1Z0-517 Oracle EBS R12.1 Payables Essentials Practice Exam Set 8

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

Answer : C,D,E

Which report would provide information about the processing type (parallel or sequential) that may be defined for reports? 


Options are :

  • FSG Report Summary Listing
  • FSG Row Set Summary Listing
  • FSG Content Set Summary Listing (Correct)
  • FSG Report Detail Listing

Answer : FSG Content Set Summary Listing

XYZ Corporation has five segments in its accounting flex field. For a special profit-and-loss report, they want to sort by the fourth segment, which is "product." Select the element that would meet this need. 


Options are :

  • content set
  • row order (Correct)
  • column set
  • row set

Answer : row order

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 3

ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use? 


Options are :

  • Use both sub ledger-level and adjustment-level secondary ledger conversion.
  • Use sub ledger-level secondary ledger conversion.
  • Use journal-level secondary ledger conversion. (Correct)
  • Use adjustment-level secondary ledger conversion.

Answer : Use journal-level secondary ledger conversion.

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 :

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

Answer : B,C

Michael is responsible for the accounting setup. Here is the list of accounts for the accounting setup structure mapped to their requirement.
1. suspense account - suspense posting
2. reserve for encumbrance account - exchange rate gain/loss
3. non-postable net income account - average balance processing
4. ledger currency balancing account - for using Oracle sub ledgers and balance sub ledger journals by the entered currency and balancing segment value
5. entered currency balancing account - for using Oracle sub ledgers and balance foreign currency sub ledger journals by the ledger currency and balancing segment value Identify two correct mappings of accounts. (Choose two.)
A. 1
B. 2
C. 3
D. 4
E. 5 


Options are :

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

Answer : A,C

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 4

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)
A. have similar ledger processing options
B. open and close periods simultaneously
C. have tax requirements that are specific for a legal entity
D. require autonomous document sequencing for a legal entity
E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes 


Options are :

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

Answer : A,B,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 :

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

Answer : A,C

ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the quarter's final calendar month.Select the remaining setup for the calendar to meet the requirement. 


Options are :

  • defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter (Correct)
  • defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining four adjusting periods for March 31 of the fiscal year
  • defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining an adjusting period on the last Friday of each quarter
  • defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month; defining an adjusting period on the last day of each quarter

Answer : defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 6

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 :

  • two
  • three (Correct)
  • one
  • four

Answer : three

The GL user entered a taxable journal and posted it. Later, the user realized that the tax code entered was wrong. What must the user do? 


Options are :

  • Delete the journal and reenter it.
  • Un post the journal and reenter it.
  • Modify the tax code at the line level.
  • Reverse and reenter the journal. (Correct)

Answer : Reverse and reenter the journal.

ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution report is automatically created. Identify three components on which the Create Journal Entries Execution report reports. (Choose three.)
A. Budget Journals
B. Posted Journals report
C. Payables encumbrance entries
D. Purchasing encumbrance entries 


Options are :

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

Answer : A,C,D

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

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 :

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

Answer : A,B,D

Select two statements that are true about ledgers in Oracle General Ledger. (Choose two.)
A. Each accounting setup requires a primary ledger.
B. Each accounting setup requires a primary ledger and a reporting ledger.
C. Each accounting setup requires a primary ledger and an adjustment-only secondary ledger.
D. Each accounting setup optionally requires one or more secondary ledgers and reporting currencies. 


Options are :

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

Answer : A,D

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 :

  • 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.
  • Inform the customer that this requirement would require a customization.
  • Select the change sign check box for the related row or column definition. (Correct)

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

1Z0-520 Oracle EBS R12.1 Purchasing Essentials Practice Test Set 4

The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger. They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes. As an implementation consultant, what one recommendation would you make to meet the above requirement? 


Options are :

  • Create two primary ledgers with the standard accrual method.
  • Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods. (Correct)
  • Create a primary ledger with standard cash, and a reporting ledger with standard accrual.
  • Create two primary ledgers with the standard cash method.

Answer : Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.

In the course of implementing Oracle General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. These reports have been tested and you are now ready to create them in your production environment. You are ready to run the FSG Transfer program. What two requirements are necessary to run this program? (Choose two.) A. Database links must be defined.
B. The same ledgers must be defined in both instances.
C. Enable the FSG: AutoCopy profile option in the production environment.
D. The same row and column sets must exist in the production environment.


