1Z0-517 | A Review Of Free 1Z0-517 exam
Q21. Identify the statement that reflects the functionality of the Create Accounting Process.
A. The Create Accounting Process creates subledger accounting entries.
B. You can use the Create Accounting Process to create subledger accounting entries and validate the invoices.
C. The Create Accounting Process is used to create subledger accounting entries and transfer the transactions to General Ledger.
D. The Create Accounting Process is used to create subledger accounting entries, and transfer and post the transactions to General Ledger.
Answer: A
Q22. You need to verify that your system has enough resources to handle the volume of accounts that would be generated by the summary account template. The template has been designed as follows:
D-Region-D
The first segment is company, which has ten values.
The second segment is division, which is represented by the rollup group region. It has six parent values. The last segment is account, which has 500 values.
How many summary accounts would be generated by the template?
A. 60
B. 500
C. 3,000
D. 5,000
E. 30,000
Answer: E
Q23. 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
Q24. Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process?
A. opening the next period
B. closing the current period
C. revaluing foreign currency balances
D. translating to the functional currency
E. consolidating to the parent set of books
Answer: C
Q25. Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)
A. Create aliases.
B. Define a value set.
C. Define security rules.
D. Define an account structure.
E. Define valid segment values.
F. Create account combinations.
Answer: BDE
Q26. Identify the conditions that must exist before you can apply an advance against an expense report.
A. The prepayment type is temporary and has been fully applied.
B. The prepayment type is temporary and has not been fully applied.
C. The prepayment type is permanent, has been validated, and not canceled.
D. The prepayment type is permanent and no active holds exist for the prepayment.
Answer: B
Q27. The client's GL accountant comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem?
A. The profile option GL: Allow Preparer Approval must be reset.
B. One of the GL account code combinations in the journal is invalid.
C. Authorization limits have not been defined properly and the GL period is closed.
D. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.
Answer: D
Q28. Which two methods would you recommend for preventing the creation of duplicate suppliers? (Choose two.)
A. Run the Vendor Audit Report
B. Recommend standard naming conventions for suppliers
C. Run the supplier listing by supplier name report to check the duplicates
D. Query the supplier in the supplier form before creating a new supplier
Answer: BD
Q29. Which two are true about elimination? (Choose two.)
A. You can define balancing options for eliminating entries.
B. You can define an elimination set to contain one elimination entry.
C. Currency is an optional component when defining an elimination set.
D. You must specify an elimination company in the Elimination Sets window.
Answer: AB
Q30. Identify three Oracle E-Business Suite Release 12 applications that both integrate with Payables and provide Payables-related accounting information to Oracle Subledger Accounting. (Choose three.)
A. Oracle Assets
B. Oracle Leasing
C. Oracle Inventory
D. Oracle Receivables
E. Oracle Procurement
Answer: ACE