1Z0-517 | Down to date 1Z0-517 Exam Study Guides With New Update Exam Questions
Q151. The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a closed status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.
What must the user do?
A. Open Dec-04; enter and post the journal; close the period.
B. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods.
C. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.
D. The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in Mar-05.
Answer: C
Q152. When setting up financials and Payables options, which two options can only be defined if you have Multi-Org enabled? (Choose two.)
A. Accounting
B. Tax Options
C. Invoice Controls
D. Payment Options
Answer: AB
Q153. Select the three windows where a user can manually release an invoice hold or payment hold. (Choose three.)
A. Holds
B. Actions
C. Invoice Lines
D. All Distributions
E. Scheduled Payments
Answer: ABE
Q154. 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
Q155. If you use the Expense Report Export program, it converts expense reports created in these applications into Payables invoices. Identify the two applications. (Choose two.)
A. Oracle Aria
B. Oracle Travel
C. Oracle Projects
D. Oracle Payables
E. Oracle General Ledger
F. Oracle Internet Expenses
Answer: DF
Q156. You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger that reflects XYZ Company's business. Select four data elements that you would need to obtain from XYZ Company to create a ledger for your demo. (Choose four.)
A. the suspense account
B. the intercompany account
C. the retained earnings account
D. the number of accounting periods
E. the base (functional) currency of the company
F. the accounting calendar with periods and the fiscal year-end
G. the company organization structure for the chart of accounts
Answer: CEFG
Q157. 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.
Answer: A
Q158. Identify the three actions that you can perform using the consolidation workbench. (Choose three.)
A. Access the state controller.
B. Change the chart of accounts.
C. Create consolidations sets, which launch multiple consolidations in a single step.
D. Create multi-level hierarchies, which you can view using the graphical consolidation hierarchy viewer.
Answer: ACD
Q159. Select two reasons to use reporting hierarchies instead of summary accounts. (Choose two.)
A. Use summarized data in journal formulas.
B. Summary relationships are not permanent.
C. Inquiry of summary amounts is done online.
D. The primary use for summarization is only for reports.
E. You can easily reorganize summary views in the future.of the posting process.
Answer: DE
Q160. Identify the two invoice types processed by the Payables Open Interface process. (Choose two.)
A. standard
B. prepayment
C. debit memos
D. credit memos
Answer: AD