1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 3

Identify three statements that are true for setting up withholding tax for a supplier and supplier site.
(Choose three.)
A. Withholding tax is an account distribution process.
B. The withholding tax option can be overwritten at the invoice level.
C. If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the
supplier's sites.
D. Payables defaults the withholding tax group from the supplier site to the invoice and then to
invoice distribution.
E. The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject
to withholding tax.
Options are :
  • C,D,E
  • A,C,D
  • A,B,D
  • A,D,E

Answer : C,D,E

The end users at Lucy Ltd. noticed several AutoInvoice exceptions and requested your help in
correcting them. Which window allows you to edit data?


Options are :

  • Interface Lines window
  • Interface Corrections window
  • Line Errors window
  • Interface Exceptions window

Answer : Interface Lines window

Your client, Company A, has these requirements:
1. Asset invoices are entered in the Payables daily, but assets are transferred to Oracle Assets
only once per week.
2. Payables journal entries have to be transferred to GL at least once per month for reporting
purposes.
3. Oracle Projects balances must be updated once every month.
4. Payment batches must be processed daily.
On the basis of the above requirements, what would be the minimum recommended frequency of
running the Transfer to GL program?
Options are :
  • daily
  • weekly
  • monthly
  • once every two weeks

Answer : weekly

Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 9

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
Options are :
  • C,D,F
  • B,D,E
  • D,E,F
  • A,B,C

Answer : B,D,E

To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. You can set
these options at the Event Class, Configuration Owner, or Tax level.
Under the manual tax options (Event Class, Configuration Owner, or Tax level), which common
capability is found?
A. 
B. 
C. 
D. 
E. 
F.
Options are :
  • Allow Override for Calculated Tax Lines
  • Allow Manual Tax Only Lines
  • Allow Entry of Manual Tax Lines
  • Allow Withholding Tax
  • Allow Tax Recovery
  • Allow Recalculation for Manual Tax Lines

Answer : Allow Override for Calculated Tax Lines

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 Payable Trial Balance - current period
G. Account Analysis - (132 Char) / Account Analysis - (180 Char).
Options are :
  • B,C,D,F
  • E,D,F,G
  • A,C,D,F
  • A,B,C,D

Answer : B,C,D,F

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 7

Tax Content Services store and maintain the master and reference data that are needed to support the other components in E-Business Tax. You use the E-Business Tax application to model details about the tax setup for all your company tax requirements. Identify the two that are NOT a sub component of Tax Content Services. (Choose two.)A. tax jurisdictions
B. tax condition sets
C. basic tax configuration
D. determining factor sets
E. country default controls
F. exemptions and exceptions
Options are :
  • B,D
  • A,C
  • C,D
  • E,F

Answer : B,D

The head office of ABCCorporation is at New York, and it has a branch in Tokyo. Their ledgers
have the same chart of accounts and calendar. The New York ledger uses USD, whereas the
Tokyo ledger uses JPY as the functional currency. ABC Corporation has a requirement that all its
branch transactions-subledger journals, General Ledger journal entries, and balances at Tokyo will
have to be routinely reported in USD to New York. As an implementation consultant, which
reporting currency conversion would you suggest for ABC Corporation?


Options are :

  • Both journal-level and balance-level reporting currency
  • Both subledger-level and balance-level reporting currency
  • Balance-level reporting currency only
  • Sub ledger-level reporting currency only

Answer : Sub ledger-level reporting currency only

Select the Apply Withholding Tax Payables option that must be set to submit the Withholding Tax
by Invoice Report.


Options are :

  • At Invoice Validation Time
  • Allow Online Validation
  • Allow Force Approval
  • At Payment Time

Answer : At Invoice Validation Time

1Z0-519 Oracle E-Business Suite R12.1 Inventory Essentials Set 1

Identify three functions that the Create Accounting program provides. (Choose three.)
A. validates and creates subledger journal entries
B. generates the Posted Journal Report for subledger journal entries
C. transfers final journal entries in the current batch run to General Ledger
D. applies the application accounting definitions that are created in Accounting Builder (ABM)
E. allows you to update final journal entries before the Transfer to General Ledger process is run
F. generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program
Options are :
  • A,C,F
  • A,B,D
  • C,D,E
  • B,D,F

Answer : A,C,F

Payables leverages E-Business Tax to set up, calculate, and manage transaction taxes, such as
Sales, VAT and Offset taxes. Which two taxes are NOT calculated and managed by Payables?
(Choose two.)
A. excise
B. property
C. customs duty
D. vehicle license
E. recoverable tax
Options are :
  • A,E
  • C,D
  • B,D
  • B,E

Answer : B,D

Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process?


