Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 41:

  ABC Corp. has the following Organization Structure:

  1.

  Legal Entity: A

  2.

  Operating Units: B and C

  3.

  Balancing Entities: 10, 20, and 30

  Identify three correct statements regarding the Balancing Entity. (Choose three.)

  A. Each Balancing Entity must balance within itself.

  B. There can be multiple Balancing Entities within an Operating Unit.

  C. Balancing Entity is the lowest postable unit in the Chart of Accoutns.

  D. Balancing Entities can be automatically secured at the Legal Entity level.

  E. Balancing Entities can be secured at the Operating Unit level through Security Rules.

  Correct Answer: ABE

• Question 42:

  You are the Human Resources lead for the ERP implementation of ABC Corporation. You have defined the employees in Oracle Human Resources. Select three activities that utilize the employee record. (Choose three.)

  A. Approvals

  B. Asset assignment

  C. Organization creation

  D. Journal Entry creation

  E. AutoCreate Purchase Orders

  Correct Answer: ABE

• Question 43:

  A Ledger is a financial reporting entity. What is new in Oracle E-Business Suite Release 12 that facilitates generation of accounting entries?

  A. Ledger

  B. Chart of Accounts

  C. Multi-Org Structure

  D. Accounting Convention

  E. Financial Accounting Calendar

  Correct Answer: D

• Question 44:

  Select the three options available when creating the Security profile for Multi-Org Access Control. (Choose three.)

  A. View all Organizations

  B. Secure by Business Groups

  C. Secure by Inventory Organizations

  D. Secure by Operating Unit and Inventory Organization

  E. Secure Organizations by Organization list and/or hierarchy

  Correct Answer: ADE

• Question 45:

  Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night.

  A descriptive flexfield called "SAI Value" has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a corresponding user- defined hold called "SAI Hold", which is manually applied whenever an invoice is created and the "SAI Value" has not been provided to Company Z by the supplier.

  During weekly reviews of accounting, users have founbd that invoice transactions that are on "SAI Hold" are displayed in Project Accounting but not in General Ledger. Select what is causing this issue.

  A. Invoices have not been validated.

  B. The current General Ledger period is closed.

  C. The current Project Accounting period is closed.

  D. The Payables Accounting process has not been run.

  E. Accounting is not being created by the user-defined hold.

  F. The descriptive flexfield field must be a required field, and not an optional field.

  Correct Answer: E

• Question 46:

  Identify the two methods that are NOT used to enter invoice distributions. (Choose two.)

  A. using a distribution set

  B. creating through allocations

  C. matching the invoice to a shipment

  D. using the Distributions Open Interface

  E. manually entering in the distributions window

  Correct Answer: CD

• Question 47:

  Identify three statements that properly describe the use of distribution sets. (Choose three.)

  A. Assign a distribution set to an invoice when you enter it.

  B. Use full distribution sets to create distributions with no set percentage amounts.

  C. Use skeleton distribution sets to create distributions with set distribution amount.

  D. Assign a default distribution set to a supplier site, so Payables will use it for every invoice you enter for that supplier site.

  E. Use a distribution set to enter distributions for an invoice automatically when you are not matching it to a purchae order.

  Correct Answer: ADE

• Question 48:

  Identify three ways that an invoice can be submitted for validation. (Choose three.)

  A. online by clicking the "Validate" button in the Invoice Batches window

  B. online by clicking the "Validate and Account" button in the Invoice Batches window

  C. in batch by submitting the Payabales Invoice Validation program from the Invocie Workbench

  D. in batch by submitting the Payables Invoice Validation program from the Submit Request window

  E. online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window

  Correct Answer: ADE

• Question 49:

  Identify three statements that describe Payment Terms. (Choose three.)

  A. default from the supplier site

  B. cannot be specified in import tables

  C. can be used for electronic payments

  D. can be used to schedule payments for an invoice

  E. automatically calculate due dates, discount dates, and discount amounts for each invoice

  Correct Answer: ADE

• Question 50:

  ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are seto to zero.

  A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount.

  When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released.

  To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

  A. Inspection is required because it is a three-way match.

  B. Manually release the hold because it is not a system hold.

  C. The service must be received in Purchasing because three-way matching is required.

  D. The service msut be received in Accounts Payable because it is a purchase order for a service and not a commodity or item.

  E. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.

  Correct Answer: C