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2016 Jun 1Z0-517 exam prep

Q131. During the entry or update of expense reports in the Payables Expense Report window, holds can be applied on an expense report. These holds are carried forward to the invoice created from the expense report in Payables. Which statement is true?

A. Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window.

B. Any number of user-defined holds and only one system hold can be applied on one expense report in the Payables Expense Report window.

C. Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window.

D. Any number of user-defined holds and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Answer: A


Q132. ABC.com wants to create invoices for suppliers on the basis of purchase order (PO) receipts.

Which three steps should the company take in Payables? (Choose three.)

A. Enable Gapless numbering

B. Enable the invoice match option

C. Enable pay on receipt at site level

D. Submit the pay on Receipt Auto Invoice Program

Answer: ACD


Q133. Multiple Reporting Currencies (MRC) has been enabled for your client Company A. Which method would you recommended to your client for transferring accounting entries to GL using the payables transfer to GL process?

A. Transfer to GL with journal import for the primary set of Books. Repeat the process for each Reporting set of books individually

B. Transfer to GL with Journal import for the primary set of books and all associated Reporting sets of books together

C. Transfer to GL without journal import for the primary set of books. Submit journal import for the primary set of books. Repeat these steps for each reporting set of books

D. Transfer to GL without journal import for the primary set of books and all associated reporting sets of books together. Submit Journal import from GL for the primary set of books and all associated reporting books together

Answer: B


Q134. Before you can pay or create accounting entries for an invoice, the Invoice Validation process must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.)

A. invoice date

B. supplier site

C. trading partner

D. supplier number

E. invoice description

Answer: ACD


Q135. Identify three statements that are true for the automatic withholding tax process. (Choose three.)

A. Withholding tax type distributions are negative amounts.

B. The Withholding tax group can be assigned only to an invoice distribution.

C. Using automatic withholding tax, Payables creates the correct withholding tax distributions.

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

E. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.

Answer: CDE


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Q136. The transaction Sweep Report generated as part of the payables close process shows some payments. What are the possible reasons? (Choose all that apply.)

A. The payments were voided

B. The checks associated with the payments were not printed

C. One or more of the invoices paid by the payments were not accounts

D. The cash account code combination of the payments has been disabled

E. The suppliers for which the payments have been made have deactivated

Answer: CD


Q137. The purpose of the Unrealized Gain / Loss Report is to review unrealized gains and losses on _____________.

A. All invoices

B. Foreign currency invoices

C. All invoices due to inflation effects

D. All invoices due to inflation effects

E. All invoices due to changes in the AP setup

Answer: B


Q138. You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside of the system, but your client does not want to manually record them because that would be too time consuming. What would be the best solution?

A. Create Electronic Payment batches using a check payment method for those multiple suppliers and destroy those checks

B. Create electronic payment batches using an electronic payment method, such as Electronic

Funds Transfer (EFT), for those multiple suppliers and then do not send the resulting electronic file to the bank

C. Create electronic payment batches using a clearing payment method for those multiple suppliers, because this payment method does not generate a file

D. Create electronic payment batches using a wire payment method for those multiple suppliers and then delete the resulting electronic file

Answer: D


Q139. The GL accountant has defined the budget and wants the assistant accountants to enter and update the budget. The GL accountant wants this budget to be the default. What would be your response?

A. If the client wants to do this, the budget status must be open.

B. If the client wants to do this, the budget status must be current.

C. The Oracle General Ledger budget functionality cannot satisfy this requirement.

D. If the client wants to do this, customization of Oracle Workflow is the only option.

Answer: B


Q140. Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of the cost center segment. A business unit is a group of cost centers, and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements?

A. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers; creating FSG based on the rollup groups

B. defining parent cost centers and a hierarchy of parent/child cost centers; creating summary accounts based on the parent cost centers; creating FSG based on the parent cost center values

C. defining parent cost centers and a hierarchy of parent/child cost centers; defining summary accounts for the parent cost centers; creating FSG based on the parent cost center values or summary accounts

D. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts

Answer: D