Options are :

  • Invoice Audit Listing
  • Invoice Register
  • Create Accounting
  • Payables Posted Payment Register

Answer : Create Accounting

1Z0-517 Oracle EBS R12.1 Payables Essentials Practice Exam Set 6

In the accrual process for period-end accruals, which two events generate accounting entries that
can be transferred to General Ledger? (Choose two.)
A. processing a receipt
B. entering a purchase order
C. running the period-end accrual program
D. entering invoices and matching them in Payables
Options are :
  • B,C
  • A,D
  • A,C
  • C,D

Answer : C,D

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 Balance Report
E. General Ledger Account Analysis Report
Options are :
  • A,B,D
  • C,D,E
  • A,B,C
  • B,C,D
  • B,D,E

Answer : B,D,E

Identify three statements that are true for creating the withholding tax for standard, recurring, and
prepayment invoices. (Choose three.)
A. The Withholding Tax Report is prepared by suppliers.B. The Withholding Tax Group defaults in from the supplier or supplier site.
C. There can be multiple withholding tax codes with multiple tax authorities assigned to a group.
D. You can set up a special calendar to define periods that Payables uses for automatic
withholding tax.
E. The Withholding Tax Invoice Description field does NOT include the invoice that the withholding
tax invoice is associated with.
Options are :
  • B,D,E
  • A,D,E
  • B,C,D
  • A,C,D

Answer : B,C,D

1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 5

Identify two implementation considerations that impact Payables during the closing process.
(Choose two.)
A. Determine how often you will run the Transfer Journal Entries to GL process.
B. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management.
C. Choose the detail option to transfer details to General Ledger during the Create Accounting
process.
D. Review the scheduling of the Create Accounting process to ensure that this is processed before
processing pay runs.
E. Review the scheduling of the Mass Additions Create process to ensure that this is processed
before the Create Accounting process.
Options are :
  • A,B
  • B,E
  • B,D
  • A,C

Answer : A,B

Identify three statements that are true about the withholding tax process. (Choose three.)
A. Tax is automatically calculated at any calculation level.
B. The withholding tax process is a part of Cash Management.
C. Payables automatically generates withholding tax invoices to pay tax authorities.
D. Payables calculates withholding taxes on invoices during the invoice validation process or
during the payment calculation.
E. If the withholding tax is calculated during the invoice validation process, the taxable amount
withheld is the gross amount
Options are :
  • C,D,E
  • B,D,E
  • A,B,C
  • A,B,E

Answer : C,D,E

E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To
implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)
A. Enable "Set as offset tax."
B. Enable "Allow tax recovery."
C. Set the default recovery settlement option to "Deferred."
D. Define tax accounts, tax expense, recoverable tax, and interim tax.
E. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
Options are :
  • A,B,C,D
  • A,B,D,E
  • B,C,D,E
  • A,B,C,E

Answer : B,C,D,E

1Z0-521 Oracle E-Business Suite R12.1Oracle Order Managment Set 1

ABC Corporation has closed their APR-XX accounting period. The APR-XX period started on 27-
MAR-20XX and ended on 26-APR-20XX. To ensure that all accounting from APR-XX has been
sent to General Ledger, they must run two Trial Balance Reports, the Posted Invoice Register, and 
the Posted Payment Register. What dates must be used to run Accounts Payable Trial Balance Reports?
Options are :
  • one run for 26-MAR-20XX and one for 26-APR-20XX
  • one run for 27-MAR-20XX and one for 26-APR-20XX
  • one run for 31-MAR-20XX and one for 30-APR-20XX
  • one run for 01-APR-20XX and one for 30-APR-20XX

Answer : one run for 26-MAR-20XX and one for 26-APR-20XX

Identify the statement that reflects the functionality of the Create Accounting Process.


Options are :

  • You can use the Create Accounting Process to create subledger accounting entries and validate the invoices.
  • The Create Accounting Process is used to create subledger accounting entries and transfer the transactions to General Ledger.
  • The Create Accounting Process creates subledger accounting entries.
  • The Create Accounting Process is used to create subledger accounting entries, and transfer and post the transactions to General Ledger

Answer : The Create Accounting Process creates subledger accounting entries.

