1Z0-516 Exam Questions

The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.)

Select two statements that are true about ledgers in Oracle General Ledger. (Choose two.)

You are implementing Oracle General Ledger at ABC Enterprises. ABC Enterprises is a legal entity and must perform corporate and statutory reporting. It operates in a country that r...

Select two valid statements that apply to chart of accounts structures for a global company. (Choose two.)

You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger that reflects XYZ Company's business. Select four data elements that you would nee...

Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of the cost center segment. A business unit i...

XYZ Company is implementing Oracle General Ledger. They want to record and report on expenses by cost center. Identify three segments that must be defined for XYZ Company's account...

Identify three ways in which subledgers transfer information to General Ledger. (Choose three.)

ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution report is automatically created. Identify three components on which the Create Journal...

For each subledger, there must be one _____.

A reversing journal entry can be posted into _____.

The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a...

Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)

Choose three required steps while performing the accounting setup in the Accounting Setup Manager. (Choose three.)

Identify two places where you can define a legal entity. (Choose two.)

The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger. Th...

XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant. Select three steps that are required for creating a new accounting structure. (Choose three.)

Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Cho...

You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations...

ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals...

ABC Corporation is headquartered in New Delhi with an office in Mumbai. They share the same chart of accounts, calendar, and currency. The Mumbai ledger contains manual adjustments...

In the context of adding, deleting, and disabling secondary ledgers, select two valid statements. (Choose two.)

Michael is responsible for the accounting setup. Here is the list of accounts for the accounting setup structure mapped to their requirement. 1. suspense account - suspense posting...

To achieve the maximum summary account functionality for total (T), how must the value sets for each segment of the accounting key flexfield be set?

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...

You have the following information: The Accounting flexfield structure is "company, department, product, account." Product has two rollup groups: domestic and international. Depart...

A manager wants to review the cash balance by company. He has asked you to create the summary account template. The company's accounting flexfield has four segments: company (5 val...

When summary account templates are associated with the check-level advisory of budgetary control funds, what two actions must you perform? (Choose two.)

How do you know funds are available in the budgetary control summary account template?

When structuring the summary accounts hierarchy, what fact must you take into consideration?

What are the five steps for creating MassAllocation journal entries? (Choose five.)

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...

You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation. Identify two setups required for journal approval. (Choose two.)

Jack is hired as an Oracle General Ledger implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.)

Which two are the mandatory flexfield qualifiers in Oracle General Ledger? (Choose two.)

Scott, a consultant with a leading consulting firm, is implementing Oracle General Ledger at a client site and is setting up FSG reports to be used by different users. One of the c...

The management segment qualifier must be attached to which key flexfield segment?

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 le...

The GL accountant has defined the budget and wants the assistant accountants to enter and update the budget. The GL accountant wants this budget to be the default. What would be yo...

Peter, the GL accountant, tells you that he has defined the budget and that the budget amounts have been entered and approved by management. After approval, he wants his assistant...

Jane, the GL accountant, asks you whether she could delete the budget after it has been defined. She also wants to know whether she could delete the budget organization after it ha...

Jack, the CFO of ABC Company, wants to prepare the annual capital expenditure budget for the current year where the company plans to grow in the last quarter of the year. The capit...

Sam, the CFO of XYZ Company, wants to prepare the annual capital expenditure budget for the current year with reference to the capital expenditure budget of the previous year. The...

Suppliers play an important part in the Procure-to-Pay process. Select three activities that you must perform using a supplier. (Choose three.)

You are at a client site that has thousands of suppliers in their current legacy system that will end up in the Oracle Production system. Before conversion, you must perform a supp...

You are on a phased-approach implementation. Payables and Purchasing are being implemented in Phase One, and Assets in Phase Two. Identify three choices in the process for the best...

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

Client A has three legacy systems that contain this financial information: purchase orders, suppliers, receipts, invoices, accruals, and expense reports. The client must have much...

Company K has identified these business requirements for their Payables operations: 1. All invoices must be part of a batch. 2. Discounts must be taken in all situations. 3. Invoic...

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 m...