

  E. Define receivables activity of adjustment with tax accounting distribution.

  F. Define receivables activity of miscellaneous cash with tax accounting distribution.

  Correct Answer: BE

• Question 159:

  Which is the correct sequence of steps in planning your summary accounts?

  (1)

  planning the summary account structure

  (2)

  planning the parent segment values and rollup groups needed for summary accounts

  (3)

  determining summary account needs

  (4)

  planning summary account templates to generate multiple summary accounts

  A.

  2, 3, 1, 4

  B.

  3, 1, 2, 4

  C.

  1, 2, 3, 4

  D.

  2, 1, 3, 4

  Correct Answer: B

• Question 160:

  To properly associate one transaction type with another in Receivables, you have to define transaction types in a specific order. Identify the correct order.

  A. Invoice, credit memo, debit memo

  B. Invoice, debit memo, credit memo

  C. Credit memo, invoice, debit memo

  D. Credit memo, debit memo, invoice

  E. Debit memo, invoice, credit memo

  F. Debit memo, credit memo, invoice

  Correct Answer: C