Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 4

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 :

  • Suspense account
  • Gain account
  • Expense account
  • Revenue account
  • Rounding account

Answer :Suspense account

our receivables clerk is confused about entering duplicate receipt numbers in Oracle Receivables. According to the organization's policy, the customers check number is entered as the receipt number while entering manual check receipts. There are instances when the same check number is received from different customers. What do you tell your receivables clerk?


Options are :

  • Oracle Receivables allows entry of duplicate receipt numbers if the receipts are from the same customer.
  • Oracle Receivables allows entry of duplicate receipts if the receipts are from the same batch source.
  • Oracle Receivables allows entry of duplicate receipt numbers if the receipt amount is different from the amount in other receipts with the same receipt number.
  • Oracle Receivables does not allow entry of duplicate receipt numbers if the receipt number, currency, amount, and customer number in a receipt are identical to those in another receipt.
  • Oracle Receivables does not allow entry of duplicate receipt numbers.

Answer :Oracle Receivables does not allow entry of duplicate receipt numbers if the receipt number, currency, amount, and customer number in a receipt are identical to those in another receipt.

1Z0-518 Oracle EBS R12 Receivables Essentials Practice Exam Set 3

All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?


Options are :

  • Reversing journal entries
  • Posting journal entries
  • Consolidating financials
  • Updating the period
  • Translating foreign balances

Answer :Updating the period

ABC Company in India imports baking equipment from XYZ Company in the US A. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)


Options are :

  • XYZ Company is not impacted at all by this rate change.
  • XYZ Company has a positive impact by this rate change.
  • ABC Company is not impacted at all by this rate change.
  • ABC Company has a positive impact by this rate change.

Answer :XYZ Company is not impacted at all by this rate change. ABC Company has a positive impact by this rate change.

Your client has requirements to enter customers, suppliers, and remit-to addresses in country specific formats for the United States, United Kingdom, and Ireland. Which are the three steps required to set up new flexible address formats in Oracle Applications? (Choose three.)


Options are :

  • Creating address style lookup
  • Assigning address style to a specific country
  • Setting up flexible address format in a descriptive flexfield
  • Creating flexible address code
  • Setting up the "Default Address" profile option

Answer :Creating address style lookup Assigning address style to a specific country Setting up flexible address format in a descriptive flexfield

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

Before you can create customer invoices, you have to define customers and your remit-to address. Identify five additional setups that are required before you can create invoices in Receivables. (Choose five.)


Options are :

  • AutoAccounting
  • Receivables transaction types
  • payment terms
  • System and profile options
  • Standard memo line
  • Transaction sources

Answer :AutoAccounting Receivables transaction types payment terms System and profile options Transaction sources

You have just opened the Transactions form. Which field would you see on this form?


Options are :

  • Company
  • Legal entity
  • Cost center
  • Operating unit

Answer :Legal entity

While you are attempting to post entries, you receive this error message: Number of updated GL_BALANCES rows does not equal the number of rows in the GL_POSTING_INTERIM_24697 table. A subsequent SQL script identifies that duplicates have arisen from a summary template ID. What must you do?


Options are :

  • Run the Inherit Segment Values Attribute program because a valid code combination has been preserved.
  • Run the Maintain Summary Template program because a detail account has been added
  • Run the Optimizer program because it would improve the performance of the posting program.
  • Run the Incremental Add/Delete Summary Templates program because there has been a change in the hierarchy structure.

Answer :Run the Incremental Add/Delete Summary Templates program because there has been a change in the hierarchy structure.

1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 8

Which three functions can the Create Accounting Program perform? (Choose three.)


Options are :

  • Validating distribution lines
  • Creating accrual entries
  • Transferring data to the interface table
  • Creating accounting entries
  • Running the journal import

Answer :Transferring data to the interface table Creating accounting entries Running the journal import

Which four transactions are imported by AutoInvoice? (Choose four.)


Options are :

  • Credit memos
  • Invoices
  • Deposits
  • On-account credits
  • Debit memos
  • Guarantees

Answer :Credit memos Invoices On-account credits Debit memos

The customer service department identified an order that was shipped and not invoiced. Identify four potential causes for this occurring. (Choose four.)


Options are :

  • An AutoInvoice validation error exists.
  • Order Management workflow is stuck.
  • The order line has a back order credit hold.
  • AutoInvoice was not run.
  • The invoice lacks an accounting rule.

Answer :An AutoInvoice validation error exists. Order Management workflow is stuck. The order line has a back order credit hold. AutoInvoice was not run.

Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 8

In order for supplementary data sources to be registered in Oracle Bill Presentment Architecture (BPA), they must be interfaced with which Oracle Application?


