Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 311:

  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 312:

  ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use?

  A. Use journal-level secondary ledger conversion.

  B. Use subledger-level secondary ledger conversion.

  C. Use adjustment-level secondary ledger conversion.

  D. Use both subledger-level and adjustment-level secondary ledger conversion.

  Correct Answer: A

• Question 313:

  ABC Corporation is headquartered in New Delhi with an office in Mumbai. They share the same chart of accounts, calendar, and currency. The Mumbai ledger contains manual adjustments and automated adjustments. The New Delhi office does not need a complete ledger to perform management or statutory reporting. Which four statements are true in the given scenario? (Choose four.)

  A. The Mumbai ledger is an adjustment-only secondary ledger.

  B. Perform all adjustments in the Mumbai ledger.

  C. Perform all day-to-day transactions in the New Delhi ledger.

  D. Use ledger sets to combine transaction data and adjustment data.

  E. Perform all day-to day-transactions and adjustments in the New Delhi ledger.

  F. Consolidate data in the Mumbai ledger with the New Delhi ledger while reporting.

  Correct Answer: ABCD

• Question 314:

  In the context of adding, deleting, and disabling secondary ledgers, select two valid statements. (Choose two.)

  A. The subledger accounting method must be assigned if defining a balance- or journal-level subledger.

  B. The subledger accounting method must be assigned only to the secondary ledger in case of defining a subledger journals-level secondary ledger.

  C. The subledger accounting method must not be assigned if defining an adjustments-only secondary ledger for manual adjustments in General Ledger.

  D. The subledger accounting method need not be assigned to the primary ledger for assigning a subledger accounting method to the adjustments-only secondary ledger.

  E. The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.

  Correct Answer: CE

• Question 315:

  Michael is responsible for the accounting setup. Here is the list of accounts for the accounting setup structure mapped to their requirement.

  1.

  suspense account - suspense posting

  2.

  reserve for encumbrance account - exchange rate gain/loss

  3.

  non-postable net income account - average balance processing

  4.

  ledger currency balancing account - for using Oracle subledgers and balance subledger journals by the entered currency and balancing segment value

  5.

  entered currency balancing account - for using Oracle subledgers and balance foreign currency subledger journals by the ledger currency and balancing segment value

  Identify two correct mappings of accounts. (Choose two.)

  A. 1

  B. 2

  C. 3

  D. 4

  E. 5

  Correct Answer: AC

• Question 316:

  XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant.

  Select three steps that are required for creating a new accounting structure. (Choose three.)

  A. Define jurisdictions.

  B. Define period types.

  C. Assign legal entities.

  D. Save the accounting structure.

  E. Define accounting representations.

  F. Define subledger accounting methods.

  Correct Answer: CDE

• Question 317:

  Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.)

  A. Assigning legal entities to accounting setups is compulsory.

  B. After the subledger accounting method is assigned, it cannot be changed.

  C. Before completing the accounting setup, secondary ledgers and currency can be deleted.

  D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.

  Correct Answer: CD

• Question 318:

  Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)

  A. ledgers

  B. operating units

  C. data access sets

  D. definition access sets

  E. subledger accounting method

  Correct Answer: AE

• Question 319:

  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 320:

  Identify two places where you can define a legal entity. (Choose two.)

  A. set of books

  B. data access set

  C. Legal Entity Configurator

  D. HRMS organization setup

  E. Accounting Setup Manager

  Correct Answer: CE