Oracle Oracle Certifications 1Z0-516 Questions & Answers

• Question 41:

  For each subledger, there must be one ___________.

  A. journal type

  B. account type

  C. journal source

  D. journal category

  Correct Answer: C

• Question 42:

  Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)

  A. Attach the fiscal calendar.

  B. Define rows and columns.

  C. Build a report by using rows and columns.

  D. Specify the default ledger for ledger sets.

  E. Determine which rows and columns make up your report.

  Correct Answer: AD

• Question 43:

  Jane, the GL accountant, asks you whether she could delete the budget after it has been defined. She also wants to know whether she could delete the budget organization after it has been defined. What would be your response?

  A. You can delete the budget and the budget organization after they have been defined.

  B. You cannot delete the budget or the budget organization after either has been defined.

  C. You cannot delete a budget after it has been defined. However, you can delete a budget organization.

  D. You cannot delete a budget organization after it has been defined. However, you can delete a budget.

  Correct Answer: C

• Question 44:

  Select two restrictions that apply to consolidating budget balances. (Choose two.)

  A. If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.

  B. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.

  C. If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period.

  D. If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.

  E. If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period.

  Correct Answer: DE

• Question 45:

  Select two actions that ledger sets permit. (Choose two.)

  A. performing variance inquiries

  B. being used for mass budgets

  C. sending budget balance inquiries

  D. viewing account balances for multiple ledgers in one view

  E. grouping multiple ledgers that share the same chart of accounts and calendar.

  Correct Answer: DE

• Question 46:

  Choose three required steps while performing the accounting setup in the Accounting Setup Manager. (Choose three.)

  A. Define operating units.

  B. Update accounting options.

  C. Complete the accounting setup.

  D. Define intercompany balancing rules.

  E. Create the accounting setup structure.

  F. Assign balancing segment values to legal entities.

  Correct Answer: BCE

• Question 47:

  Which item cannot be queried in the Find Consolidation Process window?

  A. balance type

  B. parent period

  C. mapping sets

  D. parent calendar

  E. elimination sets

  Correct Answer: D

• Question 48:

  The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger.

  They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes.

  As an implementation consultant, what one recommendation would you make to meet the above requirement?

  A. Create two primary ledgers with the standard cash method.

  B. Create two primary ledgers with the standard accrual method.

  C. Create a primary ledger with standard cash, and a reporting ledger with standard accrual.

  D. Create a primary ledger with the standard accrual method, and a reporting ledger with standard cash.

  E. Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.

  Correct Answer: E

• Question 49:

  Which two are true about elimination? (Choose two.)

  A. You can define balancing options for eliminating entries.

  B. You can define an elimination set to contain one elimination entry.

  C. Currency is an optional component when defining an elimination set.

  D. You must specify an elimination company in the Elimination Sets window.

  Correct Answer: AB

• Question 50:

  You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four legal entities to support operations in the US (East), the US (West), the UK, and France.

  The chart of accounts and accounting calendar are similar for all entities except France. Only the UK operations want to enable average balances and journal approvals.

  What would be the minimum number of setups needed to meet this need?

  A. four

  B. two

  C. one

  D. three

  Correct Answer: D