20% Free Passleader 1Z0-517 Certification Dumps With One Year Free Update

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Vendor: Oracle
Exam Code: 1Z0-517
Exam Name: Oracle EBS R12.1 Payables Essentials

QUESTION 1
What is a benefit of the secondary tracking segment?

A.    Additional security ensures that correct accounts are selected while entering transactions.
B.    The Management segment is enabled automatically when the secondary segment is defined.
C.    More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts.
D.    None of the above.

Answer: C

QUESTION 2
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 posted for their European subsidiary. What is the next logical step in the period-close process?

A.    opening the next period
B.    closing the current period
C.    revaluing foreign currency balances
D.    translating to the functional currency
E.    consolidating to the parent set of books

Answer: C

QUESTION 3
Select two actions that ledger sets permit. (Choose two.)

A.    performing variance inquiries
B.    being used for mass budgets
C.    sending budget balance inquiries
D.    viewing account balances for multiple ledgers in one view
E.    grouping multiple ledgers that share the same chart of accounts and calendar

Answer: DE

QUESTION 4
Select three activities that must be performed to complete the setup of the key accounting flexfielD. (Choose three.)

A.    Create aliases.
B.    Define a value set.
C.    Define security rules.
D.    Define an account structure.
E.    Define valid segment values.
F.    Create account combinations.

Answer: BDE

QUESTION 5
Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.)

A.    It is an integrated extension of a ledger.
B.    It replaces multiple reporting currencies.
C.    Reporting currencies are the same as secondary ledgers.
D.    Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options.

Answer: AB

QUESTION 6
Which three activities would use summary accounts? (Choose three.)

A.    creating a monthly recurring standard journal entry to amortize goodwill
B.    allocating the total monthly costs of the Information Services department to other departments
C.    estimating a sales commission accrual based on the total of all product sales for each division
D.    formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries

Answer: BCD

QUESTION 7
The company’s two senior executives have different budget figures. They want Peter, the GL accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them. What would be your response?

A.    It is not possible to have more than one current budget.
B.    Whether you can have multiple current budgets depends on the budget organization.
C.    The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
D.    The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
E.    The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.

Answer: A


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QUESTION 8
Identify the four setup options that control supplier defaults. (Choose four.)

A.    financial options
B.    payables options
C.    receiving options
D.    purchasing options
E.    Payables system setup
F.    Trading Community Architecture (TCA)

Answer: ABDE

QUESTION 9
Identify three ways that an invoice can be submitted for validation. (Choose three.)

A.    online by clicking the Validate button in the Invoice Batches window
B.    online by clicking the Validate and Account button in the Invoice Batches window
C.    in batch by submitting the Payables Invoice Validation program from the Invoice Workbench
D.    in batch by submitting the Payables Invoice Validation program from the Submit Request window
E.    online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window

Answer: ADE

QUESTION 10
You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements:
1. They want to be able to pay only certain types of suppliers by batch.
2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention.
3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued.
To meet the above requirements, you perform these steps: a) Set up suppliers with pay groups for each type, and use them when running the payment batch. b) Set up the payment batch with Maximum Outlay equal to $100,000 USD. c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD. Which requirements have you met?

A.    2 and 3
B.    1, 2 and 3
C.    1 and 2
D.    1 and 3

Answer: D

QUESTION 11
Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.

A.    a paper check to print and send to a supplier
B.    an EFT, EDI, or XML to the bank of a supplier
C.    a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier
D.    transmission of payment information to an external party, such as your bank, that prints checks on your behalf

Answer: C

QUESTION 12
With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.

A.    issued
B.    updated
C.    negotiable
D.    reconciled

Answer: D

QUESTION 13
Which event reverses an accrual for an item set to accrue on receipt?

A.    paying an invoice
B.    delivering goods to a final destination
C.    running the Receipt Accruals – Period-end process
D.    matching an invoice in Payables to a purchase order

Answer: D

QUESTION 14
Identify three setup options that are defined in the Financial Options window. (Choose three.)

A.    interest
B.    retainage
C.    miscellaneous
D.    expenses clearing
E.    expense AP accrual account

Answer: BCD

QUESTION 15
Select two actions available in Oracle General Ledger. (Choose two.)

A.    deleting posted journals
B.    exporting data to subsidiary ledgers
C.    importing data from subsidiary ledgers
D.    consolidating balances in subsidiary ledgers
E.    consolidating balances from multiple ledgers

Answer: CE


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