1Z0-516 Oracle EBS R12.1 General Ledger Essentials Exam Set 6

Identify the three reports that can be processed using the State Controller window. (Choose three.)
A. Consolidation Audit 

B. Consolidations Journal
C. Consolidation Financial
D. Consolidation Exceptions
E. Consolidation Balance Inquiry


Options are :

  • A,B,C
  • C,D,E
  • B,C,D
  • A,B,D (Correct)

Answer : A,B,D

Which two actions would you perform by using the column set builder function? (Choose two.)
A. assigning accounts
B. creating the format mask
C. defining calculations in the new column
D. sorting rows based on values in a column 


Options are :

  • C,D
  • A,B
  • B,C (Correct)
  • A,C

Answer : B,C

Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances? 


Options are :

  • Natural accounts were defined to not allow posting.
  • Natural accounts were defined as parent values
  • Natural accounts were defined to store both statistical and monetary values.
  • Natural accounts were defined with an incorrect account type. (Correct)

Answer : Natural accounts were defined with an incorrect account type.

You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four legal entities to support operations in the US (East), the US (West), the UK, and France. The chart of accounts and accounting calendar are similar for all entities except France. Only the UK operations want to enable average balances and journal approvals. What would be the minimum number of setups needed to meet this need? 


Options are :

  • four
  • three (Correct)
  • one
  • two

Answer : three

Select two restrictions that apply to consolidating budget balances. (Choose two.)
A. If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.
B. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.
C. If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period.
D. If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.
E. If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period. 


Options are :

  • A,D
  • C,D
  • A,B
  • D,E (Correct)

Answer : D,E

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? 


Options are :

  • Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.
  • Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules. (Correct)
  • Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD.
  • Currency Rates Manager automatically converts all transactions entered in INR to USD.

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

Select two statements that are correct for the secondary tracking segment. (Choose two.) 

A. Only the natural account segment or the balancing segment can be specified as the secondary tracking segment.
B. Any segment that is specified as the secondary tracking segment also must be specified as the management segment.
C. Any segment, except the natural account segment or the balancing segment, can be specified as the secondary tracking segment.
D. This segment will be paired with the balancing segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account.
E. This segment will be paired with the natural account segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account. 


Options are :

  • A,E
  • C,D (Correct)
  • B,C
  • A,B

Answer : C,D

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. 


Options are :

  • Payables is not integrated with General Ledger.
  • The Journal source is not defined
  • Journal Import is not submitted. (Correct)
  • The Journal category is not defined.

Answer : Journal Import is not submitted.

Identify what three considerations must be executed before creating a report by using the financial
statement generator. (Choose three.)
A. Download Web ADI.
B. Create the database link.
C. Determine the data to be reported.
D. Define attributes for rows and columns.
E. Decide which rows and columns will make up the report. 


Options are :

  • A,B,C
  • C,D,E (Correct)
  • A,B,D
  • A,C,D

Answer : C,D,E

ABC Company wants to compare consolidated actuals against consolidated budgeted amounts. Identify the two steps that must be performed to provide ABC Company with this information. (Choose two.)
A. Run the Trial Balance report.
B. Execute an online budget inquiry.
C. Execute an online account inquiry.
D. Review the Account Analysis report.
E. Run financial statement generator reports. 


Options are :

  • A,B
  • A,E
  • C,E (Correct)
  • C,D

Answer : C,E

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 Payables Invoice Validation program from the Invoice 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 


Options are :

  • A,B,D
  • A,B,C
  • B,C,D
  • A,D,E (Correct)

Answer : A,D,E

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


Options are :

  • running the Receipt Accruals - Period-end process
  • matching an invoice in Payables to a purchase order (Correct)
  • paying an invoice
  • delivering goods to a final destination

Answer : matching an invoice in Payables to a purchase order

Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of accounts. Select three statements that apply to consolidating ledgers with different charts of accounts. (Choose three.)
A. Only one action can be defined per parent segment.
B. Consolidations based on account rules process faster.
C. Consolidations based on segment rules process faster.
D. Segment rules override account rules if there is any conflict.
E. A segment rule action must be defined for each segment in the parent chart of accounts. 


