Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 5

To define the primary ledger, which account is always required?


Options are :

  • Reserve for encumbrance account
  • Suspense account
  • Entered currency balancing account
  • Unrealized profit/loss account
  • Realized profit/loss account
  • Retained earnings account

Answer :Retained earnings account

To create a party paying relationship, the relationship type must be hierarchical and the party type must be _______.


Options are :

  • Parent
  • Organization
  • Person
  • Child
  • Person or organization

Answer :Organization

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

Identify the two tasks that you can achieve by using sequential numbering. (Choose two.)


Options are :

  • Sequentially number GL and subledger journal entries.
  • If you use journal- or subledger-level reporting currencies and when sequences are defined for the source ledger (such as the primary or secondary ledger), the sequence number generated for the source ledger is automatically assigned to the reporting currency journal.
  • Enable gapless sequence numbers.
  • Enable sequential invoice numbers.

Answer :Sequentially number GL and subledger journal entries. Enable gapless sequence numbers.

Identify two correct statements about the transaction flexfields for the Receivables AutoInvoice interface tables. (Choose two.)


Options are :

  • Reference transaction flexfields are used to associate a specific tax line with a specific transaction line.
  • Reference transaction flexfields are used to apply a credit memo to an invoice or associate an invoice with a specific commitment.
  • Link-to transaction flexfields are used to associate a specific tax line with a specific transaction line.
  • Link-to transaction flexfields are used to apply a credit memo to an invoice or associate an invoice with a specific commitment.

Answer :Reference transaction flexfields are used to apply a credit memo to an invoice or associate an invoice with a specific commitment. Link-to transaction flexfields are used to associate a specific tax line with a specific transaction line.

ABC Enterprise wants to achieve processing efficiencies in its accounts closing cycle. It has multiple ledgers and needs to summarize balances across ledgers. ABC Enterprise is security conscious and wants to restrict user access on ledgers. All its ledgers share the same chart of accounts and accounting calendar or period-type combination. Identify which functionality of Oracle General Ledger serves the need of ABC Enterprise.


Options are :

  • Consolidation
  • Data access sets
  • Balance transfers
  • Ledger sets
  • Ledgers

Answer :Ledger sets

Oracle 12c SQL Certified Associate 1Z0-071 Real Exam 2019 Set 3

AutoLockbox uses attributes to identify a customer for each AutoLockbox receipt. Which five attributes for AutoLockbox are used to identify the customer? (Choose five.)


Options are :

  • Transaction number using the auto associate option
  • Sales order number
  • Customer number
  • Balance forward bill number using the auto associate option
  • MICR number
  • Receipt number (which is often the check number)

Answer :Transaction number using the auto associate option Sales order number Customer number Balance forward bill number using the auto associate option MICR number

For any scoring model, you can define a set of automation rules to guide the implementation of credit decisions without user intervention. Under what situation are automation rules preferred?


Options are :

  • When credit risk defined by an enterprise's policies is unrated
  • When credit risk defined by an enterprise's policies is high
  • When credit risk defined by an enterprise's policies is moderate
  • When credit risk defined by an enterprise's policies is minimal

Answer :When credit risk defined by an enterprise's policies is minimal

Identify two mandatory attributes for grouping rules. (Choose two.)


Options are :

  • GL date (GL_DATE)
  • Sales order (SALES_ORDER)
  • Currency (CURRENCY_CODE)
  • Accounting rule (ACCOUNTING_RULE_ID)

Answer :GL date (GL_DATE) Currency (CURRENCY_CODE)

1Z0-519 Oracle E-Business Suite R12.1 Inventory Essentials Set 3

XYZ Corporation is headquartered in Dubai with a branch in Kuwait. Dubai uses a weekly calendar and Kuwait uses a monthly calendar. The plan is to close the Kuwait operations and open a new branch in Bangalore. The Kuwait secondary ledger will be deleted and the new Bangalore secondary ledger will be added. Bangalore will use a different chart of accounts from that of Dubai and will use a weekly calendar. Select two valid statements. (Choose two.)


Options are :

  • If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal entries.
  • Deleting the Kuwait ledger is possible after the accounting setup of the Dubai ledger is complete.
  • After adding the Dubai ledger, the ledger options step must be completed.
  • There is no mapping required from the Dubai ledger to the Bangalore ledger.

Answer :If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal entries. After adding the Dubai ledger, the ledger options step must be completed.

ABC Metal Corporation has three legal entities that share the same chart of accounts, accounting calendar, currency, subledger accounting method, and ledger processing options. They have additional accounting requirements: 1. All legal entities share the same primary ledger attributes. 2. None of the legal entities have special requirements to open and close accounting periods independent from the others. 3. All legal entities engage in intercompany accounting. 4. For month-end consolidation purposes, ABC Metal Corporation wants to keep their consolidation adjustments and elimination entries completely separate from the day-to-day transactions of their legal entities. Based on these requirements, select two considerations that are true for the accounting setup. (Choose two.)


