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2016 Jun 1Z0-516 Study Guide Questions:
Q441. It is your first day at a client site to implement Oracle E-Business Suite Release 12. The client wants you to log a Service Request using MetaLink, regarding a problem with the Invoice Workbench form in Oracle Payables. Identify the key information that is required to initiate a Service Request for this client.
A. Error Message Number
B. Brief Problem Statement
C. Customer Support Identifier
D. Oracle Payables Patch Set level
E. Version of the Invoice Workbench form
Q442. 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.
A. Merge the primary ledger and the secondary ledger, and run reports.
B. Transfer adjustment data from the secondary ledger to the primary ledger while running reports.
C. Transfer transactional data from the primary ledger to the secondary ledger while running reports.
D. Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger when running reports.
Q443. You have transferred, closed, and reconciled all subledgers. The sales manager informs you about a material transaction that was completed on the last business day of the closing period.
Select the best option in this situation.
A. Ignoring the transaction in the current period
B. Opening the subledger to enter the transaction
C. Reversing the prior postings and retransferring data from the subledgers
D. Recording a manual accrual journal in the current period and reversing the journal in the next period
Up to the immediate present 1Z0-516 testing engine:
Q444. Identify three true statements regarding Multiple Organization reporting. (Choose three.)
A. Cross Organization reports and multiple Organization reports are the same.
B. Cross Organization reports can be submitted for a Reporting Level of Ledger.
C. Multiple Organization reports can be submitted for a Reporting Level of Ledger.
D. Multiple Organization reports produce outputs for different Operating Units one at a time from a single responsibility.
E. Cross Organization reports produce outputs across different Operating Units in a single report from a single responsibility.
F. Multiple Organization reports produce outputs for different Operating Units in a single report output from a single responsibility.
Q445. You are using the Event Based Revenue Management business rule for revenue recognition.
Your company is on the calendar month for financial reporting. On April 12th of the current year, a customer invoice of $1000 is imported. It has an acceptance clause of 60 days and a cancellation clause of 120 days. On April 28th of the current year, a receipt of $1000 is applied against this invoice. You would recognize revenue of $1000 in the month of _____.
Q446. ABC.com 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. Choose the remaining setup for the calendar to meet the requirement.
A. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month. Define an adjusting period on the last Friday of each quarter.
B. Define 12 monthly periods based on the 4-5-4 calendar ending on the last day of each month. Define an adjusting period on the last day of each quarter.
C. Define 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. Define an adjusting period for each of the last day of the quarter.
D. Define 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 that falls on the last day of the month. Define four adjusting periods on March 31 of the fiscal year.
E. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month. Define four adjusting periods for March 31 of the fiscal year.
Verified 1Z0-516 practice exam:
Q447. 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.)
A. Users can only view the existing data in ABC Operations for the balancing segment value 01.
B. Users have read-only access to the data in some balancing segment values in the ledger set, ABC Global Industries.
C. Users have read and write access to the data in some balancing segment values in the ledger set, ABC Global Industries.
D. Responsibilities using this data access set will have read and write access to the data in ABC Services and all its balancing segment values.
Q448. Identify two features of a table-validated Value Set. (Choose two.)
A. A table-validated Value Set has no list of approved values associated with it.
B. Table-validated Value Sets obtain their lists of approved values from existing application tables.
C. The values in a table-validated Value Set are stored in Oracle Application Object Library's tables.
D. In a table-validated Value Set, you need to enter each value manually using the Segment values window.
E. A table-validated Value Set enables you to use your own application tables as Value Sets for Flexfield Segments.
Q449. Select three levels where additional reporting currency representations can be maintained. (Choose three.)
Q450. ABC Corp. has implemented Oracle Manufacturing applications from Oracle E-Business Suite Release 12. How is the data in the manufacturing applications partitioned?
A. BY Application
B. By Legal Entity
C. By Operating Unit
D. By Business Group
E. By Inventory Organization