Exam Code: 1Z0-517 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 Payables Essentials
Certification Provider: Oracle
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2017 Jan 1Z0-517 exam answers
Q41. You have a new employee in the buying department. She set up a number of item numbers and chose not to flag them for invoicing. Several transactions have been completed in Order Management by using these new item numbers. What effect would this event have on the Receivables closing process?
A. The transactions would be flagged as exceptions.
B. The transactions would be deleted from the system.
C. The transactions would prevent Receivables from being closed.
D. The transactions would prevent Order Management from being closed.
Q42. Identify three features of Payment Manager. (Choose three.)
A. updates a supplier's bank details
B. provides calculation of the interest amount
C. uses templates to select invoices to pay that meet the payment criteria
D. creates payment process request templates by specifying invoice selection criteria
E. automatically submits invoices via payment process requests to Oracle Payments for processing and payment
Q43. Peter, the GL accountant, tells you that he has defined the budget and that the budget amounts have been entered and approved by management. After approval, he wants his assistant accountants to NOT be able to update this budget. What would be your response?
A. The budget status must be current.
B. Set the budget status to frozen to meet this need.
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.
Q44. You have received an invoice that requires an immediate payment. The next scheduled check run is not until the end of the week. Which two methods may you use to create the payment? (Choose two.)
A. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a quick payment.
B. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a manual payment.
C. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and create a quick payment.
D. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and creates a manual payment.
Q45. Identify three statements that are true about bank account information. (Choose three.)
A. Bank accounts are used to calculate the supplier's discount.
B. Disbursement bank accounts cannot be used for payment.
C. Payables, Receivables, and/or Treasury uses bank accounts.
D. Payables uses an internal bank account to disburse funds to suppliers.
E. Receivables uses a bank account to receive payments from customers.
Renovate 1Z0-517 free practice test:
Q46. One of your clients makes this statement during an AP meeting: Prepayments can be applied to Expense Report. What is your response?
A. Yes, if you make a schedule prepayment
B. Yes, but only if you set the correct profile option to do so
C. No, because prepayments can only be applied against invoices
D. Yes, you can prepay both invoices and expense reports
E. No, because prepayments can only be applied against invoices that ser set up to handle prepayments
Q47. Identify three functions that the Create Accounting program provides. (Choose three.)
A. validates and creates subledger journal entries
B. generates the Posted Journal Report for subledger journal entries
C. transfers final journal entries in the current batch run to General Ledger
D. applies the application accounting definitions that are created in Accounting Builder (ABM)
E. allows you to update final journal entries before the Transfer to General Ledger process is run
F. generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program
Q48. You have the following information:
The Accounting flexfield structure is "company, department, product, account." Product has two rollup groups: domestic and international. Department has one rollup group: manufacturing. All accounting flexfield segment values can use alphanumeric characters.
Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total)
Q49. Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process?
A. Invoice Register
B. Create Accounting
C. Invoice Audit Listing
D. Payables Posted Payment Register
Q50. Which two statements correctly describe the translation process? (Choose two.)
A. You can rerun the translation process more than once per period.
B. With the translation process, you can translate only year-to-date amounts.
C. If you rerun the translation process, it adds more data to the previous translated amounts.
D. Translation for a subsidiary can be initiated from the parent by clicking the state controller translate button.