Options are :

  • Oracle Service Contract
  • Oracle Receivables
  • Oracle Order Management
  • Oracle Projects

Answer :Oracle Receivables

BT Inc. is implementing Oracle Accounts Receivable to interface with an external nonOracle legacy billing system. The client wants Receivables to generate accounting entries, instead of sending accounting data through the interface. Identify four setup items that are used by Receivables to generate the General Ledger (GL) code combinations. (Choose four.)


Options are :

  • Manual receipts
  • Cash receipts
  • Automatic receipts
  • Quickcash receipts
  • Miscellaneous receipts

Answer :Quickcash receipts

You have Oracle Receivables and Trade Management installed to manage claims. You discover that one claim is a split claim, that is, half valid and half invalid. Identify three correct statements about split claims. (Choose three.)


Options are :

  • The originating non-invoice-related claim number would be shown in Receivables with the split number.
  • When a claim is split in Trade Management, the information is not immediately updated in Receivables.
  • Claim information is automatically updated in Receivables when one of the claims is resolved directly from Trade Management.
  • Splits are never shown in Receivables, they look like one claim.
  • The amount of the claim is split in Receivables.

Answer :When a claim is split in Trade Management, the information is not immediately updated in Receivables. Claim information is automatically updated in Receivables when one of the claims is resolved directly from Trade Management. Splits are never shown in Receivables, they look like one claim.

Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 10

Identify four discount basis options available that define how Receivables calculates discounts. (Choose four.)


Options are :

  • Lines only amount
  • Gross amount
  • Lines and tax amount
  • Lines, freight, and tax amount
  • Freight amount
  • Invoice amount

Answer :Lines only amount Lines and tax amount Lines, freight, and tax amount Invoice amount

When you define an assignment rule in Bill Presentment Architecture, you specify one or more criteria for content item values. Select the three items contained in each criterion. (Choose three.)


Options are :

  • Template
  • Condition
  • Value
  • Attribute name
  • Primary data source

Answer :Condition Value Attribute name

You can define a credit hierarchy of parties and party relationships to consolidate and display all credit data for the entire hierarchy in Credit Management. Which profile option should be set to enable this functionality?


Options are :

  • Exchange Protocol: Allow Hierarchy
  • HR: BIS Reporting Hierarchy
  • AR: Credit Hierarchy Type
  • OSC: Reporting Hierarchy
  • HZ: Allow Hierarchy Copy

Answer :AR: Credit Hierarchy Type

1Z0-409 Oracle Linux Fundamentals Practice Test Set 6

Select two ways in which you can complete an invoice. (Choose two.)


Options are :

  • Select the complete check box in the Transactions Summary window.
  • Select the complete check box in the Transactions window
  • Use the Complete button in the Transactions window.
  • Run the concurrent program Complete Transactions.
  • Use the Complete button in the Transactions Summary window
  • Ask the technical developer to run a custom PL/SQL program to update all tables.

Answer :Use the Complete button in the Transactions window. Use the Complete button in the Transactions Summary window

fter creating two new customers, ABC and XYZ, you create and complete an invoice for $105 ($100 plus $5 tax) for customer ABC. You print the invoice and realize that you should have created the invoice for customer XYZ and not for customer ABC. The accounting for the transaction is posted to the General Ledger (GL). Which is the best option to correct the situation?


Options are :

  • Create an on-account credit memo for $105 for ABC. Apply the on-account credit memo to the invoice. Enter and complete the invoice for XYZ.
  • Change the status of the invoice to incomplete. Change the transaction type of the invoice to a transaction type that has class equal to credit memo. Complete the invoice. Enter and complete the invoice for XYZ
  • From the Navigator, select Transactions > Credit Transactions. The Credit Transactions form is displayed; choose your transaction. Click the Credit Balance button, save your work, and then click the Complete button. Enter and complete the invoice for XYZ.
  • Create an adjustment to the invoice for the entire amount, and then create a negative adjustment to the account of XYZ

Answer :From the Navigator, select Transactions > Credit Transactions. The Credit Transactions form is displayed; choose your transaction. Click the Credit Balance button, save your work, and then click the Complete button. Enter and complete the invoice for XYZ.

You are implementing Oracle Receivables and Oracle Trade Management for claim investigation. You often need to create chargebacks to handle short payments and overpayments on invoices sent to your customers. You have a business need to manually number the chargeback transactions in Oracle Receivables to match a chargeback case number. What is true about meeting this requirement?


Options are :

  • Chargebacks in Oracle Receivables always need to be automatically numbered.
  • Chargebacks in Oracle Receivables can be manually numbered if the base numbering option of manual is selected.
  • Chargebacks in Oracle Receivables can be manually numbered.
  • Chargebacks in Oracle Receivables need to be automatically numbered only when document sequencing option of manual is not selected.

Answer :Chargebacks in Oracle Receivables always need to be automatically numbered.

