1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 4

The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the 
miscellaneous receipt needs to be reversed. Which method would you advise the client to use?

Options are :
  • Carry out a debit memo reversal of the miscellaneous receipt.
  • Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.
  • Carry out a standard reversal of the miscellaneous receipt. (Correct)
  • Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.
  • Create a receivable activity adjustment for the reversal of the miscellaneous receipt.

Answer : Carry out a standard reversal of the miscellaneous receipt.

Identify three statements that are true for E-Business Tax. (Choose three.)
A. E-Business Tax transactions are strictly controlled and cannot be changed.
B. E-Business Tax provides seeded tax registration types for local organizations.
C. E-Business Tax provides a single point solution for managing your transaction-based tax
requirements.
D. E-Business Tax provides a common model for setting up tax data for tax determination and tax
calculation.
E. E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through
one application interface.

Options are :
  • A,C,D
  • A,B,C
  • C,D,E (Correct)
  • B,D,E

Answer : C,D,E

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


Options are :

  • It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables. (Correct)
  • Drilldown from the journals of category payments in GL to Payables is possible, but not drilldown from journals of category purchase invoices.
  • Drilldown from the journals of category purchase invoices in GL is possible, but not drilldown from journals of category payments.
  • It is not possible to drill down from GL to Payables.

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

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.

Options are :
  • A,D (Correct)
  • B,C
  • B,C
  • A,C

Answer : A,D

Identify three Oracle E-Business Suite Release 12 applications that both integrate with Payables
and provide Payables-related accounting information to Oracle Subledger Accounting. (Choose
three.)
A. Oracle Assets
B. Oracle Leasing
C. Oracle Inventory
D. Oracle Receivables
E. Oracle Procurement

Options are :
  • A,B,C
  • B,D,E
  • B,C,D
  • A,C,E (Correct)

Answer : A,C,E

The following template has been created:
D_Region_Asset
Here, D represents the company segment; the value set is called company.
Region represents the division segment; the value set is called division.
Asset represents the natural account segment; the value set is called account.
You receive this error:
APP-08820: The rollup group 'Asset' is not defined in the value set: <'Account'>. 

What is the problem?


Options are :

  • The asset rollup group should have been aligned with the division segment.
  • The asset rollup group has been assigned to a parent with no child values.
  • The asset rollup group has not been assigned to a parent value. (Correct)
  • The natural account segment can have only a T designation.

Answer : The asset rollup group has not been assigned to a parent value.

To set up Offset Tax under the Tax Configuration tab, which Tax Configuration tab must you select
to locate and enable "Set as Offset Tax"?


Options are :

  • tax rules
  • tax regimes
  • tax statuses
  • taxes (Correct)
  • tax rates

Answer : taxes

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 _____

Options are :
  • the total header invoice amount
  • the amount of another distribution (Correct)
  • the number of invoice lines
  • the self assessed taxes in the Tax Details window

Answer : the amount of another distribution

When reviewing the Accounts Payable Trial Balance Report for a period, a user notices that the
remaining balance for an invoice is negative. What is the reason?


Options are :

  • The payment for that invoice was recorded in a GL period before the GL period of invoice distributions. (Correct)
  • The invoice was moved to the next period.
  • The invoice was never accounted for.
  • The invoice was overpaid.

Answer : The payment for that invoice was recorded in a GL period before the GL period of invoice distributions.

Identify three statements that are true about E-Business Tax and Payables. (Choose three.)
A. In E-Business Tax, tax calculations are based on supplier's site defaults.
B. In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
C. Payables is not integrated with E-Business Tax to provide tax services for invoices.
D. With E-Business Tax, you can account for recoverable taxes at the time and to the extent of
payment in Payables.
E. Payables integrates with E-Business Tax to automatically determine and calculate the
applicable tax lines for the invoices.

Options are :
  • A,C,E
  • A,B,C
  • A,C,D
  • B,D,E (Correct)

Answer : B,D,E

 

Identify two exceptions that prevent you from closing the period in Payables. (Choose two.)
A. unpaid invoices
B. outstanding pay runs
C. invoices not validated
D. unaccounted invoices
E. unpaid expense reports

Options are :
  • B,D (Correct)
  • A,C
  • D,E
  • C,E

Answer : B,D

Select four occasions when the Create Accounting process can be run. (Choose four.)
A. after the payment process
B. before the payment process
C. after the Invoice Validation process
D. before the Invoice Validation process
E. before the transfer information to GL process

Options are :
  • A,C,D,E
  • A,B,C,D
  • A,B,C,E (Correct)
  • B,C,D,E

Answer : A,B,C,E

Identify three statements that are true for supplier's bank details. (Choose three.)
A. Suppliers maintain their bank details.
B. Bank details are required only for manual check payments.
C. Bank accounts can be added at any time for a supplier or supplier site.
D. Payables uses bank account information to generate an electronic payment for a supplier.
E. Updating bank accounts for a supplier will not affect bank accounts for existing supplier sites.

