Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 381:

  Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)

  A. Both budget and actual balances can be consolidated.

  B. Consolidation is possible only when the subsidiaries use multiple Oracle application instances.

  C. You can consolidate balances only when there are separate ledgers for different companies.

  D. You can maintain multiple companies with similar or different accounting structures and consolidate their results for meaningful financial reporting.

  Correct Answer: AD

• Question 382:

  ABC Company in the United Kingdom has three subsidiaries in three different countries. It consolidates the accounts of all subsidiaries and the headquarters by using the average balances.

  John is new to Oracle General Ledger. He has just joined ABC Company. He needs to consolidate for the current month. On completion of the consolidation, John was not able to tally the consolidated figures with the ledgers. Select two reasons why John failed to see the correct balances. (Choose two.)

  A. Posting of the consolidation journals may have failed.

  B. He forgot to add the prior periods consolidation in the current period.

  C. Manual adjustment needed after every consolidation was not performed.

  D. John may not have reversed the prior periods consolidation in the current period.

  Correct Answer: AD

• Question 383:

  You are implementing Oracle General Ledger at a client site. The client is based in the US, but they have a presence in many countries and transactions in multiple currencies.

  The implementation team decides that the GL multi-currency setup will be a part of the implementation. The company's management in the US wants to see all transactions in USD, whereas the management in Europe wants to see the transactions in Euros. The CFO has this requirement:

  While entering daily transactions, the user must be able to enter the current exchange rate. But at month end, the assets and liabilities in Euros must be converted into USD at the monthly average exchange rate. Can this requirement be satisfied?

  A. Oracle GL does not support this functionality.

  B. Workflow must be customized to satisfy this requirement.

  C. The account generator must be customized to satisfy this requirement.

  D. Oracle GL provides this functionality and there is no problem in satisfying the requirement.

  Correct Answer: D

• Question 384:

  Choose the reason why Tina is unable to view the subledger entries from Oracle Payables in the Oracle General Ledger module. She has run the transfer program that completes successfully.

  A. Journal Import is not submitted.

  B. The Journal source is not defined.

  C. The Journal category is not defined.

  D. Payables is not integrated with General Ledger.

  Correct Answer: A

• Question 385:

  ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of primary ledgers that are required

  to be defined.

  A. five

  B. four

  C. two

  D. one

  E. three

  Correct Answer: A

• Question 386:

  Choose three tables that will be populated when the Journal Import process is run with the option to post set as "Yes." (Choose three.)

  A. GL_JE_LINES

  B. GL_JE_BATCHES

  C. GL_JE_HEADERS

  D. GL_JE_SOURCES

  E. GL_IMPORT_REFERENCES

  Correct Answer: ABC

• Question 387:

  Select three levels where additional reporting currency representations can be maintained. (Choose three.)

  A. batch

  B. journal

  C. balance

  D. subledger

  Correct Answer: BCD

• Question 388:

  You are implementing Oracle General Ledger at a client site. The client is based in the US, but they have a global presence in many countries and transactions in multiple currencies. The implementation team decides that the Oracle General Ledger multi-currency setup will be a part of the implementation. The client's Chief Financial Officer wants a system that has these features:

  1.

  Enter transactions and reports in any currency.

  2.

  Enter exchange rates online or automatically.

  3.

  Calculate realized and unrealized gains and losses. IV. Translate actual and budget balances.

  4.

  Produce foreign currency financial statements and reports. Which requirements can be satisfied with the implementation?

  A. 1, 2, and 3 only

  B. 1, 2, 3, and 4 only

  C. 1, 2, 4, and 5 only

  D. All requirements from 1 through 5 can be satisfied.

  Correct Answer: D

• Question 389:

  Identify three statements that are correct for the multi-currency functionality of Oracle General Ledger. (Choose three.)

  A. Enter transactions and reports in any currency.

  B. Enter exchange rates online and automatically.

  C. Translate only actual but not budgeted balances.

  D. Translate only budgeted but not actual balances.

  E. Use daily, period end, average, and historical rates.

  Correct Answer: ABE

• Question 390:

  Which three are the benefits of the Currency Rates Manager in Oracle General Ledger? (Choose three.)

  A. You can maintain daily rates and historical rates more easily.

  B. You get improved efficiency with the help of the spreadsheet interface.

  C. You can maintain consistency among different currency conversion rates.

  D. Additional security ensures that historical rates can be uploaded to closed or future periods only.

  E. You can maximize intercompany imbalances during intercompany eliminations of foreign currency transactions that are due to exchange rate differences.

  Correct Answer: ABC