1Z0-517 Online Practice Questions and Answers

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 Entries Execution report reports. (Choose three.)

A. Budget Journals

B. Posted Journals report

C. Payables encumbrance entries

D. Purchasing encumbrance entries

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 closed status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.

What must the user do?

A. Open Dec-04; enter and post the journal; close the period.

B. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods.

C. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.

D. The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in Mar

05.

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? (Choose two.)

A. Assigning legal entities to accounting setups is compulsory.

B. After the subledger accounting method is assigned, it cannot be changed.

C. Before completing the accounting setup, secondary ledgers and currency can be deleted.

D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.

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.

Invoices must be numbered by the system.

4.

Accounting entries must be created for all invoice types.

5.

All credit memos above a certain dollar amount must be approved before entry.

6.

Four-way matching is enforced.

Select the profile option to be configured that will satisfy the above requirements.

A. AP: Invoice Match

B. AP: Use Invoice Batch Controls

C. AP: Enable Invoice Autonumbering

D. AP: AP Discounts Interface Start Date

E. AP: Use Invoice Accounting For Credit Memos

Identify three statements that are true for electronic or wire payment. (Choose three.)

A. A wire payment validates the supplier's bank details.

B. More bank accounts for a supplier or supplier site can be added.

C. Supplier banks must be assigned to the supplier for electronic payment.

D. Payables does not require supplier bank account information for a wire payment.

E. Electronic payment instructs the bank to make payment to a supplier bank account.

R12 uses simplified navigation paths. To which specific button or navigational notation does (ST) refer?

A. start

B. stop

C. save

D. submit

E. search

F. subtab

When setting up financials and Payables options, which two options can only be defined if you have Multi-Org enabled? (Choose two.)

A. Accounting

B. Tax Options

C. Invoice Controls

D. Payment Options

Which three programs submit their own reports, without any user intervention? (Choose three.)

A. Invoice Matching

B. Invoice Cancellation

C. Payment Confirmation

D. Expense Report Import

E. Invoice Validation

Identify the profile option that is required to enable Multi-Org Access Control for multiple Operating Units.

A. HR: User Type

B. MO: Operating Unit

C. MO: Security Profile

D. HR: Business Group

E. MO: Default Operating Unit

To transmit an electronic payment instruction manually, perform these four steps.

1.

In the Payments Manager, select the Payment Instruction tab.

2.

In the Status field of the Search region, select Formatted - Ready for Transmission and click the Go button.

3.

For the applicable payment instruction, click the Take Action icon. The Transmit Payment Instruction: page is displayed.

4.

From the Action drop-down list, select Transmit and click the Go button.

Arrange the steps in the proper sequence they would be performed.

A. 1, 3, 2, 4

B. 1, 2, 3, 4

C. 1, 3, 4, 2

D. 2, 3, 4, 1