Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 161:

  A user attempted to close the Accounts Receivable accounting period and received an error.

  What could be the cause of the error?

  A. AutoInvoice did not run.

  B. There are lockbox interface errors.

  C. Create Accounting program did not run.

  D. There are existing invoice exceptions.

  E. There are AutoInvoice interface errors.

  F. Invoices are entered but not completed.

  G. General Ledger Journal Import did not run.

  Correct Answer: C

• Question 162:

  You reviewed all the reconciliation reports for month-end close. Identify the correct sequence of actions you would undertake to close the month.

  A. Run Applied Receipts Report, run AR Reconciliation Report, run Journal Import.

  B. Run AR Reconciliation Report, run Sales Journal Report, run Create Accounting Program.

  C. Run Sales Journal Report, run AR to GL Reconciliation Report, run Create Accounting Program.

  D. Run Create Accounting Program, run AR Reconciliation Report, run AR to GL Reconciliation Report.

  Correct Answer: D

• Question 163:

  During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he emails you a checklist of scenarios in which the batches cannot be deleted. Select three scenarios that would be on the checklist.

  (Choose three.)

  A. The source is frozen.

  B. The journal batch has not been posted.

  C. Funds have been reserved for the batch.

  D. The journal batch has not been approved.

  E. Funds are in the process of being reserved for the batch.

  Correct Answer: ACE

• Question 164:

  XYZ Enterprises, a US-based export firm, has two offices in the US (East) and the US (West). They use their primary ledger for their US operations, and an additional ledger for management analysis and reporting. They use five segments for their accounting flexfield: company, department, account, product, and future. Select the minimum number of required flexfield qualifiers that they would be using for the accounting structure. (Choose three.)

  A. Future segment

  B. Product segment

  C. Balancing segment

  D. Cost center segment

  E. Department segment

  F. Management segment

  G. Natural account segment

  Correct Answer: CDG

• Question 165:

  AB Company in the United Kingdom is a subsidiary of ABC Company in the United States. The majority of transactions done by AB Company are entered in GBP. At the end of the year, AB Company restates all its ledgers or balances to report at the headquarters in the US. What is this process called?

  A. Revaluation

  B. Translation

  C. Conversion

  D. Observation

  E. Alteration

  Correct Answer: B

• Question 166:

  Your client wants to import paid invoices from its legacy system to Oracle Receivables. It does not want to post the paid invoices to GL or update the customer balances. How would you import invoices in this scenario?

  A. Create a transaction source and set the status to Inactive.

  B. Create a transaction source with the GL Date in a Closed Period box set to Adjust.

  C. Assign a transaction type with no values for the receivable and revenue accounts.

  D. Assign a transaction type with the Open Receivable and Post to GL boxes deselected.

  Correct Answer: D

• Question 167:

  Invoice batching provides checks and balances that are not available in a single invoice. Choose two reasons why you might want to enter invoices in batches. (Choose two.)

  A. You can print invoices by batch.

  B. Batching provides default values for invoice fields.

  C. You can post invoices to General Ledger by batch.

  D. You can apply cash receipts directly to a batch of invoices.

  Correct Answer: AB

• Question 168:

  After reviewing an incomplete invoice entered last week by her assistant, Jovi clicked the Complete button in the Transactions window. What are three changes this would create in Oracle Receivables? (Choose three.)

  A. This invoice can now be printed.

  B. A dunning letter is now sent to the customer for the invoice amount.

  C. This invoice now becomes eligible to be transferred to General Ledger.

  D. Payment schedules are now created based on the payment terms and invoice date.

  E. The invoice is now included in the standard aging and collection process if the transaction type has open receivables set to No.

  Correct Answer: ACD

• Question 169:

  Select two correct journal types to be used based on the context provided. (Choose two.)

  A. Company E wants to track availability of funds against budgets. Use encumbrance journals.

  B. Company D wants to track availability of funds against budgets. Use budget journals

  C. Company B wants to track floor space and other physical attributes. Use statistical journals.

  D. Company A wants to track floor space and other physical attributes for Mass Allocation. Use encumbrance journals.

  Correct Answer: AC

• Question 170:

  You are setting up Receivable Accounting Events in Subledger Accounting. Identify the Event Entity.

  A. Invoices

  B. Deposits

  C. Guarantees

  D. Transactions

  E. Chargebacks

  Correct Answer: D