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

You mail your customer John Doe an invoice for $1000 for the supplies he ordered. John has the option of making his payment either by check or by credit card. John elects to use his credit card. This receipt is identified as a(n) _____ .


Options are :

  • Autolockbox receipt
  • Quickcash receipt
  • Manual receipt
  • Miscellaneous receipt
  • Automatic receipt

Answer :Automatic receipt

Identify three tables that can be used to import billing data into Oracle Receivables. (Choose three.)


Options are :

  • RA_INTERFACE_SALESCREDITS_ALL
  • RA_INTERFACE_HEADERS_ALL
  • RA_INTERFACE_LINES_ALL
  • RA_INTERFACE_SALES_ALL
  • RA_INTERFACE_DISTRIBUTIONS_ALL

Answer :RA_INTERFACE_SALESCREDITS_ALL RA_INTERFACE_LINES_ALL RA_INTERFACE_DISTRIBUTIONS_ALL

The board of directors of Acme Enterprises decide to float two new ompanies: Acme Construction and Acme Exports. hey want to implement Oracle General Ledger. They want to restrict access across these new companies. Only the Vice President (Finance) must have complete access. Identify two correct statements. (Choose two.)


Options are :

  • Create one data access set and provide read and write access to Acme Enterprises, and read only access to Acme Construction and Acme Exports.
  • Create only three data access sets: one for Acme Enterprises, one for Acme Construction, and one for Acme Exports.
  • Create one primary ledger for Acme Enterprises.
  • Create four data access sets: one with read and write access for all companies and the rest with read and write access for the respective balancing segment values for each company.
  • Create one primary ledger for Acme Enterprises, one for Acme Construction, and one for Acme Exports.

Answer :Create one primary ledger for Acme Enterprises. Create four data access sets: one with read and write access for all companies and the rest with read and write access for the respective balancing segment values for each company.

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

Organizations have unique credit policies that aid in managing their collections and establishing relationships with customers. Describe the two dimensions on which Oracle Credit Management is based. (Choose two.)


Options are :

  • Various analysis of prior billing period and receipt history of customers
  • Various analysis of customers on the basis of the aging of their outstanding balances
  • Various customer credit classifications
  • Various credit review types identified by collectors

Answer :Various customer credit classifications Various credit review types identified by collectors

Your client has sales tax requirements that involve two types of sales tax. The first sales tax applies to all customers. The second sales tax is based on where the company ships the goods. All goods are taxable; however some customers who resell the goods are exempted from the second sales tax. Choose three applicable options to set up sales tax for your client. (Choose three.)


Options are :

  • Item exemptions for both sales taxes
  • Tax group for the combination of the two tax classification codes
  • Customer tax exemptions for the second sales tax
  • Customer exemptions for the first sales tax
  • Tax classification code for exempt tax

Answer :Tax group for the combination of the two tax classification codes Customer tax exemptions for the second sales tax Tax classification code for exempt tax

Transaction numbering is set up using _____.


Options are :

  • Transaction types
  • Transaction sources
  • System options
  • AutoAccounting

Answer :Transaction sources

1Z0-330 Oracle Fusion Workforce Compensation Cloud Test Set 5

Which three data elements default from transaction type in Oracle Receivables? (Choose three.)


Options are :

  • Sales person
  • Legal entity
  • Payment terms (if not set at the customer level)
  • Transaction numbering

Answer :Sales person Legal entity

Jane, the GL accountant, says that she had heard about the budget upload functionality of Oracle General Ledger and had been eager to test it. However, she was unable to test it in the Conference Room Pilot (CRP) instance. What would be your explanation?


Options are :

  • The budget dates in the budget organization have a different date range.
  • The budget status may be frozen.
  • The GL account code combination is invalid.
  • The GL period is closed.
  • Budget journals are required at the ledger level.

Answer :Budget journals are required at the ledger level.

Select two features regarding the completion of a successful customer merge in Oracle Receivables that support ongoing customer data cleansing efforts after go-live. (Choose two.)


Options are :

  • Customer transactions or audit transactions details for the merge-from customer remain available for reprinting after the customer merge process.
  • Bank details for the merge-from customer remains available after the merge process.
  • Duplicate customers are repointed to the surviving customer after the customer merge process.
  • Duplicate parties are repointed to the surviving party after the customer merge process.
  • Customer sites associated with the old customer or site are associated with the new customer or site after the customer merge process.
  • Customer merge activity can be reversed after the merge process.

Answer :Duplicate customers are repointed to the surviving customer after the customer merge process. Customer sites associated with the old customer or site are associated with the new customer or site after the customer merge process.

1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 9

ABC Corp. has a requirement that all budget entries are made through journals. Identify one choice where this can be accomplished.


Options are :

  • Journal types
  • Journal sources
  • Ledger setup
  • Budget organizations
  • Journal categories

Answer :Ledger setup

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

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