Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 391:

  John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee (INR) only. Sam, the company accountant, is worried that he would not be able to execute transactions involving USD and INR currencies. What does John say to help Sam?

  A. Currency Rates Manager automatically converts all transactions entered in INR to USD.

  B. Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD.

  C. Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules.

  D. Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.

  E. Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency.

  Correct Answer: C

• Question 392:

  You are implementing Oracle General Ledger (GL) 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. John, a junior consultant helping you in the implementation effort, tells you that he is testing the system and entering journals in USD, Yen, and Euros. He says that he is able to enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you provide to John for this?

  A. Yen has not been enabled.

  B. Rate types have not been defined for Yen.

  C. Daily rates have not been entered for Yen.

  D. Workflow must be customized for journals to be entered in Yen.

  Correct Answer: A

• Question 393:

  Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of 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 394:

  Identify the different types of data that can be processed using the GL Interface. (Choose three.)

  A. rates

  B. budget

  C. vendors

  D. statistical

  E. intercompany

  F. currency codes

  Correct Answer: BDE

• Question 395:

  Select two actions available in Oracle General Ledger. (Choose two.)

  A. deleting posted journals

  B. exporting data to subsidiary ledgers

  C. importing data from subsidiary ledgers

  D. consolidating balances in subsidiary ledgers

  E. consolidating balances from multiple ledgers

  Correct Answer: CE

• Question 396:

  Which module of Oracle E-Business Suite Release 12 sends revaluation and accrual entries to General Ledger?

  A. Oracle Assets

  B. Oracle Projects

  C. Oracle Treasury

  D. Oracle Receivables

  E. Oracle Property Manager

  Correct Answer: C

• Question 397:

  Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.

  A. a paper check to print and send to a supplier

  B. an EFT, EDI, or XML to the bank of a supplier

  C. a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier

  D. transmission of payment information to an external party, such as your bank, that prints checks on your behalf

  Correct Answer: C

• Question 398:

  With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.

  A. issued

  B. updated

  C. negotiable

  D. reconciled

  Correct Answer: D

• Question 399:

  Which event reverses an accrual for an item set to accrue on receipt?

  A. paying an invoice

  B. delivering goods to a final destination

  C. running the Receipt Accruals - Period-end process

  D. matching an invoice in Payables to a purchase order

  Correct Answer: D

• Question 400:

  Identify three setup options that are defined in the Financial Options window. (Choose three.)

  A. interest

  B. retainage

  C. miscellaneous

  D. expenses clearing

  E. expense AP accrual account

  Correct Answer: BCD