1Z0-517 | Rebirth Oracle 1Z0-517 exam
Q1. ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)
A. XYZ Company is not impacted at all by this rate change.
B. XYZ Company has a positive impact by this rate change.
C. ABC Company is not impacted at all by this rate change.
D. ABC Company has a positive impact by this rate change.
Answer: AD
Q2. Identify the default value for the term date that would extend the time to pay an invoice, if the payment term is net 30 days.
A. invoice date
B. system date
C. invoice entered date
D. goods received date
E. invoice received date
Answer: B
Q3. The Quick Payment method is best described as the method of _____.
A. creating a payment without an invoice
B. manually writing a check outside of Payables
C. recording a payment made outside of Payables
D. creating and printing a computer-generated payment to pay a supplier for one or more invoices
Answer: D
Q4. Identify four options for Quick Payments. (Choose four.)
A. Create a check, save it, and print it later.
B. Select an invoice that has not been validated.
C. Select an invoice that has one or more holds.
D. Create a quick payment, and select an invoice regardless of the due date.
E. Create a quick payment, and select an invoice regardless of the payments terms.
F. Create and print a computer-generated payment to pay a supplier for one or more invoices.
Answer: ADEF
Q5. The GL user entered a taxable journal and posted it. Later, the user realized that the tax code entered was wrong. What must the user do?
A. Delete the journal and reenter it.
B. Reverse and reenter the journal.
C. Unpost the journal and reenter it.
D. Modify the tax code at the line level.
E. Enter another journal with the difference in the tax amount.
Answer: B
Q6. Select four tips that can be used to speed up data entry. (Choose four)
A. Use quick invoices.
B. Use distribution sets.
C. Use recurring invoices.
D. Use keyboard shortcuts.
E. Use only invoices without holds.
Answer: ABCD
Q7. Choose the maximum number of secondary ledgers that can be assigned to a primary ledger.
A. unlimited
B. two per primary ledger
C. one per primary ledger
D. one per primary ledger with a reporting currency
Answer: A
Q8. Identify the three reports that can be processed using the State Controller window. (Choose three.)
A. Consolidation Audit
B. Consolidations Journal
C. Consolidation Financial
D. Consolidation Exceptions
E. Consolidation Balance Inquiry
Answer: ABD
Q9. 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
Q10. Which three statements are true about the revaluation process? (Choose three.)
A. You must post the revaluation journal entries.
B. The revaluation process must be executed after the translation process has completed.
C. This process revalues the foreign currency portion of the account balances by using the revaluation rate defined in the period rates table.
D. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.
Answer: ACD