Options are :

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

Answer : A,B

Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)
A. Attach the fiscal calendar.
B. Define rows and columns.
C. Build a report by using rows and columns.
D. Specify the default ledger for ledger sets.
E. Determine which rows and columns make up your report. 


Options are :

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

Answer : A,D

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

Treeline Company is getting ready to complete its month-end process. It needs to create a profitand-loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.)
A. row set
B. report set
C. workbook
D. column set
E. content set 


Options are :

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

Answer : A,D

You set the GL: Journal Review Required profile option to "Yes." Identify the result. 


Options are :

  • requires review of recurring journals before posting
  • requires all journals to be reviewed before posting
  • requires review of a journal entered in GL by the approver before posting
  • requires generated Auto Allocation journals to be reviewed before posting (Correct)

Answer : requires generated Auto Allocation journals to be reviewed before posting

John has created two ledgers: one primary and one secondary. The primary ledger stores transactional data and the secondary ledger stores only adjustments. The secondary ledger shares the same chart of accounts, accounting calendar or period-type combination, and currency
as the associated primary ledger. John wants to obtain a complete accounting representation that includes both transactional data and adjustments while running reports. Identify the best option. 


Options are :

  • Merge the primary ledger and the secondary ledger, and run reports.
  • Transfer transactional data from the primary ledger to the secondary ledger while running reports.
  • Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger when running reports. (Correct)
  • Transfer adjustment data from the secondary ledger to the primary ledger while running reports.

Answer : Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger when running reports.

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 5

Company A wants to distribute the rent expense to its various departments on the basis of floor space. It has taken these steps:
1) capturing the floor space that is used by each department in a statistical account
2) creating a journal entry for the rent Identify the next two steps required to distribute the rent cost to the various departments. (Choose
two.)
A. posting the journal
B. defining the MassAllocation journal
C. defining and generating MassAllocation
D. creating manual journal entries for distributing the rent 


Options are :

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

Answer : A,C

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 :

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

Answer : C,E

ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US (West) has budgetary control enabled and the US (East) requires approvals for journals. All operations share the same chart of accounts, accounting calendar, and subledger accounting
method. The US (West) and the US (East) operate on the USD currency. The UK's currency is GBP, whereas France operates on the EUR currency. Identify the least number of legal entities and accounting setups to be created. 


Options are :

  • 1 legal entity and 4 accounting setups
  • 3 legal entities and 3 accounting setups
  • 4 legal entities and 1 accounting setup
  • 4 legal entities and 4 accounting setups (Correct)

Answer : 4 legal entities and 4 accounting setups

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 6

The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.)
A. Update accounting options.
B. Approve accounting options.
C. Complete the accounting setup.
D. Create an accounting setup structure. 


Options are :

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

Answer : A,C,D

XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments. All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained. Identify the number of legal entities to be created and the number of accounting setups. 


Options are :

  • Create four legal entities and four accounting setups. (Correct)
  • Create four legal entities and one accounting setup.
  • Create two legal entities and four accounting setups.
  • Create one legal entity and four accounting setups.

Answer : Create four legal entities and four accounting setups.

Identify two places where you can define a legal entity. (Choose two.)
A. set of books
B. data access set
C. Legal Entity Configurator
D. HRMS organization setup
E. Accounting Setup Manager 


Options are :

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

Answer : C,E

1Z0-520 Oracle EBS R12.1 Purchasing Essentials Practice Test Set 3

Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of the cost center segment. A business unit is a group of cost centers, and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements? 


Options are :

  • defining parent cost centers and a hierarchy of parent/child cost centers; creating summary accounts based on the parent cost centers; creating FSG based on the parent cost center values
  • defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers; creating FSG based on the rollup groups
  • defining parent cost centers and a hierarchy of parent/child cost centers; defining summary accounts for the parent cost centers; creating FSG based on the parent cost center values or summary accounts
  • defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts (Correct)

Answer : defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts

You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes. They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements. Choose two statements that are true in the given scenario. (Choose two.)
A. The secondary ledger contains day-to-day transactions.
B. The primary ledger must contain only management adjustments.
C. The secondary ledger represents the complete management picture.
D. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.
E. Use ledger sets to combine primary and secondary ledgers to get the complete management
picture.


Options are :

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

Answer : D,E

Choose the maximum number of secondary ledgers that can be assigned to a primary ledger. 


Options are :

  • one per primary ledger with a reporting currency
  • one per primary ledger
  • two per primary ledger
  • unlimited (Correct)

Answer : unlimited

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

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