[Free] 2018(Jan) EnsurePass Dumpsleader Oracle 1z0-516 Dumps with VCE and PDF 241-250

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Oracle EBS R12.1 General Ledger Essentials

Question No: 241 – (Topic 3)

Choose the maximum number of secondary ledgers that can be assigned to a primary ledger.

  1. unlimited

  2. two per primary ledger

  3. one per primary ledger

  4. one per primary ledger with a reporting currency

Answer: A

Question No: 242 – (Topic 3)

ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart of accounts, accounting calendar, accounting method, and ledger-processing options. UK management requires reporting on receivables from its US operations in GBP each month. Identify the best option for the US operations to report to their parent.

  1. Create an account-level reporting currency.

  2. Create a subledger-level reporting currency.

  3. Create a journal-level reporting currency for every transaction.

  4. Create a balance-level reporting currency and run general ledger translation.

    Answer: B

    Question No: 243 – (Topic 3)

    There are five major business functions that occur sequentially during the natural flow of the Payables processes. Consider this list of five steps:

    1. Invoice Payment

    2. Invoice Validation

    3. Invoice and Payment Accounting

    4. Supplier Entry

    5. Invoice Import/Entry

      What is the order in which these steps must be performed?

      A. 1, 2, 3, 4, 5

      B. 4, 5, 2, 1, 3

      C. 5, 3, 1, 2, 4

      D. 3, 1, 4, 2, 5

      E. 4, 2, 5, 1, 3

      Answer: B

      Question No: 244 – (Topic 3)

      Identify four functions of the Invoice Validation process. (Choose four.)

      1. applying any required holds

      2. releasing any qualifying holds

      3. applying all prepayments and discounts

      4. validating the General Ledger accounting information

      5. validating and creating accounting entries for the invoice

      6. ensuring that the total amount of all distributions equals the invoice total

      7. creating an additional distribution for any difference between the total amount of all distributions and the invoice total

Answer: A,B,D,F

Question No: 245 – (Topic 3)

Identify three types of entities that can be defined and related to one another in Oracle Applications. (Choose three.)

  1. ledger

  2. paygroups

  3. legal entities

  4. responsibilities

  5. business groups

Answer: A,C,E

Question No: 246 – (Topic 3)

Before you can pay or create accounting entries for an invoice, the Invoice Validation process must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.)

  1. invoice date

  2. supplier site

  3. trading partner

  4. supplier number

  5. invoice description

Answer: A,C,D

Question No: 247 – (Topic 3)

The rate variance Gain/Loss accounts specified in the Financial Options – Accounting region are used to account for .

  1. exchange rate variance in invoices and payments

  2. invoice price variance in purchase orders and invoices

  3. exchange rate variance for expense items in purchase orders and invoices

  4. exchange rate variance for inventory items in purchase orders and invoices

Answer: D

Question No: 248 – (Topic 3)

The client#39;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?

  1. The profile option GL: Allow Preparer Approval must be reset.

  2. One of the GL account code combinations in the journal is invalid.

  3. Authorization limits have not been defined properly and the GL period is closed.

  4. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.

Answer: D

Question No: 249 – (Topic 3)

Identify two true statements about using column sets in an FSG report. (Choose two.)

  1. Formats can be set for each column.

  2. Accounts cannot be assigned to a column set.

  3. Calculations can be performed by using columns.

  4. The seeded column sets provided must be used.

Answer: A,C

Question No: 250 – (Topic 3)

Sam, the CFO of XYZ Company, finds that in the expenditure budget of the current year, there are many funds available in the stationery account, whereas there is not much amount left for employee travel expenses. Sam instructs the budget analyst John to transfer 80% of the stationery account to the travel expenses account. While transferring the amount, John encountered errors and approached Sam for a resolution. Sam reviews the situation and clarifies it to John. Choose what Sam would have explained to John.

  1. There must be some budgetary control enabled on the travel expenses, and a transfer can be made only after a funds check.

  2. There must be some budgetary control enabled on the stationery account, and a transfer can be made only after a funds check.

  3. There must be some budgetary control enabled on the stationery and travel expenses accounts, and a transfer can be made only after a funds check.

  4. It is not possible to transfer amount from one account to another unless the absolute amount is known. So John should have calculated 80% of the stationery account and then tried to make the transfer.

Answer: B

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