Identify three statements that are true about processing automatic withholding tax invoices and
payments. (Choose three.)
A. Withholding distributions for a paid invoice can be reversed.
B. If an invoice is paid or partially paid, withholding distribution cannot be reversed.
C. Payables uses the supplier number as an invoice number for the tax authority's invoice.
D. Withholding tax distributions are automatically created during invoice validation or payment
processing.
E. Payables automatically creates a withholding type distribution when a withholding tax group is
entered in the Invoices window.
Options are :
  • A,D,E
  • B,C,D
  • A,C,D
  • B,D,E

Answer : B,D,E

1Z0-238 R12 Oracle Install,Patch & Maintain Oracle APP Test Set 4

To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must
complete seven fields. Name three. (Choose three.)
A. industry
B. tax amount
C. tax regime
D. commodity
E. supplier site
Options are :
  • B,C,D
  • A,C,E
  • A,C,D
  • B,C,E

Answer : B,C,E

Assume that the withholding tax is calculated at the invoice payment time and the withholding tax
rate is 20%. Identify three statements with the correct withholding tax calculations. (Choose three.)
A. invoice amount $500, withholding tax $100 (20% of $500)
B. invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200)
C. invoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600)
D. invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250)
E. invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100)
Options are :
  • A,D,E
  • B,D,E
  • B,C,D
  • A,C,D

Answer : A,D,E

In the accrual process for perpetual accruals, which two events generate accounting entries that
can be transferred to GL? (Choose two.)
A. processing a receipt
B. entering a purchase order
C. running the period-end accrual program
D. entering invoices and matching them in Payables
Options are :
  • B,C
  • A,C
  • A,D
  • B,D

Answer : A,D

Oracle 1Z0-207 Billing & Revenue Mgmt Pricing Practice Exam Set 2

John is reviewing the clients draft training documents about the Order to Cash life cycle business
processes. Identify four steps that are included in the Order-to-Cash life cycle. (Choose four.)
A. Launching pick release
B. Performing credit check
C. Reconciling bank statements
D. Running AutoInvoice to Receivables
E. Generating the move order manually
Options are :
  • A,B,C,E
  • A,C,D,E
  • A,B,C,D
  • B,C,D,E

Answer : A,B,C,D

Where do you define the attribute that determines whether you will accrue expense items at
receipt or at period end?
Options are :
  • Purchasing Options
  • System Options
  • Payables System Setup Options
  • Payables Options
  • Financial Options

Answer : Purchasing Options

Identify three prerequisites for the Payables period-close process. (Choose three.)
A. resolving holds
B. reconciling bank statementsC. updating matured bills payable
D. completing all receipt processing
E. confirming or canceling all pay runs
F. making adjustments to supplier invoices interfaced to Projects
Options are :
  • A.B.D
  • B,C,D
  • D,E,F
  • A,C,D

Answer : A,C,D

1Z0-521 Oracle E-Business Suite R12 Oracle Order Managment Set 1

At your client site, the Payables period-close processes have been performed. The Payables
transfer to GL has been completed, and the resulting journal entries have been posted to GL. The
current Payables period has been closed. The Accounts Payable Trial Balance (last day of prior
period) + Posted Invoices - Posted Payments equals the Accounts Payable Trial Balance (last day
of current period).
However, the balance in the AP liability account in GL for the current period does not equal the
Accounts Payable Trial Balance (last day of the current period). What is the possible reason?
Options are :
  • Inventory has not closed for the current period.
  • Period-end accrual journals have been reversed in GL.
  • Manual journals have been posted to the AP liability account in the current period in GL.
  • Purchasing has not closed for the current period.

Answer : Manual journals have been posted to the AP liability account in the current period in GL.

Self-assessed tax amounts are taxes that you are liable for, but do not appear on the invoice, such
as use tax. To use self -assessed taxes, enable the Set for Self Assessment/Reverse Charge
option when you define the _____ in the Party Tax Profile.


Options are :

  • set allow manual tax only lines
  • set allow tax recovery
  • recoverable tax information
  • tax registration information

Answer : tax registration information

Identify three purposes for which transaction types can be used. (Choose three.)
A. To record how cash can be applied to transactions
B. To set whether AutoInvoice validates transactions using IDs or values
C. To set whether transactions affect the Accounts Receivable (AR) customer balances
D. To record the accounting flexfield value that would be used for the cash account for
transactions
E. To record the accounting flexfield value that would be used for the receivable account for
transactions
F. To set transaction numbers to be either assigned automatically or entered manually for
transactions
Options are :
  • C,D,F
  • D,E,F
  • A,C,E
  • A,B,D

Answer : A,C,E

Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 17

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