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

Your client has set up Oracle Lease Management (OKL) and Oracle Credit Management (OCM)
without scoring models. Which three tasks can be successfully completed by Oracle Workflow in
OCM without manual intervention? (Choose three.)
A. Creating a case folder
B. Calculating a credit score
C. Creating a credit application
D. Creating a final credit recommendation
E. Sending notifications to the credit scheduler


Options are :

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

Answer : A,C,E

1Z0-520 Oracle EBS R12.1 Purchasing Essentials Practice Test Set 2

AB Company in the United Kingdom is a subsidiary of ABC Company in the United States. The
majority of transactions done by AB Company are entered in GBP. At the end of the year, AB
Company restates all its ledgers or balances to report at the headquarters in the US. What is this
process called? 


Options are :

  • Translation (Correct)
  • Revaluation
  • Observation
  • Conversion

Answer : Translation

Ten analysts are assigned the same Receivables responsibility and are given their own logins.
The requirement is to restrict three of the analysts from creating chargebacks or adjustments.
What would be your advice to ensure compliance with this internal control?
A. Use forms personalization to restrict function access.
B. Set the "AR: Cash - Allow Actions" system profile to no at the responsibility level.
C. Set the "AR: Cash - Allow Actions" system profile to no at the user level for the three analysts.
D. Set the "AR: Cash - Allow Actions" system profile to yes at the user level for the three analysts.
E. Set the "AR: Cash - Allow Actions" system profile to yes at the application level for the three
analysts.


Options are :

  • A
  • C (Correct)
  • D
  • B

Answer : C

Invoice batching provides checks and balances that are not available in a single invoice. Choose
two reasons why you might want to enter invoices in batches. (Choose two.) 

A. You can print invoices by batch.
B. Batching provides default values for invoice fields.
C. You can post invoices to General Ledger by batch.
D. You can apply cash receipts directly to a batch of invoices.


Options are :

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

Answer : A,B

1Z0-517 Oracle EBS R12.1 Payables Essentials Practice Exam Set 11

Choose the correct sequence of the budget accounting cycle in Oracle applications.
A) Freeze budgets.
B) Define budgets and budget organization.
C) Review and correct budgets.
D) Report on budgets.
E) Enter budget amounts.
A. E, D, C, B, A
B. B, E, C, D, A
C. A, B, C, D, E
D. E, A, B, C, D
E. B, E, C, A, D


Options are :

  • B
  • D
  • E (Correct)
  • A

Answer : E

ABC Enterprise closes its books on March 31st. These activities have been identified to be
performed for the closure of books.
1) post
2) translate
3) review
4) consolidate
5) revalue
6) run accounting reports
7) close accounting period
In which order must these activities be performed? 

A. 1, 3, 5, 2, 4, 6, 7
B. 5, 2, 3, 1, 7, 4, 6
C. 1, 5, 2, 3, 4, 7, 6
D. 1, 3, 2, 5, 7, 4, 6


Options are :

  • B
  • A (Correct)
  • C
  • D

Answer : A

Which four transaction types or activities are affected by the "AR : Disable Receivable Activity
Balancing Segment" profile option? (Choose four.)
A. Invoices
B. Adjustments
C. Late charges
D. Debit memos
E. Credit memos
F. Discounts (both earned and unearned)
G. Activity applications (such as receipt write-off, short-term debt, and claims investigation)


Options are :

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

Answer : B,C,F,G

1Z0-518 Oracle EBS R12 Receivables Essentials Practice Exam Set 1

Your client has requested that you set up gapless numbering for its invoices. In your testing, you
realized that the numbers for deleted invoices were missing from the sequence. How would you
prevent that problem? 


Options are :

  • Select Show Deleted Invoice Numbers in your system options.
  • Do not allow deletion of invoices. (Correct)
  • Reuse deleted invoice numbers.
  • Create a custom report listing deleted invoice numbers.

Answer : Do not allow deletion of invoices.

Identify three setups in Oracle Receivables that control how discounts are calculated. (Choose
three.)
A. Profile options
B. Payment terms
C. System options
D. Receipt classes
E. Customer profiles


Options are :

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

Answer : B,C,E

After reviewing an incomplete invoice entered last week by her assistant, Jovi clicked the
Complete button in the Transactions window. What are three changes this would create in Oracle
Receivables? (Choose three.)
A. This invoice can now be printed.
B. A dunning letter is now sent to the customer for the invoice amount.
C. This invoice now becomes eligible to be transferred to General Ledger.
D. Payment schedules are now created based on the payment terms and invoice date.
E. The invoice is now included in the standard aging and collection process if the transaction type
has open receivables set to No.


Options are :

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

Answer : A,C,D

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 2

Your client is using Oracle Trading Community Architecture (TCA) relationship manager to create
and manage relationships among parties. However, your client is having difficulty understanding
circular relationship types. Select two examples of circular relationships. (Choose two.)
A. Company H is an affiliate of company G.
B. Company A is the parent company of company B and company C.
C. Company J is a subsidiary of company K and company L is a division of company K.
D. Company M is a shareholder of company N and company N is a shareholder of company P.
E. Company D is a competitor of company E, which is a competitor of company F, which in turn is
a competitor of company D


Options are :

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

Answer : A,E

Your client wants to import paid invoices from its legacy system to Oracle Receivables. It does not
want to post the paid invoices to GL or update the customer balances. How would you import
invoices in this scenario? 


