Exam Code: 1Z0-516 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 General Ledger Essentials
Certification Provider: Oracle
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2021 Oct 1Z0-516 answers

Q321. Identify three characteristics of Oracle HTML-based Applications (formerly known as Self-Service Applications). (Choose three.) 

A. Use Oracle Forms for interface 

B. Use metadata dictionary for flexible layout 

C. Operate by direct connection to Web server 

D. Ability to re-establish dropped network connections 

E. Dynamically generate HTML pages by executing Java code 

Answer: BCE

Q322. A global company uses Oracle E-Business Suite Release 12 for its operations in the U.S. and Canada. The company is now adding Mexico to the Oracle E-Business Suite Release 12 Applications. As a system administrator, you need to set the MO: Operating Unit profile option for Mexico. Customer is not using Multi-Org Access Control. You set the MO: Operating Unit profile option at the _____ level. 

A. Site 

B. User 

C. Application 

D. Responsibility 

Answer: D

Q323. You receive a request to create a new menu. Instead of creating a new menu, you modify an existing menu and save it to a different User Menu Name. What happens after saving the menu with a different User Menu Name? 

A. There will be two menus. 

B. The original menu is disabled. 

C. The new menu will not contain any functions. 

D. The new menu will overwrite the original menu. 

Answer: D

Q324. Identify the component in Subledger Accounting that enables you to meet the requirements of multiple accounting representations for an event. 

A. Event Definition 

B. Event Classification 

C. Subledger Accounting Method 

D. Application Accounting Definition 

Answer: D

Q325. Choose the reason why Tina is unable to view the subledger entries from Oracle Payables in the Oracle General Ledger module. She has run the transfer program that completes successfully. 

A. Journal Import is not submitted. 

B. The Journal source is not defined. 

C. The Journal category is not defined. 

D. Payables is not integrated with General Ledger. 

Answer: A


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Q326. What is the effect of summary accounts on the efficiency of the posting process? 

A. There is no effect, because summary accounts do not use the posting process to accumulate values. 

B. Use of summary accounts decreases the efficiency of the posting process. 

C. Use of summary accounts neither increases nor decreases the efficiency of the posting process. 

D. Use of summary accounts increases the efficiency of the posting process. 

Answer: B

Q327. Symba Manufacturing International has a requirement to match Cost of Goods Sold (COGS) and Revenue. They have asked your help in implementation. In this context, which two dependencies and interactions are true? (Choose two.) 

A. Cost Management performs COGS recognition (or Cost Accounting). 

B. Cost Management integrates with Oracle Receivables for invoice creation. 

C. Cost Management integrates with Oracle Receivables for revenue information. 

D. Cost Management provides order and return information to Oracle Receivables. 

E. Cost Management notifies Oracle Receivables when an order is closed without billing. 

Answer: AC

Q328. Identify the four reports you must run when reconciling invoices and payments to the Accounts Payable Trial Balance Report. (Choose four.) 

A. Void Check Register 

B. Posted Invoices Report 

C. Posted Payments Report 

D. Accounts Payable Trial Balance - prior period 

E. Payables Transfer to General Ledger Reports 

F. Accounts Payable Trial Balance - current period 

G. Account Analysis - (132 Char) / Account Analysis - (180 Char). 

Answer: BCDF

Q329. You are on a phased-approach implementation. Payables and Purchasing are being implemented in Phase One, and Assets in Phase Two. Identify three choices in the process for the best way to discuss supplier naming conventions and supplier site naming conventions. (Choose three.) 

A. Agree upon naming conventions. 

B. Gather only the Payables and Purchasing personnel. 

C. Document conventions and obtain the sign-off by authorized approvers later. 

D. Document conventions and obtain the sign-off by authorized approvers immediately. 

E. Gather all interested parties for requirements-including Assets, Payables and Purchasing. 

Answer: ADE

Q330. The client's GL accountant comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem? 

A. The profile option GL: Allow Preparer Approval must be reset. 

B. One of the GL account code combinations in the journal is invalid. 

C. Authorization limits have not been defined properly and the GL period is closed. 

D. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal. 

Answer: D