The particular Oracle 1Z0-516 questions and answers tend to be up to date by our own technical engineers live. Youll get the latest simulated check concerns which can be in step with the existing Oracle exam. More notably, the revise date extended to A hundred and eighty times, showing that you may have 50 percent a seasons time for you to research 1Z0-516 puts.

2016 Jul 1Z0-516 free practice exam

Q461. After creating two new customers, LeftBank and RightSide, you create and complete an invoice for $105 ($100 plus $5 tax) for LeftBank. You immediately realize that you should have created the invoice for RightSide. Which three steps can you take to correct the situation? (Choose three.) 

A. Change the status of the invoice to incomplete. Delete the invoice, and then enter and complete the invoice for RightSide. 

B. Change the status of the invoice to incomplete. Change the customer in the invoice to RightSide. Complete the invoice. 

C. Create an adjustment to the invoice for the entire amount, and then create a negative adjustment to the account of RightSide. 

D. Create an on-account credit memo for $105 for LeftBank. Apply the on-account credit memo to the invoice. Enter and complete the invoice for RightSide. 

E. Change the status of the invoice to incomplete. Change the transaction type of the invoice to a transaction type that has creation sign equal to negative sign. Complete the invoice. Enter and complete the invoice for RightSide. 

Answer: ABD


Q462. Identify the conditions that must exist before you can apply an advance against an expense report. 

A. The prepayment type is temporary and has been fully applied. 

B. The prepayment type is temporary and has not been fully applied. 

C. The prepayment type is permanent, has been validated, and not canceled. 

D. The prepayment type is permanent and no active holds exist for the prepayment. 

Answer: B


Q463. Identify the two invoice types processed by the Payables Open Interface process. (Choose two.) 

A. standard 

B. prepayment 

C. debit memos 

D. credit memos 

Answer: AD


Q464. Client A has three legacy systems that contain this financial information: purchase orders, suppliers, receipts, invoices, accruals, and expense reports. The client must have much of this information loaded into Oracle Accounts Payable daily until they can effectively retire these three systems. Identify the best approach that involves minimal customization. 

A. Develop custom interfaces for receipts and accruals, and use the invoice import process to bring in other information. 

B. Use Invoice Import to bring in invoice and invoice accrual information. The rest requires custom interfaces to be developed. 

C. Use Invoice Gateway to bring in invoice information, and Supplier Import for suppliers. The rest requires custom interfaces to be developed. 

D. Use Invoice Import to bring in all the above information after setting the correct profile options and defining the appropriate AP and non-AP transaction sources. No custom interfaces are needed. 

E. Use Invoice Gateway to bring in the invoice, invoice accrual, and expense report information; and Supplier Import to bring in supplier information. The rest requires custom interfaces to be developed. 

Answer: A


Q465. Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.) 

A. Withholding distributions for a paid invoice can be reversed. 

B. If an invoice is paid or partially paid, withholding distribution cannot be reversed. 

C. Payables uses the supplier number as an invoice number for the tax authority's invoice. 

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

E. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window. 

Answer: BDE


certifyforall.com

Regenerate 1Z0-516 practice test:

Q466. In the accrual process for period-end accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.) 

A. processing a receipt 

B. entering a purchase order 

C. running the period-end accrual program 

D. entering invoices and matching them in Payables 

Answer: CD


Q467. To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. You can set these options at the Event Class, Configuration Owner, or Tax level. 

Under the manual tax options (Event Class, Configuration Owner, or Tax level), which common capability is found? 

A. Allow Tax Recovery 

B. Allow Withholding Tax 

C. Allow Manual Tax Only Lines 

D. Allow Entry of Manual Tax Lines 

E. Allow Override for Calculated Tax Lines 

F. Allow Recalculation for Manual Tax Lines 

Answer: E


Q468. Identify three correct statements about the Operating Unit in a Multi-Org model of Oracle E-Business Suite Release 12. (Choose three.) 

A. It is the highest level in the Multi-Org structure. 

B. It is an organization type that secures transaction data. 

C. An Operating Unit can be assigned to multiple Legal Entities. 

D. An Operating Unit can be associated with a single Legal Entity. 

E. Multiple Operating Units can be assigned to a single responsibility. 

Answer: BDE


Q469. Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason's three correct points. (Choose three.) 

A. GIS enables intercompany transactions to be approved after transfer from AP and AR. 

B. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books. 

C. Intercompany journals are created automatically as soon as they are approved. 

D. You can set up GIS so that the sender's transactions do not need to be approved by the receiver. 

E. If a sender approves the transaction but the receiver rejects it, the transaction is recalled. 

F. Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value. 

G. You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated. 

Answer: DFG


Q470. A _____ is a container for a unique set of information on a Daily Business Intelligence overview page. 

A. Report 

B. Region 

C. Dashboard 

D. Key Performance Indicator 

Answer: B