Exam Code: 1Z0-517 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 Payables Essentials
Certification Provider: Oracle
Free Today! Guaranteed Training- Pass 1Z0-517 Exam.

2016 Sep 1Z0-517 exam answers

Q101. ABC Corp. wants to allocate the gross amount of XYZ Co. invoices to fifty cost centers each time an invoice is received from them. The cost centers that are to be charged require minimal updating. Select the option you would recommend that requires minimal ongoing maintenance.

A. Import predefined invoices from an Excel spreadsheet.

B. A customization may be created to allocate the charges at the end of the month.

C. Create an invoice and use the prorate functionality to allocate the cost across accounts.

D. Make it an operational policy that all invoices of this type are created listing all the desired accounts.

E. Create a distribution set for all the desired accounts and associate it to all new invoices for this supplier.

Answer: E


Q102. Company A wants to use Oracle Internet Expenses with expense report templates.

Identify three true statements for the setup of expense report templates. (Choose three.)

A. The tax code assigned to an expense item must be Web enabled.

B. Each expense item must have an expense category assigned to it.

C. The expense report template must be enabled for Internet Expenses.

D. The GL account assigned to an expense item must have all accounting flexfield segment values entered.

Answer: ABC


Q103. Which three statements are true regarding voucher numbers and document sequences? (Choose three.)

A. After you create and save a sequence, you can change it

B. Assigning unique voucher numbers to documents is called document sequencing

C. You can select a sequence of numbers that you would assign to a document category

D. Document sequencing for all the documents you use in all your Oracle applications comes automatically set up with your installation

Answer: BCD


Q104. Identify three statements that are true about the withholding tax process. (Choose three.)

A. Tax is automatically calculated at any calculation level.

B. The withholding tax process is a part of Cash Management.

C. Payables automatically generates withholding tax invoices to pay tax authorities.

D. Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation.

E. If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.

Answer: CDE


Q105. With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.

A. issued

B. updated

C. negotiable

D. reconciled

Answer: D


certifyforall.com

Up to date 1Z0-517 exam question:

Q106. Which three are true regarding purchase order-matched invoices? (Choose three.)

A. You can set up controls in your system to require you to purchase order-match each invoice.

B. You can set up controls in your system to require you to invoice-match credit /debit memos that have been matched to a purchase order.

C. You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.

D. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt.

E. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.

Answer: ACE


Q107. Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)

A. Both budget and actual balances can be consolidated.

B. Consolidation is possible only when the subsidiaries use multiple Oracle application instances.

C. You can consolidate balances only when there are separate ledgers for different companies.

D. You can maintain multiple companies with similar or different accounting structures and consolidate their results for meaningful financial reporting.

Answer: AD


Q108. ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the quarter's final calendar month.Select the remaining setup for the calendar to meet the requirement.

A. defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month; defining an adjusting period on the last day of each quarter

B. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining four adjusting periods for March 31 of the fiscal year

C. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month; defining an adjusting period on the last Friday of each quarter

D. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter

Answer: D


Q109. Identify three true statements about the invoice approval workflow. (Choose three.)

A. If an approver rejects the invoice, the Workflow program ends.

B. If an approver does not respond within the time you specify, Workflow routes the invoice back to the originator.

C. If an approver does not respond within the time you specify, then Workflow requests approval from that person's manager.

D. If an approver approves the invoice, the invoice goes to the next person in the approver list until all required people approve the invoice.

E. If the invoice amount is changed after the invoice is already submitted to the approval process or after the process is complete, the system does not automatically resubmit the invoice for approval.

Answer: ACD


Q110. What are the three options available for the parameter ‘Transfer to GL interface’ when running the request ‘Payables Transfer to General Ledger’ ? (Choose three.)

A. In Detail

B. Summarize by Invoice Date

C. Summarize by Payment Date

D. Summarize by Accounting Date

E. Summarize by Accounting Period

Answer: ADE