Options are :

  • Create a transaction source and set the status to Inactive.
  • Assign a transaction type with no values for the receivable and revenue accounts.
  • Create a transaction source with the GL Date in a Closed Period box set to Adjust
  • Assign a transaction type with the Open Receivable and Post to GL boxes deselected. (Correct)

Answer : Assign a transaction type with the Open Receivable and Post to GL boxes deselected.

The GL accountant tells you that he has defined two budg
  • AR_PAYMENTS_INTERFACE_ALL (Correct)
  • AR_INTERIM_CASH_RECEIPTS_ALL
  • AR_INTERIM_CASH_RCPT_LINES_ALL
  • AR_PAYMENT_SCHEDULE

Answer : AR_PAYMENTS_INTERFACE_ALL

When you assign a template to a rule in Bill Presentment Architecture, you enter a range of ___. 
Options are :
  • Customer accounts
  • Data sources
  • Transaction dates (Correct)
  • Transaction types

Answer : Transaction dates

Identify the Receivable interface table into which the receipt information contained in the bank file
can be loaded by using a SQL*Loader script. 


Options are :

  • AR_INTERIM_CASH_INTERFACE_ALL
  • AR_INTERIM_PAYMENTS_INTERFACE_ALL
  • AR_PAYMENTS_INTERFACE_ALL (Correct)
  • AR_INTERIM_CASH_RECEIPTS_ALL
  • AR_INTERIM_CASH_RCPT_LINES_ALL

Answer : AR_PAYMENTS_INTERFACE_ALL

A user attempted to close the Accounts Receivable accounting period and received an error.
What could be the cause of the error?


Options are :

  • There are existing invoice exceptions.
  • There are lockbox interface errors.
  • Create Accounting program did not run. (Correct)
  • AutoInvoice did not run

Answer : Create Accounting program did not run.

After creating a number of Financial Statement Generator reports, ABC Company wants a list of
the definitions for one specific account. Identify the report that would provide this information.


Options are :

  • FSG Content Set Detail Listing
  • FSG Attribute Listing
  • FSG Content Summary Listing
  • FSG Where Used Report (Correct)
  • FSG Report Detail Listing

Answer : FSG Where Used Report

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 5

Which three functions can the Create Accounting Program perform? (Choose three.)
A. Creating accrual entries
B. Running the journal import
C. Validating distribution lines
D. Creating accounting entries
E. Transferring data to the interface table
Options are :
  • A,B,C
  • B,D,E (Correct)
  • A,B,D
  • C,D,E

Answer : B,D,E

XYZ Company has disabled the Receivables Profile Option "AR: Disable Receivable Activity
Balancing Segment". What must be defined in order for the General Ledger Transfer process to
execute without error?
Options are :
  • Expense account
  • Rounding account
  • Gain account
  • Suspense account (Correct)
  • Revenue account

Answer : Suspense account

Identify four steps involved in the setup for late charges. (Choose four.)
A. Assigning different policies to your customers
B. Indicating by transaction type if a late charge policy is enforced
C. Enabling late charges in the Receivables System Options form
D. Enabling late charges in the System Profiles form at the user level
E. Deriving accounting from transaction type when late charges are in adjustment format
F. Indicating if a specific invoice should be exempt from late charges at the transaction level 


Options are :

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

Answer : A,B,C,F

1Z0-520 Oracle EBS R12.1 Purchasing Essentials Practice Test Set 2

During the testing phase of your implementation, you find that you are unable to delete a journal
batch, though it is not yet posted. You ask the technical consultant for help and he emails you a
checklist of scenarios in which the batches cannot be deleted. Select three scenarios that would be on the checklist. (Choose three.) 

A. The source is frozen.
B. The journal batch has not been posted.
C. Funds have been reserved for the batch.
D. The journal batch has not been approved.
E. Funds are in the process of being reserved for the batch. 


Options are :

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

Answer : A,C,E

What two types of access do you need to be able to run year-end closing journals for all legal
entities? (Choose two.)
A. Read-only access to the ledgers
B. Full ledger data access set type that provides read and write access to the ledger
C. Read and write access to some of its balancing segment values and management segment
values
D. The balancing segment value data access set type that provides read and write access to all
balancing segment values for a ledger by selecting the all values check box
Options are :
  • B,D (Correct)
  • C,D
  • A,B
  • A,D

Answer : B,D

Select four mandatory requirements for creating ledgers in Oracle General Ledger. (Choose four.)
A. Currency
B. Period types
C. Operating units
D. Chart of accounts
E. Accounting method
F. Accounting calendar


Options are :

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

Answer : A,D,E,F

1Z0-518 Oracle EBS R12 Receivables Essentials Practice Exam Set 2

You are setting up Receivable Accounting Events in Subledger Accounting. Identify the Event
Entity


Options are :

  • Guarantees
  • Deposits
  • Transactions (Correct)
  • Chargebacks
  • Invoices

Answer : Transactions

ABC Company is implementing Oracle Financials. The finance manager wants to set up a control
point before the Receivables entries are transferred to General Ledger. Which two statements are
correct about the control mechanisms that Receivables can provide? (Choose two.)
A. Oracle approval limit can be used to approve or reject the invoices.
B. Oracle approval limit can be used to approve or reject the credit memos.
C. Oracle approval limit can be used to approve or reject the adjustment activities.
D. Oracle Approvals Management (AME) Workflow can be used to approve or reject the invoices.
E. Oracle Approvals Management (AME) Workflow can be used to approve or reject the credit
memos.
F. Oracle Approvals Management (AME) Workflow can be used to approve or reject the
adjustment activities.


Options are :

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

Answer : C,E

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