Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 14

Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)


Options are :

  • Withholding distributions for a paid invoice can be reversed.
  • If an invoice is paid or partially paid, withholding distribution cannot be reversed.
  • Payables uses the supplier number as an invoice number for the tax authority's invoice.
  • Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.
  • Withholding tax distributions are automatically created during invoice validation or payment processing.

Answer :If an invoice is paid or partially paid, withholding distribution cannot be reversed. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window. Withholding tax distributions are automatically created during invoice validation or payment processing.

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 asset cost account associated with an asset category in Assets
  • the asset clearing account associated with an asset category in Assets
  • the material account associated with the inventory organization

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

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

In the accrual process for period-end accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)


Options are :

  • entering invoices and matching them in Payables
  • running the period-end accrual program
  • processing a receipt
  • entering a purchase order

Answer :entering invoices and matching them in Payables running the period-end accrual program

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 statuses
  • tax rates
  • tax regimes
  • taxes

Answer :taxes

Identify three E-Business Tax setup options. (Choose three.)


Options are :

  • set up tax recovery rates
  • set up supplier
  • set up tax regimes
  • set up taxes and tax rates
  • set up currency exchange

Answer :set up tax recovery rates set up tax regimes set up taxes and tax rates

OCA Oracle Database 10g Administrator I-1Z0-042 & II-1Z0-043 Set 4

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 natural account segment can have only a T designation.
  • 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.

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

XYZ Corp. must complete the subledger account process and perform other period-end closing activities. Payables must validate and account for the remaining invoices that have system holds. Select the period-end processing order to be followed assuming that there are no error transactions.


Options are :

  • create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting
  • invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting
  • journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger

Answer :invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting

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 :

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

Answer :Subledger-level reporting currency only

Oracle 1Z0-207 Billing & Revenue Mgmt Pricing Practice Exam Set 7

To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must complete seven fields. Name three. (Choose three.)


Options are :

  • commodity
  • tax regime
  • supplier site
  • tax amount
  • industry

Answer :tax regime supplier site tax amount

AutoLockbox execution employs a multistep process. These steps can be submitted individually or at the same time from the Submit Lockbox Processing window. Identify the correct sequential combination of steps that are executed while running the AutoLockbox concurrent process in Oracle Receivables.


Options are :

  • Enter receipts, import bank file, validate data, post quickcash
  • Import bank file, enter receipts, validate QuickCash
  • Enter receipts, validate data, apply QuickCash
  • Enter receipts, import bank file, validate data, post QuickCash, apply receipts
  • Import bank file, validate data, post QuickCash

Answer :Import bank file, validate data, post QuickCash

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.)


Options are :

  • invoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600)
  • invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100)
  • invoice amount $500, withholding tax $100 (20% of $500)
  • invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250)
  • invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200)

Answer :invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100) invoice amount $500, withholding tax $100 (20% of $500) invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250)

1Z0-969 Oracle Payroll Cloud 2017 Implementation Essentials Set 3

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 :

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

Answer :Interface Lines window

Identify three functions that the Create Accounting program provides. (Choose three.)


Options are :

  • generates the Posted Journal Report for subledger journal entries
  • generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program
  • allows you to update final journal entries before the Transfer to General Ledger process is run
  • applies the application accounting definitions that are created in Accounting Builder (ABM)
  • transfers final journal entries in the current batch run to General Ledger
  • validates and creates subledger journal entries

Answer :generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program transfers final journal entries in the current batch run to General Ledger validates and creates subledger journal entries

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?


Options are :

  • Allow Override for Calculated Tax Lines
  • Allow Recalculation for Manual Tax Lines
  • Allow Tax Recovery
  • Allow Entry of Manual Tax Lines
  • Allow Withholding Tax
  • Allow Manual Tax Only Lines

Answer :Allow Override for Calculated Tax Lines

Oracle 12c SQL Certified Associate 1Z0-071 Real Exam 2019 Set 1

Sam, the CFO of XYZ Company, finds that in the expenditure budget of the current year, there are many funds available in the stationery account, whereas there is not much amount left for employee travel expenses. Sam instructs the budget analyst John to transfer 80% of the stationery account to the travel expenses account. While transferring the amount, John encountered errors and approached Sam for a resolution. Sam reviews the situation and clarifies it to John. Choose what Sam would have explained to John.


Options are :

  • There must be some budgetary control enabled on the travel expenses, and a transfer can be made only after a funds check.
  • There must be some budgetary control enabled on the stationery and travel expenses accounts, and a transfer can be made only after a funds check.
  • There must be some budgetary control enabled on the stationery account, and a transfer can be made only after a funds check.
  • It is not possible to transfer amount from one account to another unless the absolute amount is known. So John should have calculated 80% of the stationery account and then tried to make the transfer.

Answer :There must be some budgetary control enabled on the stationery account, and a transfer can be made only after a funds check.

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 :

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

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

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 subcomponent of Tax Content Services. (Choose two.)


