Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 181:

  You have transferred, closed, and reconciled all subledgers. The sales manager informs you about a

  material transaction that was completed on the last business day of the closing period.

  Select the best option in this situation.

  A. Ignoring the transaction in the current period

  B. Opening the subledger to enter the transaction

  C. Reversing the prior postings and retransferring data from the subledgers

  D. Recording a manual accrual journal in the current period and reversing the journal in the next period

  Correct Answer: D

• Question 182:

  When you assign a template to a rule in Bill Presentment Architecture, you enter a range of ___.

  A. Data sources

  B. Transaction types

  C. Transaction dates

  D. Customer accounts

  Correct Answer: C

• Question 183:

  Ten analysts are assigned the same Receivables responsibility and are given their own logins.

  The requirement is to restrict three of the analysts from creating chargebacks or adjustments.

  What would be your advice to ensure compliance with this internal control?

  A. Use forms personalization to restrict function access.

  B. Set the "AR: Cash - Allow Actions" system profile to no at the responsibility level.

  C. Set the "AR: Cash - Allow Actions" system profile to no at the user level for the three analysts.

  D. Set the "AR: Cash - Allow Actions" system profile to yes at the user level for the three analysts.

  E. Set the "AR: Cash - Allow Actions" system profile to yes at the application level for the three analysts.

  Correct Answer: C

• Question 184:

  All receipts that fail validation during AutoLockbox processing remain in the _____ table.

  A. AR_PAYMENT_SCHEDULE

  B. AR_PAYMENTS_INTERFACE_ALL

  C. AR_INTERIM_CASH_RECEIPTS_ALL

  D. AR_INTERIM_CASH_RCPT_LINES_ALL

  Correct Answer: B

• Question 185:

  Which three statements are true about accounting rules? (Choose three.)

  A. Accounting rules enable you to defer revenue.

  B. Accounting rules enable you to define fixed and variable rules to recognize revenue.

  C. Accounting rules enable you to define the number of periods and percentage of total revenue that you can record in each accounting period.

  D. Accounting rules enable you to define the number of periods and amount of invoice that you can bill your customer in each accounting period.

  Correct Answer: ABC

• Question 186:

  The GL accountant tells you that he has defined two budgets. After selecting the budget organization in the Enter Budget Amounts form, he can select only one budget from the list of values (LOV). What would be your response?

  A. The budget status is current.

  B. The last fiscal year of the budget is closed.

  C. The first fiscal year of the budget was never opened.

  D. Accounts must be reassigned to the budget organization.

  Correct Answer: C

• Question 187:

  There are several setup steps for receipts in Oracle Receivables; some are required whereas others are optional. Which two setup steps are optional? (Choose two.)

  A. Define receipt classes.

  B. Define receipt methods.

  C. Define receipt sources.

  D. Define AutoCash rule sets.

  E. Define application rule sets.

  Correct Answer: DE

• Question 188:

  Your client has requested that you set up gapless numbering for its invoices. In your testing, you realized that the numbers for deleted invoices were missing from the sequence. How would you prevent that problem?

  A. Reuse deleted invoice numbers.

  B. Do not allow deletion of invoices.

  C. Create a custom report listing deleted invoice numbers.

  D. Select Show Deleted Invoice Numbers in your system options.

  Correct Answer: B

• Question 189:

  ABC Enterprise closes its books on March 31st. These activities have been identified to be performed for the closure of books.

  1) post 2) translate 3) review 4) consolidate 5) revalue 6) run accounting reports 7) close accounting period

  In which order must these activities be performed?

  A. 1, 3, 5, 2, 4, 6, 7

  B. 5, 2, 3, 1, 7, 4, 6

  C. 1, 5, 2, 3, 4, 7, 6

  D. 1, 3, 2, 5, 7, 4, 6

  Correct Answer: A

• Question 190:

  Computer Operations Inc. has its headquarters in Frankfurt. It uses two ledgers: one for corporate accounting (primary) and another for statutory reporting (secondary). Both ledgers have different charts of accounts and accounting calendars but use EUR as the functional currency. It has a subsidiary in California, which uses its own chart of accounts and the USD currency. Identify two options by which Computer Operations Inc. can consolidate their global operations. (Choose two.)

  A. A secondary ledger must be defined for California.

  B. Consolidation can be done by mapping between the California secondary ledger and the Frankfurt secondary ledger.

  C. A new ledger set must be defined, which will group the Frankfurt primary ledger and the California secondary ledger.

  D. The chart of accounts and calendar of the Frankfurt secondary ledger must be the same as that of the California secondary ledger.

  Correct Answer: AC