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 Nov 1Z0-516 test question
Q531. Identify two features of Oracle Workflow in Oracle E-Business Suite Release 12. (Choose two.)
A. Enhances data security
B. Helps you focus on managing individual business transactions
C. Has each activity in a workflow as a PL/SQL function or a notification or a subprocess
D. Can integrate business functions only between business processes within a single company
E. Can integrate business processes within an enterprise, as well as between different organizations and different systems
Q532. ABC Inc. is in the process of consolidating the financial data entry functions. There are three divisions: A, B, and C. They are defined as three separate Operating Units that share a Legal Entity and a Business Group.
To meet your client's requirement, you perform these actions:
1.Create a standard security profile and assign it to the three Operating Units.
2.Consolidate responsibilities and assign the MO:Security Profile option with the security profile created.
3.Run the Security List Maintenance program.
4.Create a global security profile and assign it to the three Operating Units.
Select the sequence of steps to be performed.
A. 1, 2, 4
B. 4, 2, 3
C. 4, 3, 2
D. 1, 2, 3
E. 1, 3, 2
Q533. After discussions with the client, the implementation team decides that the GL Autoallocation functionality would help satisfy the clients requirements to automatically allocate the rent and other expenses to all the departments based on the defined formula. The GL accountant comes to you with a requirement that the approver of the journal should be automatically informed once the journal is generated. What is your response?
A. Cross-validation rules must be defined to satisfy this requirement.
B. Dynamic Insert must be enabled to satisfy this requirement.
C. Autoallocation uses Workflow, so there is no problem in satisfying this requirement.
D. It is not possible to satisfy this requirement.
Q534. Identify the order of steps that are involved in the Diagnostics Framework business flow for Subledger Accounting.
1. Enable SLA: Enable Diagnostics is set at the user or responsibility level.
2. Submit the Transaction Objects Diagnostics concurrent request.
3. Submit the Create Accounting program.
4. Enable Trace.
A. 1, 3 ,2
B. 1, 2, 3
C. 2, 3, 1
D. 3, 1, 2
E. 4, 1, 2
Q535. If the user has to set Multi-Org preferences, the System Administrator has to assign _____.
A. The User Preferences function to the responsibility
B. The Multi-Org preferences menu to the responsibility
C. The User Preferences menu item to the responsibility
D. The Multi-Org preferences function to the responsibility
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Q536. Organizations have unique credit policies that aid in managing their collections and establishing relationships with customers. Describe the two dimensions on which Oracle Credit Management is based. (Choose two.)
A. Various customer credit classifications
B. Various credit review types identified by collectors
C. Various analysis of prior billing period and receipt history of customers
D. Various analysis of customers on the basis of the aging of their outstanding balances
Q537. You are defining the Invoice Descriptive Flexfield (DFF) in Oracle Payables, and a warning message appears during DFF compilation. What is this warning message?
A. There is no context defined in the DFF.
B. The DFF does not contain a Reference field.
C. There is no segment defined in the DFF structure.
D. The DFF uses features that are supported only in Oracle Forms.
E. The "Synchronize with Reference Field" check box is not enabled.
Q538. Which statement best describes stages in the credit review process?
A. Initiating a credit review, data collection, data analysis, making and implementing the recommendations
B. Defining a profile class, assigning it to customers, setting up the scoring model, and starting the workflow background process
C. Manually reviewing customers' past billing and payment history, initiating discussions with customers, and implementing recommendations
D. Manually initiating a review by sending out mails to customers requesting information, reviewing and making recommendations, and implementing recommendations after approval
Q539. Select the two minimum set up steps for intercompany accounting. (Choose two.)
A. Define a value set for the Company and Intercompany segments.
B. Set up intercompany accounts for journal source and journal category of Other.
C. Set up intercompany accounts for every journal source and journal category for intercompany transactions.
D. Define a clearing company for all many-to-many intercompany journals.
E. Include an Intercompany segment in the chart of accounts structure.
F. Define a journal source and a journal category for Intercompany.
G. Enable the Intercompany Qualifier for the Intercompany segment.
H. Enable Balance Intercompany Journal when defining the set of books.
Q540. A clerk from ABC Inc., receives a customer receipt that does not have sufficient information to identify the customer or invoice. Which is the correct method of entering the receipt in Oracle Accounts Receivable?
A. Enter the receipt as an unapplied receipt.
B. Enter the receipt as an unidentified receipt.
C. Enter the receipt as an on-account receipt.
D. Enter the receipt as a miscellaneous receipt.
E. Enter the receipt by applying it to a dummy customer account.