Options are :

  • tax condition sets
  • country default controls
  • determining factor sets
  • basic tax configuration
  • tax jurisdictions
  • exemptions and exceptions

Answer :tax condition sets determining factor sets

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

Identify the table used to load procurement card transactions.


Options are :

  • AP_Invoice_Lines_Interface
  • AP_Invoices_Interface
  • AP_Expense_Feed_Lines_All
  • AP_Card_Codes

Answer :AP_Expense_Feed_Lines_All

When you validate an invoice in Payables, E-Business Tax automatically performs four tasks. (Choose four.)


Options are :

  • allocates tax amounts
  • updates imported invoices into Payables
  • creates distributions
  • recalculates tax lines
  • places tax-related holds on the invoice

Answer :allocates tax amounts creates distributions recalculates tax lines places tax-related holds on the invoice

Identify two advantages of using Oracle Internet Expenses. (Choose two.)


Options are :

  • Expense reports that are entered using Internet Expenses are visible in Payables.
  • Expense report template attributes are defined in Internet Expenses to manage expense types.
  • Enforcement of spending policy controls expenses, showing any policy deviations.
  • It improves cycle times by routing expense reports via a workflow.

Answer :Enforcement of spending policy controls expenses, showing any policy deviations. It improves cycle times by routing expense reports via a workflow.

1Z0-208 Oracle Comm Billing & Revenue Mgmt Server Developer Set 3

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 :

  • One
  • Four
  • Three
  • Five
  • Two

Answer :Five

Identify three statements that are true about the withholding tax process. (Choose three.)


Options are :

  • Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation.
  • Payables automatically generates withholding tax invoices to pay tax authorities.
  • If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.
  • The withholding tax process is a part of Cash Management.
  • Tax is automatically calculated at any calculation level.

Answer :Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation. Payables automatically generates withholding tax invoices to pay tax authorities. If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.

Identify three statements that are true for E-Business Tax. (Choose three.)


Options are :

  • E-Business Tax provides seeded tax registration types for local organizations.
  • E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation.
  • E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface.
  • E-Business Tax provides a single point solution for managing your transaction-based tax requirements.
  • E-Business Tax transactions are strictly controlled and cannot be changed.

Answer :E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation. E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface. E-Business Tax provides a single point solution for managing your transaction-based tax requirements.

1Z0-520 Oracle EBS R12.1 Purchasing Essentials Practice Test Set 8

When summary account templates are associated with the check-level advisory of budgetary control funds, which are the two items that must be associated with the template? (Choose two.)


Options are :

  • The currency must be identified.
  • The boundary must be identified.
  • The funding budget must be identified.
  • The formula must be identified.

Answer :The boundary must be identified. The funding budget must be identified.

Select the four activities that are NOT part of the Payables closing process. (Choose four.)


Options are :

  • confirm payment batches
  • review the Uninvoiced Receipts Report
  • process period-end receipt accruals
  • process the remaining Inventory transactions
  • close the Payables period
  • close the General Ledger period

Answer :review the Uninvoiced Receipts Report process period-end receipt accruals process the remaining Inventory transactions close the General Ledger period

Identify three statements that are true about E-Business Tax and Payables. (Choose three.)


Options are :

  • Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices.
  • In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
  • With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.
  • Payables is not integrated with E-Business Tax to provide tax services for invoices.
  • In E-Business Tax, tax calculations are based on supplier's site defaults.

Answer :Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices. In E-Business Tax, there is one repository with detailed and fully allocated tax lines. With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.

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

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.)


Options are :

  • Enable "Allow tax recovery."
  • Set the default recovery settlement option to "Deferred."
  • Enable "Set as offset tax."
  • Define tax accounts, tax expense, recoverable tax, and interim tax.
  • Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.

Answer :Enable "Allow tax recovery." Set the default recovery settlement option to "Deferred." Define tax accounts, tax expense, recoverable tax, and interim tax. Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.

Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.)


Options are :

  • You can set up a special calendar to define periods that Payables uses for automatic withholding tax.
  • The Withholding Tax Report is prepared by suppliers.
  • There can be multiple withholding tax codes with multiple tax authorities assigned to a group.
  • The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with.
  • The Withholding Tax Group defaults in from the supplier or supplier site.

Answer :You can set up a special calendar to define periods that Payables uses for automatic withholding tax. There can be multiple withholding tax codes with multiple tax authorities assigned to a group. The Withholding Tax Group defaults in from the supplier or supplier site.

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
  • the number of invoice lines
  • the self assessed taxes in the Tax Details window

Answer :the amount of another distribution

1Z0-330 Oracle Fusion Workforce Compensation Cloud Test Set 3

ABC Company's requirement is that all mass allocation journals must be approved by using the journal approval process. When the company accountant enters his or her mass allocation journals, these journals must be routed to his or her manager for approval, then to the CFO, and finally to the CEO for review and final approval. Select the option that would help ABC Company meet this requirement.


Options are :

  • Go direct to the person with sufficient authorization limit
  • Go up the management chain
  • One stop go direct
  • Go to peers

Answer :Go up the management chain

Oracle 12c SQL Certified Associate 1Z0-071 Real Exam 2019 Set 4

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