1Z0-516 Exam Questions

To set up Offset Tax under the Tax Configuration tab, which Tax Configuration tab must you select to locate and enable "Set as Offset Tax"?

E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choos...

Self-assessed tax amounts are taxes that you are liable for, but do not appear on the invoice, such as use tax. To use self -assessed taxes, enable the Set for Self Assessment/Reve...

Identify three statements that are true about the withholding tax process. (Choose three.)

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

Assume that the withholding tax is calculated at the invoice payment time and the withholding tax rate is 20%. Identify three statements with the correct withholding tax calculatio...

Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.)

Identify three statements that are true for the automatic withholding tax process. (Choose three.)

Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)

Identify three purposes for which transaction types can be used. (Choose three.)

John is reviewing the clients draft training documents about the Order to Cash life cycle business processes. Identify four steps that are included in the Order-to-Cash life cycle....

A clerk from ABC Inc., receives a customer receipt that does not have sufficient information to identify the customer or invoice. Which is the correct method of entering the receip...

Identify two statements that apply to Oracle Collections. (Choose two.)

The end users at Lucy Ltd. noticed several AutoInvoice exceptions and requested your help in correcting them. Which window allows you to edit data?

The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the miscellaneous receipt needs to be reversed. Which method would you advise the client...

The head office of ABCCorporation is at New York, and it has a branch in Tokyo. Their ledgers have the same chart of accounts and calendar. The New York ledger uses USD, whereas th...

The following template has been created: D_Region_Asset Here, D represents the company segment; the value set is called company. Region represents the division segment; the value s...

Which statement best describes stages in the credit review process?

Identify the Receivables activity type where you are unable to select the tax rate code source option of invoice.

ABC Company's requirement is that all mass allocation journals must be approved by using the journal approval process. When the company accountant enters his or her mass allocation...

The tables for the Customer Master are owned by _____.

AutoCash rules apply to _____ receipts.

Identify two correct statements regarding a primary ledger. (Choose two.)

How do you identify errors in the accounting calendar?

Your customer is having issues transferring intercompany transactions to General Ledger.. Identify three reasons for this.

When working with Essbase, versions of the tree hierarchy as defined in the Fusion not available in the Essbase balances cube. What should you do to correct this situation?

AutoLockbox execution employs a multistep process. These steps can be submitted individually or at the same time from the Submit Lockbox Processing window. Identify the correct seq...

Identify a correct statement about profile classes.

The Receipt Inherit Invoice Number option affects only receipts created by _____.

Select the setup task that you are required to perform in Receivables to manage tax calculations on invoices.

ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of pri...

A receipt of $2,000 is received for an invoice that has $1,500 as the amount due. The remittance advice does not state a reason for the overpayment. Identify the receipt state that...

Customer reason codes can be used to assist in automatic claim creation in Receivables. Customer reason code mappings are assigned in _____.

When summary account templates are associated with the check-level advisory of budgetary control funds, which are the two items that must be associated with the template? (Choose t...

You are using the Event Based Revenue Management business rule for revenue recognition. Your company is on the calendar month for financial reporting. On April 12th of the current...

Newco Inc. has decided on a chart of accounts structure that consists of four segments: company, cost center, account, and subaccount. It has only one company value and wants to re...

ABC Corp. is implementing General Ledger, Payables, Receivables, and Cash Management. Identify two points of integration between General Ledger, Payables, Receivables, and Cash Man...

Before you can create customer invoices, you have to define customers and your remit-to address. Identify five additional setups that are required before you can create invoices in...

Identify two correct statements about the transaction flexfields for the Receivables AutoInvoice interface tables. (Choose two.)

ABC Company in India exports raw materials to XYZ Company in the USA. There is an outstanding invoice of INR 90,000,000 to be paid in two months. The USD-to-INR rate when the trans...

Select four values that default from profile classes in Oracle Accounts Receivable. (Choose four.)

Your receivables clerk is confused about entering duplicate receipt numbers in Oracle Receivables. According to the organization's policy, the customers check number is entered as...

Select four processes that are facilitated by the credit management workflow. (Choose four.)

Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the parent segment values while defining the MassAllocation formulA. What would be your resp...

The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a c...

Identify two mandatory attributes for grouping rules. (Choose two.)

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...

ABC Corp. has a requirement that all budget entries are made through journals. Identify one choice where this can be accomplished.

You have just opened the Transactions form. Which field would you see on this form?

Identify four required Oracle Credit Management system options. (Choose four.)