nerdexam
Oracle

1Z0-516 · Question #348

Tax on Receivables invoices are posted to different General Ledger (GL) accounts by taxing authorities in your primary ledger. For example, one GL account (2501) for California tax and one (2502)…

The correct answer is E. Oracle Subledger Accounting. See the full explanation below for the reasoning.

Question

Tax on Receivables invoices are posted to different General Ledger (GL) accounts by taxing authorities in your primary ledger. For example, one GL account (2501) for California tax and one (2502) for VirginiA. There is a regulatory requirement for tax on Receivables invoices to be posted to one account (2550) in your secondary ledger. Where would you set up the accounting rules for this requirement?

Options

  • AOracle Payables
  • BOracle Receivables
  • COracle General Ledger
  • DOracle E-Business Tax
  • EOracle Subledger Accounting

How the community answered

(35 responses)
  • A
    6% (2)
  • B
    9% (3)
  • C
    3% (1)
  • E
    83% (29)

Community Discussion

No community discussion yet for this question.

Full 1Z0-516 Practice