1Z0-516 Exam Questions

You are implementing Oracle General Ledger at a client site. The client is based in the US but has a presence in many countries worldwide, and has transactions in multiple currenci...

ABC.com has a calendar with 12 monthly periods. Their fiscal year is the calendar year. ABC.com uses Average Balance Processing. ABC.com's Accrual category is defined with Autoreve...

You are about to set up an accounting calendar for a new set of books at ABC.com. ABC.com's fiscal year end is March 31. The company is not sure if it wants to convert one year or...

ABC.com runs the Program-Create Journals, after which the Create Journal Entries Execution Report is automatically created. Identify three components that the report Create Journal...

ABC.com has decided on a chart of accounts structure that consists of four segments: Company - Cost Center - Account - Sub Account. It has one company value only, and wants to have...

For each subledger there should be one _____.

ABC.com has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart...

The ABC.com Corporation has five segments in its accounting flexfield. For a special Profit and Loss report, they want to sort by the fourth segment, which is product. In which def...

ABC.com, the GL accountant comes to you and says that to minimize maintenance efforts, disabled account code combinations should be automatically deleted from budget organization p...

What is a benefit of the secondary tracking segment?

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 pos...

You are implementing Oracle General Ledger at a client site. The client is based in the US, but they have a global presence in many countries and transactions in multiple currencie...

Identify three statements that are correct for the multi-currency functionality of Oracle General Ledger. (Choose three.)

Which three are the benefits of the Currency Rates Manager in Oracle General Ledger? (Choose three.)

John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Ru...

Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import acti...

ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the tran...

Select two statements that are correct for the secondary tracking segment. (Choose two.)

Identify four consolidation tools. (Choose four.)

Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)

ABC Company in the United Kingdom has three subsidiaries in three different countries. It consolidates the accounts of all subsidiaries and the headquarters by using the average ba...

Select two restrictions that apply to consolidating budget balances. (Choose two.)

Select three statuses of the consolidation workbench. (Choose three.)

Select three statements that apply to Interface Data Transformer (IDT). (Choose three.)

Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of...

Which two are true about elimination? (Choose two.)

All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?

Select the correct sequence of tasks required for period closing in Oracle General Ledger. 1. Verify that all journals are posted. 2. Close the period of each subledger. 3. Run the...

Which four attributes are validated during the Journal Import process? (Choose four.)

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 Ma...

Identify two types of inquiries that are possible on ledger sets. (Choose two.)

Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. Wh...

Identify the three reports that can be processed using the State Controller window. (Choose three.)

Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because th...

ABC Company wants to compare consolidated actuals against consolidated budgeted amounts. Identify the two steps that must be performed to provide ABC Company with this information....

Identify what three considerations must be executed before creating a report by using the financial statement generator. (Choose three.)

Which two actions would you perform by using the column set builder function? (Choose two.)

Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)

In the course of implementing Oracle General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. These reports have...

XYZ Corporation has five segments in its accounting flexfield. For a special profit-and-loss report, they want to sort by the fourth segment, which is "product." Select the element...

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

During a pilot run of Financial Statement Generator reports, the report output displayed credit amounts as negative numbers. The customer requires the credit amounts on the reports...

You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four legal entities to support operations in the US (East), the US (West), the UK, and Fran...

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

John has created two ledgers: one primary and one secondary. The primary ledger stores transactional data and the secondary ledger stores only adjustments. The secondary ledger sha...

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...

ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations have separate legal and statutory requirements. The tax requirements also differ fo...

XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart o...

ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US (West) has budgetary control enabled and the US (East) requires approvals for journals. A...

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)