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2016 Jun 1Z0-516 exam answers

Q291. John is reviewing the clients draft training documents about the Order to Cash life cycle business processes. Identify four steps that are included in the Order-to-Cash life cycle. (Choose four.) 

A. Launching pick release 

B. Performing credit check 

C. Reconciling bank statements 

D. Running AutoInvoice to Receivables 

E. Generating the move order manually 

Answer: ABCD


Q292. Identify four discount basis options available that define how Receivables calculates discounts. 

(Choose four.) 

A. Gross amount 

B. Freight amount 

C. Invoice amount 

D. Lines only amount 

E. Lines and tax amount 

F. Lines, freight, and tax amount 

Answer: CDEF


Q293. During a period, several preapproved batches of miscellaneous transactions were entered and released. The project manager informs you that he is unable to view the accounting in the expenditure inquiry form. Which process was likely omitted? 

A. streamline costs 

B. distribute costs 

C. interface costs 

D. tieback costs 

Answer: B


Q294. Identify three features of Daily Business Intelligence. (Choose three.) 

A. Provides a cross-enterprise reporting capability 

B. Requires a data warehouse setup for its implementation 

C. Creates a separate subset of transactions in a new database 

D. Is based on a single, transactional database for all products and customers 

E. Provides planning, execution, and reporting capabilities to optimize business performance 

Answer: ADE


Q295. Your 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? 

A. Oracle Receivables does not allow entry of duplicate receipt numbers. 

B. Oracle Receivables allows entry of duplicate receipts if the receipts are from the same batch source. 

C. Oracle Receivables allows entry of duplicate receipt numbers if the receipts are from the same customer. 

D. 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. 

E. 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. 

Answer: E


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Up to date 1Z0-516 free practice questions:

Q296. ABC.com is a $2 million company operating from the U.S., and has one set of books. It is spinning off from its parent company and will be operating as an independent company. It is considering implementing Oracle Financials but wants the product to work exactly in the same way as its legacy systems from its parent company. What considerations should be presented to ABC in order for it to make a well-informed decision? (Choose all that apply.) 

A. Patching is simplified on a non-customized Oracle implementation. 

B. Adding customizations to replicate the legacy system could increase cost of future upgrades. 

C. Integration issues between modules are reduced when there are no customizations. 

D. No information can be interfaced from the legacy system to the product. 

Answer: ABC


Q297. Identify three statements that are true for the automatic withholding tax process. (Choose three.) 

A. Withholding tax type distributions are negative amounts. 

B. The Withholding tax group can be assigned only to an invoice distribution. 

C. Using automatic withholding tax, Payables creates the correct withholding tax distributions. 

D. Withholding tax distributions are automatically created during invoice validation or during payment processing. 

E. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice. 

Answer: CDE


Q298. One of ABC.com's clients wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit is a group of cost centers and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements? 

A. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts. 

B. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the Rollup Groups. 

C. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values. 

D. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the parent cost center values. 

E. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts. 

Answer: A


Q299. You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the U.S. but has a presence in many countries worldwide, and has transactions in multiple currencies. 

The implementation team decides that GL multi currency setup will be part of the implementation. 

ABC.com's management in the U.S. wants to see all the transactions in U.S. dollars, whereas the management in Europe wants to see the transactions in euros. 

The CFO has stated this requirement: 

While entering the daily transactions the user should have the ability to enter the current exchange rate, but at month end the assets and liabilities in euros could be converted into U.S. dollars at the monthly average exchange rate. 

Can this requirement be satisfied? 

A. Account generator needs to be customized to satisfy this requirement. 

B. Oracle GL does not support this functionality. 

C. Workflow needs to be customized to satisfy this requirement. 

D. Oracle GL provides this functionality and there is no problem in satisfying the requirement. 

Answer: D


Q300. 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? 

A. When credit risk defined by an enterprise's policies is high 

B. When credit risk defined by an enterprise's policies is minimal 

C. When credit risk defined by an enterprise's policies is unrated 

D. When credit risk defined by an enterprise's policies is moderate 

Answer: B