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2021 Jun 1Z0-517 free practice test
Q1. At ABC.com's site, under payables options, the transfer to GL option has been set to summarize by accounting period. The period end close processes for accounts parable have run and the payables journals (Purchase invoices and payments) have been created and posted in General Ledger. Which statement is true?
A. Drilling down from the journals of purchase invoices and payments categories in GL to payables is possible
B. Drilling down from the journals of the payment category in GL to payables is possible, but drilling down from journals of the purchase invoices category in GL to payables is not possible
C. Drilling down from the journals of the purchase invoices category in GL is possible but drilling down from journals of the payments category in GL to payables is not possible
D. Drilling down from GL to payables is not possible
Q2. Where do you define the attribute that determines whether you will accrue expense items at receipt or at period end?
A. System Options
B. Financial Options
C. Payables Options
D. Purchasing Options
E. Payables System Setup Options
Q3. What is a benefit of the secondary tracking segment?
A. Additional security ensures that correct accounts are selected while entering transactions.
B. The Management segment is enabled automatically when the secondary segment is defined.
C. More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts.
Q4. Using the Payables System Setup Options form, you can enable autonumbering for _____.
E. expense reports
Q5. Identify three options available to manage cash requirements. (Choose three.)
A. Include Only Due.
B. Change Pay Groups.
C. Select Payment Terms.
D. Select additional Pay Through Days.
E. Narrow the selection of invoices in pay run.
Up to the immediate present 1Z0-517 practice exam:
Q6. Treeline Company is getting ready to complete its month-end process. It needs to create a profitand- loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.)
A. row set
B. report set
D. column set
E. content set
Q7. Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)
A. Withholding distributions for a paid invoice can be reversed.
B. If an invoice is paid or partially paid, withholding distribution cannot be reversed.
C. Payables uses the supplier number as an invoice number for the tax authority's invoice.
D. Withholding tax distributions are automatically created during invoice validation or payment processing.
E. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.
Q8. Select the four activities that are NOT part of the Payables closing process. (Choose four.)
A. confirm payment batches
B. close the Payables period
C. close the General Ledger period
D. process period-end receipt accruals
E. review the Uninvoiced Receipts Report
F. process the remaining Inventory transactions
Q9. Company ABC has implemented Oracle Payables. They have decided not to define supplier bank accounts. They will use payment batches, quick payments, and manual payment processing. Select three payment methods that are available based on the company's requirements. (Choose three.)
D. electronic funds transfer (EFT)
E. electronic data interchange (EDI)
F. extensible markup language (XML)
Q10. Michael is responsible for the accounting setup. Here is the list of accounts for the accounting setup structure mapped to their requirement.
1. suspense account - suspense posting
2. reserve for encumbrance account - exchange rate gain/loss
3. non-postable net income account - average balance processing
4. ledger currency balancing account - for using Oracle subledgers and balance subledger journals by the entered currency and balancing segment value
5. entered currency balancing account - for using Oracle subledgers and balance foreign currency subledger journals by the ledger currency and balancing segment value
Identify two correct mappings of accounts. (Choose two.)