Options are :
  • C,D,E (Correct)
  • A,B,C
  • A,D,E
  • B,C,D

Answer : C,D,E

Which statement is FALSE about the Stop Payments Report?


Options are :

  • Payables does not list stop payments that were initiated, but then released at a later time.
  • Payables does not list stop payments that were voided at a later time.
  • Payables lists stop payments that were voided at a later time. (Correct)
  • Use this report to review all current stop payments.

Answer : Payables lists stop payments that were voided at a later time.

Identify three statements that are true for electronic or wire payment. (Choose three.)
A. A wire payment validates the supplier's bank details.
B. More bank accounts for a supplier or supplier site can be added.
C. Supplier banks must be assigned to the supplier for electronic payment.
D. Payables does not require supplier bank account information for a wire payment.
E. Electronic payment instructs the bank to make payment to a supplier bank account.

Options are :
  • A,B,D
  • C,D,E (Correct)
  • A,C,D
  • A,B,C

Answer : C,D,E

Identify two advantages of using Oracle Internet Expenses. (Choose two.)
A. It improves cycle times by routing expense reports via a workflow.
B. Expense reports that are entered using Internet Expenses are visible in Payables.
C. Enforcement of spending policy controls expenses, showing any policy deviations.
D. Expense report template attributes are defined in Internet Expenses to manage expense types.

Options are :
  • A,C (Correct)
  • B,D
  • B,C
  • A,B

Answer : A,C

XYZ Corporation uses Fixed Assets to manage their Asset transactions such as capitalizing,
depreciating, adjusting, and retiring. After assets are purchased and the invoice is entered and
accounted for, the company runs the Mass Additions Create process to send assets to Fixed
Assets. When the purchase order is written, which account must be specified on the purchase
order distribution for the charge account?


Options are :

  • the AP trade liability account associated with the operating unit
  • the material account associated with the inventory organization
  • the asset clearing account associated with an asset category in Assets (Correct)
  • the asset cost account associated with an asset category in Assets

Answer : the asset clearing account associated with an asset category in Assets

You initiated a pay run by entering criteria for invoices that you want to pay. In which order would
you perform these steps to complete the pay run process?
1. Review proposed payments.
2. Print payments.
3. Create payment instructions.
4. Select and build proposed payments.
5. Mark payments as complete.


Options are :

  • 4, 1, 3, 2, 5 (Correct)
  • 5, 4, 1, 2, 3
  • 2, 4, 1, 3, 5
  • 4, 2, 1, 5, 3

Answer : 4, 1, 3, 2, 5

Identify three options for preventing prepayments. (Choose three.)
A. Release the scheduled payment.
B. Apply one or more holds to the prepayment.
C. Apply the holds as you would for any other invoice.
D. Release the holds from a prepayment just as you would for any other invoice.

Options are :
  • A,C,D
  • A,B,C
  • B,C,D (Correct)
  • A,B,D

Answer : B,C,D

During the entry or update of expense reports in the Payables Expense Report window, holds can
be applied on an expense report. These holds are carried forward to the invoice created from the
expense report in Payables. Which statement is true?


Options are :

  • Any number of user-defined holds and only one system hold can be applied on one expense report in the Payables Expense Report window.
  • Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window. (Correct)
  • Any number of user-defined holds and any number of system holds can be applied on one expense report in the Payables Expense Report window.
  • Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Answer : Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window.

Payment process request templates are created on the Templates tabbed page of the Payments
Manager to simplify pay run processing. All statements in the list below represent steps to create a
payment process request template. Which one is the first step?


Options are :

  • Specify template header information. (Correct)
  • Specify how the system handles validation failure on the document and payment levels.
  • Specify invoice payment selection criteria.
  • Specify the degree of pay run automation.
  • Specify payment attributes.

Answer : Specify template header information.

Identify three statements that are true for entering bank and branch details. (Choose three.)
A. Each bank must have at least one bank branch.
B. The bank account number is free-formatted information.
C. Banks and bank branches are created for Cash Management.
D. Bank accounts cannot be shared between bank and bank branches.
E. Each bank can have multiple branches and each branch can have multiple accounts.

