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2016 Jul 1Z0-517 exam question

Q201. In the accrual process for perpetual accruals, which two events generate accounting entries that can be transferred to GL? (Choose two.)

A. processing a receipt

B. entering a purchase order

C. running the period-end accrual program

D. entering invoices and matching them in Payables

Answer: AD


Q202. When you validate an invoice in Payables, E-Business Tax automatically performs four tasks. (Choose four.)

A. creates distributions

B. recalculates tax lines

C. allocates tax amounts

D. places tax-related holds on the invoice

E. updates imported invoices into Payables

Answer: ABCD


Q203. 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


Q204. Identify three key accounts to be considered during the implementation of Payables that impacts the reconciliation of the accounts payable liability accounts. (Choose three.)

A. AP liability account

B. accrual charge account

C. receiving accrual account

D. accrued Payables account

E. receiving inventory account

F. expense AP accrual account

G. inventory AP accrual account

Answer: AFG


Q205. You are at a client site that has thousands of suppliers in their current legacy system that will end up in the Oracle Production system. Before conversion, you must perform a supplier cleanup on these numerous names and sites. Which three naming conventions would you use for "Best Practices" during the supplier cleanup? (Choose three.)

A. Use Last Name, First Name to identify employees as suppliers.

B. Create some supplier names in uppercase and others in mixed case.

C. Use abbreviations in the supplier name even it is not abbreviated on the invoice.

D. Remove all punctuation marks (commas, periods, and so on) from the supplier name.

E. Use the exact spelling of a supplier name as it appears on the invoice for the naming convention.

Answer: ADE


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Avant-garde 1Z0-517 exam cram:

Q206. ABC Company wants to compare consolidated actuals against consolidated budgeted amounts. Identify the two steps that must be performed to provide ABC Company with this information. (Choose two.)

A. Run the Trial Balance report.

B. Execute an online budget inquiry.

C. Execute an online account inquiry.

D. Review the Account Analysis report.

E. Run financial statement generator reports.

Answer: CE


Q207. Exhibit:


ABC.com has the following requirements:

1. Asset invoices are entered in AP daily, but assets are transferred to Oracle Assets only once a week

2. Payables Journal entries have to be transferred to GL at least once a month for reporting purposes

3. Oracle Projects balances have to be updated once every month 

4. Payment batches need to be processed daily

Based on the above what would be the minimum recommended frequency of running the Transfer to GL program?

A. Daily

B. Weekly

C. Monthly

D. Once very two weeks

Answer: B


Q208. To transmit an electronic payment instruction manually, perform these four steps.

1. In the Payments Manager, select the Payment Instruction tab.

2. In the Status field of the Search region, select Formatted - Ready for Transmission and click the Go button.

3. For the applicable payment instruction, click the Take Action icon. The Transmit Payment Instruction: <number> page is displayed.

4. From the Actions drop-down list, select Transmit and click the Go button. Arrange the steps in the proper sequence they would be performed.

A. 1, 3, 2, 4

B. 1, 2, 3, 4

C. 1, 3, 4, 2

D. 2, 3, 4, 1

Answer: B


Q209. To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must complete seven fields. Name three. (Choose three.)

A. industry

B. tax amount

C. tax regime

D. commodity

E. supplier site

Answer: BCE


Q210. Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error. (Choose two.)

A. Review the workflow process.

B. Evaluate the mapping settings.

C. Review the GL_Interface tables.

D. Confirm the account hierarchy setups.

E. Run the period close by using a different amount type.

Answer: BC