Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 61:

  Control options at the site level default from ______.

  A. the supplier

  B. system options

  C. financial options

  D. payables options

  Correct Answer: A

• Question 62:

  At your client site, under Payables Options, the Transfer to GL option has been set to Summarize by Accounting Period. The period-end close proceses for AP have run and the Payables journal (purchase invoices and payments) have been created and posted in GL.

  Which statement is true?

  A. It is not possible to drill down from GL to Payables.

  B. It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables.

  C. Drilldown from the journals of category purchase invoices in GL is possible, but not drilldown from journals of category payments.

  D. Drilldown from the journals of category payments in GL to Payables is possible, but not dirlldown from journals of category purchase invoices.

  Correct Answer: B

• Question 63:

  There are numerous Oracle Modules that are integrated into or out of the Payables module.

  Identify four Oracle modules that are directly integrated with Oracle Payables. (Choose four.)

  A. Loans

  B. Purchasing

  C. Bill of Materials

  D. E-Business Tax

  E. Order Management

  F. Cash Management

  G. System Administrator

  Correct Answer: ABDF

• Question 64:

  Which three reports can be used to reconcile Payables activities to General Ledger? (Choose three.)

  A. Supplier Payment Report

  B. Posted Payments Report

  C. Cash Clearing Account Report

  D. Accounts Payable Trial Balanace Report

  E. General Ledger Account Analysis Report

  Correct Answer: BDE

• Question 65:

  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 66:

  Identify the four reports you must run when reconciling invoices and payments to the Accounts Payable Trial Balance Report. (Choose four.)

  A. Void Check Register

  B. Posted Invoices Report

  C. Posted Payments Report

  D. Accounts Payable Trial Balance ?prior period

  E. Payables Transfer to General Ledger Reports

  F. Accounts Payabale Trial Balance ?current period

  G. Account Analysis ?(132 Char) / Account Analysis ?(180 Char).

  Correct Answer: BCDF

• Question 67:

  You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust ________.

  A. the number of invoice lines

  B. the total header invoice amount

  C. the amount of another distribution

  D. the self assessed taxes in the Tax Details window

  Correct Answer: C

• Question 68:

  Which is the final step in processing a payment batch?

  A. Cancel the payment batch.

  B. Confirm the payment batch.

  C. Validate the payment batch.

  D. Run the create accounting process.

  E. Transfer the batch to General Ledger.

  Correct Answer: B

• Question 69:

  As part of its closing process, XYZ Corporation reviews receipt accruals. Occasionally, Payables matches incorrectly, and therefore they find that some perpetual accruals never clear, leaving reconciliation items on their accrual reports.

  Which two actions can they perform to solve the problem? (Choose two.)

  A. Reverse the invoice distributions and rematch if possible.

  B. Run the Uninvoiced Receipts Report to identify the receipt accrual that has not cleared and create a manual journal entry in General Ledger to clear the receipt from the report.

  C. Run the Matching Hold Detail Report to identify the receipt that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.

  D. Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.

  Correct Answer: AD

• Question 70:

  To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. Select three setup options for manual tax lines. (Choose three.)

  A. Regime

  B. Event Class

  C. Regime, Tax

  D. Configuration Owner

  E. Tax ?Controls and Defaults

  F. Regime, Tax, Tax Jurisdiction

  Correct Answer: BDE