Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 31:

  Identify two features of Oracle Workflow in Oracle E-Business Suite Release 12. (Choose two.)

  A. enhances data security

  B. helps you focus on managing individual business transactions

  C. has each activity in a workflow as a PL/SQL function or a notification or a subprocess

  D. can integrate business functions only between business processes within a single company

  E. can integrate business processes within an enterprise, as well as between different organizations and different systems

  Correct Answer: CE

• Question 32:

  Jack is hired as an Oracle General Ledger Implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.)

  A. key flexfields

  B. Journal Sources form

  C. Journal Categories form

  D. Journal Encumbrance Types form

  E. Journal approval on the Ledger Setup page

  Correct Answer: BE

• Question 33:

  Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

  A. have similar ledger processing options

  B. open and close periods simultaneously

  C. have tax requirements that are specific for a legal entity

  D. require autonomous document sequencing for a legal entity

  E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

  Correct Answer: ABE

• Question 34:

  The company's 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.

  Correct Answer: A

• Question 35:

  John has created two ledgers: one primary and one secondary. The primary ledger stores transactional data and the secondary ledger stores only adjustments. The secondary ledger shares the same chart of accounts, accounting calendar or period-type combination, and currency as the associated primary ledger.

  John wants to obtain a complete accounting representation that includes both transactional data and adjustments while running reports. Identify the best option.

  A. Merge the primary ledger and the secondary ledger, and run reports.

  B. Transfer adjustment data from the secondary ledger to the primary ledger while running reports.

  C. Transfer transactional data from the primary ledger to the secondary ledger while running reports.

  D. Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger when running reports.

  Correct Answer: D

• Question 36:

  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.

  Correct Answer: E

• Question 37:

  ABC Inc.'s calendar is the fiscal year. They also use Average Balance Processing.

  ABC's accrual category is defined with AutoReversal, with the reversal period as the next day, and an

  effective date rule of roll.

  An accrual journal entered on 29-Apr-05 will be reversed on the __________.

  A. first day of the next period

  B. next day in the same period

  C. next business day in the same period

  D. next business day in the same period or the next period, based on the transaction calendar

  Correct Answer: D

• Question 38:

  You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes.

  They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements.

  Choose two statements that are true in the given scenario. (Choose two.)

  A. The secondary ledger contains day-to-day transactions.

  B. The primary ledger must contain only management adjustments.

  C. The secondary ledger represents the complete management picture.

  D. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.

  E. Use ledger sets to combine primary and secondary ledgers to get the complete management picture.

  Correct Answer: DE

• Question 39:

  Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board or directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year.

  Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.)

  A. Define accounts for realized gains and realized losses.

  B. Define accounts for unrealized gains and unrealized losses.

  C. Define the weights for each currency used for doing transactions.

  D. Define a batch under which the revaluation journals would be stored.

  E. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.

  Correct Answer: BE

• Question 40:

  XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments.

  All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained.

  Identify the number of legal entities to be created and the number of accounting setups.

  A. Create one legal entity and four accounting setups.

  B. Create four legal entities and one accounting setup.

  C. Create two legal entities and four accounting setups.

  D. Create four legal entities and four accounting setups.

  Correct Answer: D