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2021 Jun 1Z0-516 free download

Q451. A user attempted to close the Accounts Receivable accounting period and received an error. 

What could be the cause of the error? 

A. AutoInvoice did not run. 

B. There are lockbox interface errors. 

C. Create Accounting program did not run. 

D. There are existing invoice exceptions. 

E. There are AutoInvoice interface errors. 

F. Invoices are entered but not completed. 

G. General Ledger Journal Import did not run. 

Answer: C

Q452. 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. 

A. five 

B. four 

C. two 

D. one 

E. three 

Answer: A

Q453. Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle E-Business Suite Release 12 products. Select the Oracle application that is NOT a Subledger Accounting module. 

A. Assets 

B. Payables 

C. Purchasing 

D. Receivables 

E. General Ledger 

Answer: E

Q454. 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. 

A. Enter receipts, validate data, apply QuickCash 

B. Import bank file, validate data, post QuickCash 

C. Import bank file, enter receipts, validate QuickCash 

D. Enter receipts, import bank file, validate data, post quickcash 

E. Enter receipts, import bank file, validate data, post QuickCash, apply receipts 

Answer: B

Q455. Key Flexfields appear on three types of application forms in Oracle E-Business Suite Release 12. Identify the three types of forms. (Choose three.) 

A. Range form 

B. Custom form 

C. Self Service form 

D. Foreign Key form 

E. Combinations form 

F. Oracle Application Framework 

Answer: ADE

Improve 1Z0-516 exam question:

Q456. You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements: 

1. They want to be able to pay only certain types of suppliers by batch. 

2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention. 

3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued. 

To meet the above requirements, you perform these steps: 

a) Set up suppliers with pay groups for each type, and use them when running the payment batch. 

b) Set up the payment batch with Maximum Outlay equal to $100,000 USD. 

c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD. Which requirements have you met? 

A. 2 and 3 

B. 1, 2 and 3 

C. 1 and 2 

D. 1 and 3 

Answer: D

Q457. To review available Financial Statement Generator elements, which two reports would be helpful? (Choose two.) 

A. Column Set Detail Listing, Report Detail Listing 

B. Content Set Detail Listing, Report Set Detail Listing 

C. Column Set Summary Listing, Row Set Detail Listing 

D. Content Set Detail listing, Chart of Accounts - Rollup Detail Listing 

Answer: C

Q458. Identify three setup options that are defined in the Financial Options window. (Choose three.) 

A. interest 

B. retainage 

C. miscellaneous 

D. expenses clearing 

E. expense AP accrual account 

Answer: BCD

Q459. Which three data elements default from transaction type in Oracle Receivables? (Choose three.) 

A. Legal entity 

B. Accounting 

C. Sales person 

D. Transaction numbering 

E. Payment terms (if not set at the customer level) 

Answer: ABE

Q460. XYZ Enterprises, a US-based export firm, has two offices in the US (East) and the US (West). They use their primary ledger for their US operations, and an additional ledger for management analysis and reporting. They use five segments for their accounting flexfield: company, department, account, product, and future. Select the minimum number of required flexfield qualifiers that they would be using for the accounting structure. (Choose three.) 

A. Future segment 

B. Product segment 

C. Balancing segment 

D. Cost center segment 

E. Department segment 

F. Management segment 

G. Natural account segment 

Answer: CDG