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2016 Oct 1Z0-516 exam question

Q191. Which statement is FALSE about the Stop Payments Report? 

A. Use this report to review all current stop payments. 

B. Payables lists stop payments that were voided at a later time. 

C. Payables does not list stop payments that were voided at a later time. 

D. Payables does not list stop payments that were initiated, but then released at a later time. 

Answer: B


Q192. The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a closed period. You check the setup and confirm that the GL period in which he was able to post the budget journal was closed. What explanation do you give? 

A. The budget year is open. 

B. The budget status is frozen. 

C. The budget status is current. 

D. The Require Budget Journal profile option is set at the set of books level. 

Answer: A


Q193. ABC.com has two diverse business operations in retail stores and services. It has five legal entities in Canada and five in the United States for both operations. The fiscal year end is the same for all the legal entities with 12 monthly periods. However, ABC.com wants to use a 4-5-4 accounting calendar for its retail operations and a calendar-month accounting calendar for the services operations. ABC.com also wants to use a single chart of accounts structure. Which five items must ABC.com define to meet the minimum setup steps that are required for the sets of books for all legal entities? (Choose five.) 

A. two accounting calendars 

B. four sets of books 

C. three sets of books 

D. two sets of books 

E. chart of accounts structure 

F. period types or use seeded ones 

G. one accounting calendar 

H. enable seeded CAD and USD currencies 

I. account combinations 

Answer: ABEFH


Q194. After you define a credit analyst, you can modify any of the analyst's information, except _____. 

A. Employee and group 

B. Employee and username 

C. Organization and territory 

D. Cost center and employee 

E. Username and organization 

F. Group and group member role 

Answer: B


Q195. Jane is the financial controller of ABC Corporation. ABC Corporation has three legal entities: ABC East, ABC West, and ABC South. She was advised by the Oracle General Ledger consultant that there is no need for any balancing segment values to be assigned to the legal entities or ledgers. She is worried as to which values will be available for transactions and journal entries. Identify the right option in the given scenario. 

A. All balancing segment values will be available to enter transactions and journal entries. 

B. No balancing segment values will be available to enter transactions and journal entries. 

C. ABC East and ABC West balancing segment values will be available to enter transactions and journal entries. 

D. ABC East and ABC South balancing segment values will be available to enter transactions and journal entries. 

E. ABC South and ABC West balancing segment values will be available to enter transactions and journal entries. 

Answer: A


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Up to the immediate present 1Z0-516 free exam questions:

Q196. Choose three tables that will be populated when the Journal Import process is run with the option to post set as "Yes." (Choose three.) 

A. GL_JE_LINES 

B. GL_JE_BATCHES 

C. GL_JE_HEADERS 

D. GL_JE_SOURCES 

E. GL_IMPORT_REFERENCES 

Answer: ABC


Q197. Which three are true about internal bank accounts? (Choose three.) 

A. They are defined to disburse funds to suppliers. 

B. They are defined for receiving payment from customers. 

C. They are defined to disburse electronic payments from your customers. 

D. They are defined for receiving electronic payments made to your suppliers. 

E. Internal accounts define bank accounts for which you are the account holder. 

Answer: ABE


Q198. ABC.com has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart of accounts (COA) structure. The COA structure also has an Intercompany segment (with Intercompany Qualifier) that uses the same value set as the Company segment. Which three options will best use GL Intercompany functionality, given the multiple sets of books that share a common COA? (Choose three.) 

A. Enable security for the Company segment, and define appropriate security rules, and assign them to the responsibility for each set of books. 

B. Enable the profile option that automatically creates intercompany accounting across sets of books. 

C. Enable the Balance Intercompany Journal option when defining each set of books. 

D. Create a clearing company for each set of books to handle many-to-many intercompany accounting in each set of books. 

E. Enable security for the Company and Intercompany segments, and define appropriate security rules, and assign them to the responsibility for each set of books. 

Answer: ACD


Q199. You are implementing Oracle General Ledger at a client site. The client 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. The GL accountant tells you that the companys outstanding loans in Europe in euros, and at every month end there is a need to revalue and report these loans in US dollars on the current exchange rate. She wants a system that automatically performs this revaluation using the month-end exchange rates. She wants to know whether this requirement can be satisfied. What is your response? 

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

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

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

D. Oracle GL does not support this functionality. 

Answer: A


Q200. The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the miscellaneous receipt needs to be reversed. Which method would you advise the client to use? 

A. Carry out a standard reversal of the miscellaneous receipt. 

B. Carry out a debit memo reversal of the miscellaneous receipt. 

C. Create a receivable activity adjustment for the reversal of the miscellaneous receipt. 

D. Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt. 

E. Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt. 

Answer: A