Options are :

  • Specific balancing segment values need not be assigned to each ledger.
  • Secondary ledgers cannot be added for an additional accounting representation.
  • Specific balancing segment values must be assigned to each legal entity.
  • Intercompany accounts must be defined to use the intercompany accounting feature.

Answer :Specific balancing segment values must be assigned to each legal entity. Intercompany accounts must be defined to use the intercompany accounting feature.

Which are the three formats in which late charges can be presented to your customers? (Choose three.)


Options are :

  • Adjustment
  • Interest invoice
  • Debit memo
  • Add-on fees
  • Credit memo
  • Chargeback

Answer :Adjustment Interest invoice Debit memo

1Z0-521 Oracle E-Business Suite R12 Oracle Order Managment Set 3

Select three statements that apply to iReceivables. (Choose three.)


Options are :

  • It is geared towards call centers, as well as credit and collections departments.
  • It is a Web-based self-service application
  • It can be used to verify the status of invoices and receipts.
  • It can be used to initiate the Oracle Approvals Management (AME) credit memo request workflow.

Answer :It is a Web-based self-service application It can be used to verify the status of invoices and receipts. It can be used to initiate the Oracle Approvals Management (AME) credit memo request workflow.

Which three statements are true about AutoAccounting? (Choose three.)


Options are :

  • AutoAccounting does not allow you to override default accounts in the Transactions Distribution window.
  • AutoAccounting allows you to flexibly define the default account mapping for each segment in your chart of account structure.
  • AutoAccounting is used to determine default general ledger accounts for manual invoices and for invoices created by AutoInvoice.
  • You define AutoAccounting before you enter transactions in Receivables

Answer :AutoAccounting allows you to flexibly define the default account mapping for each segment in your chart of account structure. AutoAccounting is used to determine default general ledger accounts for manual invoices and for invoices created by AutoInvoice. You define AutoAccounting before you enter transactions in Receivables

Identify three entities that can become a party in Oracle Trading Community Architecture (TCA). (Choose three.)


Options are :

  • A personal relationship
  • An individual customer
  • A business organization
  • A business contact email
  • A business mailing address
  • A business contact telephone

Answer :A personal relationship An individual customer A business organization

Oracle 1Z0-207 Billing & Revenue Mgmt Pricing Practice Exam Set 4

ABC Company in India exports raw materials to XYZ Company in the USA. There is an outstanding invoice of INR 90,000,000 to be paid in two months. The USD-to-INR rate when the transaction was completed was 45. Now the USD-to-INR rate has changed from 45 to 40. 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. (Choosetwo.)


Options are :

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

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

Jack is implementing Oracle General Ledger for ABC Corporation. The management wants the definition of data access set with full ledger access set type for its four ledgers/ledger sets as shown here: Balancing Segment Value Data Access Set Type Ledger/Ledger Set Balancing Segment Value Privileges ABC Services All Read and Write ABC Operations 01 Read-Only ABC Operations 20 (Parent of child values 21-29) Read and Write ABC Global Industries Ledger Set All Read and Write Select two correct statements in this scenario. (Choose two.)


Options are :

  • Users have read-only access to the data in some balancing segment values in the ledger set, ABC Global Industries.
  • Users have read and write access to the data in some balancing segment values in the ledger set, ABC Global Industries.
  • Users can only view the existing data in ABC Operations for the balancing segment value 01.
  • Responsibilities using this data access set will have read and write access to the data in ABC Services and all its balancing segment values.

Answer :Users can only view the existing data in ABC Operations for the balancing segment value 01. Responsibilities using this data access set will have read and write access to the data in ABC Services and all its balancing segment values.

Select four key system options in Oracle Receivables that are related to customers. (Choose four.)


Options are :

  • Default country
  • Receipt method
  • Automatic site numbering
  • Create reciprocal customer
  • Automatic customer numbering
  • Allow payment of unrelated transactions

Answer :Automatic site numbering Create reciprocal customer Automatic customer numbering Allow payment of unrelated transactions

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

Identify two reasons why ABC Company would use Oracle Business Intelligence (BIS) as one of their reporting tools. (Choose two.)


Options are :

  • Executive-level information about earnings per share and current ratios can be obtained.
  • Provide a secured and centralized location to produce and manage point-in-time reports.
  • Perform ad hoc query, reporting, analysis, and Web publishing.
  • Create consolidated reports and perform consolidation for companies that share the same ledger.
  • Monitor the business at a high level and obtain performance measures by using business metrics.

Answer :Executive-level information about earnings per share and current ratios can be obtained. Monitor the business at a high level and obtain performance measures by using business metrics.

You have the option to define your own accounting rules in Oracle Subledger Accounting to meet your implementation's business requirements by using ______.


Options are :

  • AutoCash rule sets
  • The Revenue Accounting Management wizard
  • The accounting methods builder
  • Application rule sets

Answer :The accounting methods builder

Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the parent segment values while defining the MassAllocation formulA. What would be your response?


