Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 171:

  Identify three setups in Oracle Receivables that control how discounts are calculated. (Choose three.)

  A. Profile options

  B. Payment terms

  C. System options

  D. Receipt classes

  E. Customer profiles

  Correct Answer: BCE

• Question 172:

  Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)

  A. Create aliases.

  B. Define a value set.

  C. Define security rules.

  D. Define an account structure.

  E. Define valid segment values.

  F. Create account combinations.

  Correct Answer: BDE

• Question 173:

  There are three invoice correction methods: underinvoicing, overinvoicing, and invalid transactions. Which option lists all the correct underinvoicing choices?

  A. Void, delete

  B. Void, delete, re-create invoice

  C. Update invoice, create a debit memo, perform an adjustment

  D. Update invoice, create a credit memo, create an on-account credit memo, perform an adjustment, refund

  Correct Answer: C

• Question 174:

  After creating a number of Financial Statement Generator reports, ABC Company wants a list of the definitions for one specific account. Identify the report that would provide this information.

  A. FSG Attribute Listing

  B. FSG Where Used Report

  C. FSG Report Detail Listing

  D. FSG Content Set Detail Listing

  E. FSG Content Summary Listing

  Correct Answer: B

• Question 175:

  AutoInvoice does not import Receivables invoices from the interfaces. Identify two reasons that can cause AutoInvoice to fail. (Choose two.)

  A. AutoCash rule set is not defined.

  B. Sold To Customer is validated by ID.

  C. Default Remit-to address is not defined.

  D. Receivables adjustment activities are not defined.

  E. Transaction General Ledger date is in a closed period.

  Correct Answer: CE

• Question 176:

  Which four transaction types or activities are affected by the "AR : Disable Receivable Activity

  Balancing Segment" profile option? (Choose four.)

  A. Invoices

  B. Adjustments

  C. Late charges

  D. Debit memos

  E. Credit memos

  F. Discounts (both earned and unearned)

  G. Activity applications (such as receipt write-off, short-term debt, and claims investigation)

  Correct Answer: BCFG

• Question 177:

  Identify four steps involved in the setup for late charges. (Choose four.)

  A. Assigning different policies to your customers

  B. Indicating by transaction type if a late charge policy is enforced

  C. Enabling late charges in the Receivables System Options form

  D. Enabling late charges in the System Profiles form at the user level

  E. Deriving accounting from transaction type when late charges are in adjustment format

  F. Indicating if a specific invoice should be exempt from late charges at the transaction level

  Correct Answer: ABCF

• Question 178:

  Select four mandatory requirements for creating ledgers in Oracle General Ledger. (Choose four.)

  A. Currency

  B. Period types

  C. Operating units

  D. Chart of accounts

  E. Accounting method

  F. Accounting calendar

  Correct Answer: ADEF

• Question 179:

  When you enter a journal, the journals in that batch _____.

  A. Must share the same period

  B. Must share the same currency

  C. Must share the same accounting date

  D. Must share both the same period and currency

  E. Can have different periods, currencies, and accounting dates

  Correct Answer: A

• Question 180:

  Your client has set up Oracle Lease Management (OKL) and Oracle Credit Management (OCM) without scoring models. Which three tasks can be successfully completed by Oracle Workflow in OCM without manual intervention? (Choose three.)

  A. Creating a case folder

  B. Calculating a credit score

  C. Creating a credit application

  D. Creating a final credit recommendation

  E. Sending notifications to the credit scheduler

  Correct Answer: ACE