Options are :

  • A,C,E (Correct)
  • A,B,D
  • B,C,D
  • A,B,C

Answer : A,C,E

Identify two types of inquiries that are possible on ledger sets. (Choose two.)
A. variance inquiry
B. summary template and summary account inquiries
C. a budget balance inquiry to view the budgeted figures
D. an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set
E. an account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set 


Options are :

  • C,D
  • D,E (Correct)
  • B,D
  • A,B

Answer : D,E

Identify four consolidation tools. (Choose four.)
A. Interface Data Transformer
B. Global Consolidation System
C. Global Intercompany System
D. Financial Statement Generator
E. Applications Desktop Integrator 


Options are :

  • A,B,D,E (Correct)
  • B,C,D,E
  • A,C,B,D
  • A,B,C,D

Answer : A,B,D,E

During a pilot run of Financial Statement Generator reports, the report output displayed credit amounts as negative numbers. The customer requires the credit amounts on the reports to be positive instead of negative. Identify the solution that must be implemented to meet the customer's requirements. 


Options are :

  • Select the change sign check box for the related row or column definition. (Correct)
  • Inform the customer that this requirement would require a customization.
  • Create a journal by doubling the values wherever the report is displaying negative numbers.
  • Deselect the change sign check box for the related row or column definition.

Answer : Select the change sign check box for the related row or column definition.

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. 


Options are :

  • four
  • two
  • five (Correct)
  • one

Answer : five

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 


Options are :

  • A,B,D
  • C,D,E
  • B,D,E (Correct)
  • A,B,C

Answer : B,D,E

Identify the four setup options that control supplier defaults. (Choose four.)
A. financial options
B. payables options

C. receiving options
D. purchasing options
E. Payables system setup
F. Trading Community Architecture (TCA) 


Options are :

  • C,D,E,F
  • A,B,D,E (Correct)
  • B,C,D,E
  • A,B,C,D

Answer : A,B,D,E

Identify two true statements about using column sets in an FSG report. (Choose two.)

A. Formats can be set for each column.

B. Accounts cannot be assigned to a column set.

C. Calculations can be performed by using columns. 

D. The seeded column sets provided must be used. 


Options are :

  • C,D
  • B,D
  • A,B
  • A,C (Correct)

Answer : A,C

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 


Options are :

  • C,D,E
  • B,C,D
  • A,B,D
  • A,B,C (Correct)

Answer : A,B,C

Which four attributes are validated during the Journal Import process? (Choose four.)
A. period
B. approval level
C. balanced journal
D. cross-validation rule
E. account combination
F. journal sequence number 


Options are :

  • A,B,D,E
  • B,C,D,E
  • A,B,C,D
  • A,C,D,E (Correct)

Answer : A,C,D,E

Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error. (Choose two.)
A. Review the workflow process.
B. Evaluate the mapping settings.
C. Review the GL_Interface tables.
D. Confirm the account hierarchy setups.
E. Run the period close by using a different amount type. 


Options are :

  • B,C (Correct)
  • A,E
  • C,D
  • A,B

Answer : B,C

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


Options are :

  • Oracle Receivables
  • Oracle Projects
  • Oracle Assets
  • Oracle Treasury (Correct)

Answer : Oracle Treasury

Which two are true about elimination? (Choose two.)
A. You can define balancing options for eliminating entries.
B. You can define an elimination set to contain one elimination entry.
C. Currency is an optional component when defining an elimination set.
D. You must specify an elimination company in the Elimination Sets window. 


Options are :

  • B,D
  • C,D
  • A,C
  • A,B (Correct)

Answer : A,B

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 inter company imbalances during inter company eliminations of foreign currency transactions that are due to exchange rate differences. 


Options are :

  • A,B,C (Correct)
  • C,D,E
  • A,D,E
  • A,C,D

Answer : A,B,C

ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack,
who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)
A. XYZ Company is not impacted at all by this rate change.
B. XYZ Company has a positive impact by this rate change.
C. ABC Company is not impacted at all by this rate change.
D. ABC Company has a positive impact by this rate change. 


Options are :

  • C,D
  • A,B
  • A,D (Correct)

Answer : A,D

All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?


Options are :

  • consolidating financials
  • posting journal entries
  • reversing journal entries
  • updating the period (Correct)

Answer : updating the period

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? 


Options are :

  • 1, 2, 4, and 5 only
  • All requirements from 1 through 5 can be satisfied. (Correct)
  • 1, 2, and 3 only
  • 1, 2, 3, and 4 only

Answer : All requirements from 1 through 5 can be satisfied.

Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.)
A. It is an integrated extension of a ledger.
B. It replaces multiple reporting currencies.
C. Reporting currencies are the same as secondary ledgers.
D. Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options. 


Options are :

  • A,B (Correct)
  • B,D
  • C,D
  • A,C

Answer : A,B

Comment / Suggestion Section
Point our Mistakes and Post Your Suggestions