Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 111:

  Exhibit:

  

  ABC.com has the following requirements: 1.Asset invoices are entered in AP daily, but assets are transferred to Oracle Assets only once a week 2.Payables Journal entries have to be transferred to GL at least once a month for reporting purposes 3.Oracle Projects balances have to be updated once every month 4.Payment batches need to be processed daily Based on the above what would be the minimum recommended frequency of running the Transfer to GL

  program?

  A. Daily

  B. Weekly

  C. Monthly

  D. Once very two weeks

  Correct Answer: B

• Question 112:

  The purpose of the Unrealized Gain / Loss Report is to review unrealized gains and losses on _____________.

  A. All invoices

  B. Foreign currency invoices

  C. All invoices due to inflation effects

  D. All invoices due to inflation effects

  E. All invoices due to changes in the AP setup

  Correct Answer: B

• Question 113:

  ABC.com has closed its APR-XX Accounting period. The APR-XX period started on 27-MAR-20- 20XX and ended on 26-APR-20XX. It has run the posted invoice register, the posted payments register and two accounts payable trail balance reports (as of 30-MAR-20XX and 30-APR-20XX). Unfortunately, the accounts do not balance. Which two actions should be taken? (Choose two.)

  A. Check to make sure that all invoices for the period are paid

  B. Check the dates on the accounts payable Trail Balance reports

  C. Check to ensure that invoice and payment journals are posted in General Ledger

  D. Check to make sure that there are no unaccounted transactions in APR-XX by using the Unaccounted Transactions report

  Correct Answer: BC

• Question 114:

  The period-close processes of which Oracle Applications can be directly affected by the Payables period-close activities and processes? (Choose all that apply)

  A. Purchasing

  B. Installed Base

  C. Advanced Pricing

  D. Assets

  E. Enterprise asset Management (EAM)

  Correct Answer: AD

• Question 115:

  What are three prerequisites for interfacing payables invoice lines with Assets? (Choose three.)

  A. There are no holds placed on the invoice

  B. The invoice must be posted to General Ledger

  C. The option `Track as Asset' is selected in the Distributions from when entering an invoice

  D. The invoice has been transferred to General Ledger

  E. Distribution Account is Asset Clearing or CIP Account

  Correct Answer: CDE

• Question 116:

  Which three statements properly describe the use of distribution sets? (Choose three.)

  A. You can assign a distribution set to an invoice when you enter it

  B. You can use full distribution sets to create distributions with no set percentage amounts

  C. You can use skeletal distribution sets to create distributions with set distributions amount

  D. You can use a distribution set to automatically enter distribution for an invoice when you are not matching it to a purchase order

  E. You can assign a default distribution set to a supplier site so Payables would use it for every invoice you enter for that supplier site

  Correct Answer: ADE

• Question 117:

  Which three reports can be used for identifying duplicate suppliers? (Choose three.)

  A. Supplier Report

  B. Supplier Audit Report

  C. Supplier Merge Report

  D. Supplier Listing By Supplier Name

  Correct Answer: ABD

• Question 118:

  Which type of transaction uses the expenses clearing account defined in Financial Options?

  A. Expense Reports

  B. Credit Card Transactions

  C. Miscellaneous Expenses

  D. Expense-Related AP Invoices

  Correct Answer: B

• Question 119:

  At the ABC.com site, Cash Management is installed along with Oracle Payables. The payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different. What accounting happens when a payment is issued?

  A. Debit AP Liability, Credit Cash Clearing

  B. Debit AP Liability, Credit Cash

  C. Debit Cash Clearing, Credit Cash

  D. Debit Cash, Credit Cash Clearing

  Correct Answer: A

• Question 120:

  When you use invoice Approval workflow, which setup options in the Payables options form are related to invoices? (Choose three.)

  A. Allow Force Approval

  B. Use Invoice Approval Workflow

  C. Require Validation Before Approval

  D. Allow Document Sequencing Override

  E. Build Discount Accounts when matching

  Correct Answer: ABC