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2021 Aug 1Z0-516 study guide
Q391. A client is implementing ACH and has a business requirement that all invoices go through an approval process flow. Identify three features of the Invoice Approval Workflow that would meet their requirement. (Choose three.)
A. allows automatic resubmission of an invoice if rejection occurs
B. has predefined criteria to identify which invoices require approval
C. allows approval routing management from one central responsibility
D. provides automatic routing of invoices upon approval to another designated approver
E. allows for corrections to invoices to be made while still in the approval routing process
F. provides time limits as to how long an invoice can remain unapproved before being automatically rerouted to the next approver
Q392. Identify two features of the Notification System in Oracle Workflow. (Choose two.)
A. Executes workflow rules and functions
B. Enables any user with access to the Internet to be included in a workflow process
C. Notifies the loading of a workflow process definition file from a flat file to a database
D. Leverages Oracle Advanced Queuing to enable business events to communicate across systems
E. Provides access to the worklist from Oracle E-Business Suite Release 12 through the worklist web pages
Q393. In a Multi-Org Access Control scenario, the profile option used to derive the Operating Unit for determining the tax code on GL Journals comes from _____.
A. MO: Operating Unit
B. MO: Security Profile
C. GL: Data Access Set
D. HR: Business Group
E. MO: Default Operating Unit
Q394. Which two options would you use to restrict the functionality provided by a responsibility? (Choose two.)
A. Creating an appropriate role
B. Creating an appropriate group
C. Constructing a new menu hierarchy
D. Defining rules to exclude specific functions
Q395. Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process?
A. Invoice Register
B. Create Accounting
C. Invoice Audit Listing
D. Payables Posted Payment Register
Abreast of the times 1Z0-516 free practice questions:
Q396. Which is the correct sequence of steps in planning your summary accounts?
(1) planning the summary account structure
(2) planning the parent segment values and rollup groups needed for summary accounts
(3) determining summary account needs
(4) planning summary account templates to generate multiple summary accounts
A. 2, 3, 1, 4
B. 3, 1, 2, 4
C. 1, 2, 3, 4
D. 2, 1, 3, 4
Q397. ABC.com would like a consolidation process to consolidate operations in the UK and US. ABC.com requires a summary of transactions from both companies. Company 01 is located in Chicago; Company 02 is located in London. Both companies share only the same calendar. Which actions should be considered when defining the consolidation process for ABC.com? (Choose all that apply.)
A. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.
B. Select the transaction method for transferring data from Company 01 to Company 90.
C. Define an elimination set to include a group of related elimination entries.
D. Define mapping rules to map Company 01 and Company 02 to Company 90.
Q398. All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?
A. Updating the period
B. Posting journal entries
C. Consolidating financials
D. Reversing journal entries
E. Translating foreign balances
Q399. Computer Operations Inc. has its headquarters in Frankfurt. It uses two ledgers: one for corporate accounting (primary) and another for statutory reporting (secondary). Both ledgers have different charts of accounts and accounting calendars but use EUR as the functional currency. It has a subsidiary in California, which uses its own chart of accounts and the USD currency. Identify two options by which Computer Operations Inc. can consolidate their global operations. (Choose two.)
A. A secondary ledger must be defined for California.
B. Consolidation can be done by mapping between the California secondary ledger and the Frankfurt secondary ledger.
C. A new ledger set must be defined, which will group the Frankfurt primary ledger and the California secondary ledger.
D. The chart of accounts and calendar of the Frankfurt secondary ledger must be the same as that of the California secondary ledger.
Q400. ABC.com, the GL accountant, says that the budget for which she is trying to enter data requires budget journals, but she wants to enter budget amounts directly. You check the budget setups and confirm that the Require Budget Journal option is not enabled at the set of books level. What could be cause of Tess's problem?
A. The Require Budget Journal option is enabled at the budget level.
B. The Budget status is Frozen.
C. The budget organization is not properly defined.
D. The Allow Preparer Approval profile option is not enabled.
E. Data is being entered in a closed period.