Options are :

  • Whether you can do this depends on the responsibility.
  • You can do this only if Allow Dynamic Insert is enabled.
  • Whether you can do this depends on the formula.
  • You can customize the workflow and then do this.
  • You can do this only if there is a summary account associated with the parent.

Answer :You can do this only if there is a summary account associated with the parent.

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

Identify three profile options that affect the integration of Oracle Receivables with other Oracle applications. (Choose three.)


Options are :

  • AR: Change Customer on Transaction
  • AR: Application GL Date Default
  • OM: Item Flexfield
  • EB Tax: Invoice Freight as Revenue
  • EB Tax: Inventory Item for Freight

Answer :OM: Item Flexfield EB Tax: Invoice Freight as Revenue EB Tax: Inventory Item for Freight

What does the concurrent program Automatic Reversal do? (Choose two.)


Options are :

  • Generates and posts reversal journals if the journal reversal criteria has the AutoReverse and AutoPost reversals enabled for the category
  • Generates reversals for all journals in a date range
  • Generates reversals for the journal batches that you specify
  • Generates reversal journals for all journal categories that have AutoReverse enabled

Answer :Generates and posts reversal journals if the journal reversal criteria has the AutoReverse and AutoPost reversals enabled for the category Generates reversal journals for all journal categories that have AutoReverse enabled

The Receivables QuickCash functionality enables you to_____.


Options are :

  • Apply receipts using Mass Apply window
  • Apply receipts at invoice line level
  • Create adjustments and chargebacks for debit items with applied receipts
  • Apply receipts at invoice header level only

Answer :Apply receipts at invoice header level only

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

Identify two credit memo options that are available in Oracle Receivables. (Choose two.)


Options are :

  • Invoice lines
  • Tax only
  • Advance
  • Paid amount only
  • Paid freight

Answer :Invoice lines Tax only

Identify two correct statements about Oracle Receivables. (Choose two.)


Options are :

  • Transfer to General Ledger can transfer transaction accounting entries after the transactions are entered and saved.
  • Receivables transactions cannot be changed after they are printed.
  • Errors in the AutoInvoice are sent to the Interface Exceptions table.
  • Receipt accounting can be transferred after the receipts are entered and saved.
  • AutoAccounting is only used for the imported transactions.

Answer :Errors in the AutoInvoice are sent to the Interface Exceptions table. Receipt accounting can be transferred after the receipts are entered and saved.

Which table stores information about contingencies that impact revenue recognition for imported transactions?


Options are :

  • RA_INTERFACE_ERRORS_ALL
  • RA_INTERFACE_LINES_ALL
  • AR_INTERFACE_CONTS_ALL
  • RA_INTERFACE_DISTRIBUTIONS_ALL
  • RA_INTERFACE_SALESCREDITS_ALL

Answer :AR_INTERFACE_CONTS_ALL

OCA Oracle 12C Administration (1Z0-062) Practice Test Set 3

Horizon Real Estate Company usually issues rent invoices to its tenants at the beginning of every quarter. It recognizes the monthly rent revenue on the first day of each month. However, some tenants are required to make the monthly rent payments in two installments, that is on the15th and the last day of the month. Which two statements are correct about the possible solutions for this business requirement? (Choose two.)


Options are :

  • Accounting rules can be set to allow customers to make payments in two installments.
  • Accounting rules can be set to defer the monthly rent revenue.
  • Payment term can be set to allow customers to make payments in two installments.
  • Payment term can be set to defer the monthly rent revenue.
  • Invoicing rules can be set to defer the monthly rent revenue.
  • Invoicing rules can be set to allow customers to make payments in two installments.

Answer :Accounting rules can be set to defer the monthly rent revenue. Payment term can be set to allow customers to make payments in two installments.

XYZ Company uses financial statement generator reports to produce profit and loss statements and balance sheet reports. Occasionally, XYZ Company needs to run a report that is slightly different from the standard ones that have been created. Identify two types of changes the XYZ Company can make by using the Row Order feature to accomplish this need. (Choose two.)


Options are :

  • Changing how rounding options are performed
  • Adding a new calculation
  • Displaying segment values and descriptions
  • Sorting based on column values

Answer :Displaying segment values and descriptions Sorting based on column values

Which form can you use to set up automatic transaction numbering?


Options are :

  • System Options
  • Transaction Sources
  • Transaction Types
  • Profile Options

Answer :Transaction Sources

Oracle 1Z0-516 EBS R12 General Essential Practice Exam Set 12

Select four processes that are facilitated by the credit management workflow. (Choose four.)


Options are :

  • Gathering prospect credit data
  • Analyzing prospect credit data
  • Gathering organization account credit data
  • Analyzing customer account credit data for individuals
  • Implementing credit decisions for organizations
  • Implementing credit decisions for individuals

Answer :Gathering prospect credit data Analyzing prospect credit data Gathering organization account credit data Implementing credit decisions for organizations

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

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