[Free] 2018(Jan) EnsurePass Dumpsleader Oracle 1z0-516 Dumps with VCE and PDF 311-320

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Oracle EBS R12.1 General Ledger Essentials

Question No: 311 – (Topic 4)

Tax Content Services store and maintain the master and reference data that are needed to support the other components in E-Business Tax. You use the E-Business Tax application to model details about the tax setup for all your company tax requirements. Identify the two that are NOT a subcomponent of Tax Content Services. (Choose two.)

  1. tax jurisdictions

  2. tax condition sets

  3. basic tax configuration

  4. determining factor sets

  5. country default controls

  6. exemptions and exceptions

Answer: B,D

Question No: 312 – (Topic 4)

As part of its closing process, XYZ Corporation reviews receipt accruals. Occasionally, Payables matches incorrectly, and therefore they find that some perpetual accruals never clear, leaving reconciliation items on their accrual reports. Which two actions can they perform to solve the problem? (Choose two.)

  1. Reverse the invoice distributions and rematch if possible.

  2. Run the Uninvoiced Receipts Report to identify the receipt accrual that has not cleared and create a manual journal entry in General Ledger to clear the receipt from the report.

  3. Run the Matching Hold Detail Report to identify the receipt that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.

  4. Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.

Answer: A,D

Question No: 313 – (Topic 4)

Select the Apply Withholding Tax Payables option that must be set to submit the Withholding Tax by Invoice Report.

  1. At Payment Time

  2. Allow Force Approval

  3. Allow Online Validation

  4. At Invoice Validation Time

Answer: D

Question No: 314 – (Topic 4)

During the entry or update of expense reports in the Payables Expense Report window, holds can be applied on an expense report. These holds are carried forward to the invoice created from the expense report in Payables. Which statement is true?

  1. Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window.

  2. Any number of user-defined holds and only one system hold can be applied on one expense report in the Payables Expense Report window.

  3. Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window.

  4. Any number of user-defined holds and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Answer: A

Question No: 315 – (Topic 4)

Which statement is FALSE about the Stop Payments Report?

  1. Use this report to review all current stop payments.

  2. Payables lists stop payments that were voided at a later time.

  3. Payables does not list stop payments that were voided at a later time.

  4. Payables does not list stop payments that were initiated, but then released at a later time.

Answer: B

Question No: 316 – (Topic 4)

You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside the system, but your client does not want to manually record them because that would be time consuming. Choose the best solution.

  1. Create electronic payment batches by using a check payment method for those multiple suppliers, and destroy those checks.

  2. Create electronic payment batches by using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.

  3. Create electronic payment batches by using a clearing payment method for those multiple suppliers because this payment method does not generate a file.

  4. Create electronic payment batches by using an electronic payment method such as EFT for those multiple suppliers, and then do not send the resulting electronic file to the bank.

Answer: B

Question No: 317 – (Topic 4)

Identify three statements that are true for setting up withholding tax for a supplier and supplier site. (Choose three.)

  1. Withholding tax is an account distribution process.

  2. The withholding tax option can be overwritten at the invoice level.

  3. If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the supplier#39;s sites.

  4. Payables defaults the withholding tax group from the supplier site to the invoice and

    then to invoice distribution.

  5. The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject to withholding tax.

Answer: C,D,E

Question No: 318 – (Topic 4)

Which two statements are true about defining payment documents? (Choose two.)

  1. Checks and electronic payments are examples of payment documents.

  2. Credit and debit memos and checks are examples of payment documents.

  3. You can create only one payment document for each internal bank account.

  4. You must create at least one payment document before you can use a bank account to create invoice payments.

  5. Use the Payment Documents window to define payment documents for internal, customer, and supplier bank accounts.

Answer: A,D

Question No: 319 – (Topic 4)

Identify three processes that you must run before closing your Payables period. (Choose three.)

  1. Expense Report Export

  2. The Create Accounting program

  3. Payables Open Interface Import

  4. Period Close Exceptions Report

  5. The Transfer Journal Entries to GL program

Answer: B,D,E

Question No: 320 – (Topic 4)

Identify three prerequisites for the Payables period-close process. (Choose three.)

  1. resolving holds

  2. reconciling bank statements

  3. updating matured bills payable

  4. completing all receipt processing

  5. confirming or canceling all pay runs

  6. making adjustments to supplier invoices interfaced to Projects

Answer: A,C,D

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