Options are :
  • A,C,D
  • B,C,D
  • A,B,E (Correct)
  • B,D,E

Answer : A,B,E

If you use the Expense Report Export program, it converts expense reports created in these
applications into Payables invoices. Identify the two applications. (Choose two.)
A. Oracle Aria
B. Oracle Travel
C. Oracle Projects
D. Oracle Payables
E. Oracle General Ledger
F. Oracle Internet Expenses

Options are :
  • D,F (Correct)
  • A,F
  • B,D
  • C,E

Answer : D,F

You are working on an implementation for Accounts Payable. Many payments for small suppliers
will be made outside the system, but your client does not want to manually record them because
that would be time consuming. Choose the best solution.


Options are :

  • Create electronic payment batches by using a clearing payment method for those multiple suppliers because this payment method does not generate a file.
  • None of the Above
  • Create electronic payment batches by using an electronic payment method such as EFT for those multiple suppliers, and then do not send the resulting electronic file to the bank.
  • Create electronic payment batches by using a check payment method for those multiple suppliers, and destroy those checks.
  • Create electronic payment batches by using a wire payment method for those multiple suppliers, and then delete the resulting electronic file. (Correct)

Answer : Create electronic payment batches by using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.

You have received an invoice that requires an immediate payment. The next scheduled check run
is not until the end of the week. Which two methods may you use to create the payment? (Choose
two.)
A. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment
Workbench and create a quick payment.
B. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment
Workbench and create a manual payment.
C. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This
accesses the Payment Workbench and create a quick payment.
D. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This
accesses the Payment Workbench and creates a manual payment.

Options are :
  • B,C
  • B,D
  • A,C (Correct)
  • A.B

Answer : A,C

Which two statements are true about defining payment documents? (Choose two.)
A. Checks and electronic payments are examples of payment documents.
B. Credit and debit memos and checks are examples of payment documents.
C. You can create only one payment document for each internal bank account.
D. You must create at least one payment document before you can use a bank account to create
invoice payments.
E. Use the Payment Documents window to define payment documents for internal, customer, and
supplier bank accounts.

Options are :
  • A,D (Correct)
  • D,E
  • A,E
  • C,D

Answer : A,D

Creating multiple scheduled payments allows you to issue partial payment of an invoice or to pay
an invoice over multiple dates. Identify the one invoice field that is NOT used on the Scheduled
Payments tabbed page.


Options are :

  • bank account
  • trading partner (Correct)
  • gross amount
  • due date
  • payment method
  • system hold reason

Answer : trading partner

Expense reports for Company A are entered in Payables using the Expense Report form. The
accounting flexfield has a three-segment structure:
Company - Cost Center - Account
The employee GL account on the expense report is populated from the employee record. The
company and the cost center for the expense lines are derived from the GL account. The account
segment value could vary for every line on the expense report. Identify the approach you 

recommend to Company A for fast and accurate entry of expense reports.


Options are :

  • Enter the expense report header. Enter lines. Enter all segment values for each expense report line.
  • Enter the expense report header. Enter lines. Override the account segment value for each line as required.
  • Create expense report templates. Enter the account segment value for each line on the template. Leave the other segment values empty. Use the template lines when entering the expense report. (Correct)

Answer : Create expense report templates. Enter the account segment value for each line on the template. Leave the other segment values empty. Use the template lines when entering the expense report.

You just received an invoice for a new supplier. You need to pay it and ensure that all accounting
entries are created in General Ledger. You perform these steps, in the order shown:
1. Enter the supplier.
2. Enter the invoice.
3. Create the pay run.
4. Create payment accounting entries.
5. Validate the invoice.
6. Create invoice accounting entries.
7. Transfer the information to General Ledger.

What would be the result?


Options are :

  • The invoice is paid and all accounting entries are created in General Ledger.
  • The invoice is paid but only the invoice accounting entry is created in General Ledger.
  • The invoice is not paid but the invoice accounting entry is created in General Ledger. (Correct)
  • The invoice is not paid and no entries are created in General Ledger.

Answer : The invoice is not paid but the invoice accounting entry is created in General Ledger.

R12 uses simplified navigation paths. To which specific button or navigational notation does (ST)
refer?

Options are :
  • submit
  • subtab (Correct)
  • save
  • search
  • stop
  • start

Answer : subtab

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