Download Oracle EBS R12.1 General Ledger Essentials.1z0-516.PassGuide.2018-05-25.395q.vcex

Vendor: Oracle
Exam Code: 1z0-516
Exam Name: Oracle EBS R12.1 General Ledger Essentials
Date: May 25, 2018
File Size: 497 KB
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Demo Questions

Question 1
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. They want to maintain an additional ledger for management reporting and analysis purposes. They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements. Choose two statements that are true in the given scenario. (Choose two.)
  1. The secondary ledger contains day-to-day transactions.
  2. The primary ledger must contain only management adjustments.
  3. The secondary ledger represents the complete management picture.
  4. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.
  5. Use ledger sets to combine primary and secondary ledgers to get the complete management picture.
Correct answer: DE
Question 2
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 of New Delhi must be reflected in Toronto's books. What conversion method would you use?
  1. Use journal-level secondary ledger conversion.
  2. Use subledger-level secondary ledger conversion.
  3. Use adjustment-level secondary ledger conversion.
  4. Use both subledger-level and adjustment-level secondary ledger conversion.
Correct answer: A
Question 3
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 and automated adjustments. The New Delhi office does not need a complete ledger to perform management or statutory reporting. Which four statements are true in the given scenario? (Choose four.)
  1. The Mumbai ledger is an adjustment-only secondary ledger.
  2. Perform all adjustments in the Mumbai ledger.
  3. Perform all day-to-day transactions in the New Delhi ledger.
  4. Use ledger sets to combine transaction data and adjustment data.
  5. Perform all day-to day-transactions and adjustments in the New Delhi ledger.
  6. Consolidate data in the Mumbai ledger with the New Delhi ledger while reporting.
Correct answer: ABCD
Question 4
In the context of adding, deleting, and disabling secondary ledgers, select two valid statements. (Choose two.)
  1. The subledger accounting method must be assigned if defining a balance- or journal-level subledger.
  2. The subledger accounting method must be assigned only to the secondary ledger in case of defining a subledger journals-level secondary ledger.
  3. The subledger accounting method must not be assigned if defining an adjustments-only secondary ledger for manual adjustments in General Ledger.
  4. The subledger accounting method need not be assigned to the primary ledger for assigning a subledger accounting method to the adjustments-only secondary ledger.
  5. The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.
Correct answer: CE
Question 5
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  
  2. reserve for encumbrance account - exchange rate gain/loss  
  3. non-postable net income account - average balance processing  
  4. ledger currency balancing account - for using Oracle subledgers and balance subledger journals by the entered currency and balancing segment value  
  5. entered currency balancing account - for using Oracle subledgers and balance foreign currency subledger journals by the ledger currency and balancing segment value  
Identify two correct mappings of accounts. (Choose two.)
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
Correct answer: AC
Question 6
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?
  1. Precision must be set to one.
  2. The list type must be set to long list of values.
  3. The maximum size of each segment of the accounting key flexfield must be five characters.
  4. The format type must be set to character, and the additional option of numbers only must not be selected.
Correct answer: D
Question 7
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 follows: 
D-Region-D  
The first segment is company, which has ten values.  
The second segment is division, which is represented by the rollup group region. It has six parent values. The last segment is account, which has 500 values.  
How many summary accounts would be generated by the template?
  1. 60
  2. 500
  3. 3,000
  4. 5,000
  5. 30,000
Correct answer: E
Question 8
You have the following information: 
The Accounting flexfield structure is "company, department, product, account." Product has two rollup groups: domestic and international. Department has one rollup group: manufacturing. All accounting flexfield segment values can use alphanumeric characters. 
Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total)
  1. T-T-T-T
  2. T-D-D-D
  3. D-D-D-D
  4. D-T-domestic-D
  5. D-manufacturing-D-T
  6. T-manufacturing-international-D
Correct answer: C
Question 9
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 values)  
  • cost centers (30 values)  
  • region (4 values)  
  • account (180 values)  
The total number of cash accounts is five that are associated with two parents: 
  • Three accounts are associated with the parent called Checking.  
  • Two accounts are identified with the parent called Savings.  
  • To combine the cash parents, you create a rollup group named Cash.  
Which summary account template would you create to review the cash balances by company? (D: Detail) (T: Total)
  1. D-D-D-Cash
  2. T-T-T-Cash
  3. D-T-D-Cash
  4. T-D-T-Cash
  5. T-D-D-Cash
  6. D-T-T-Cash
Correct answer: F
Question 10
When summary account templates are associated with the check-level advisory of budgetary control funds, what two actions must you perform? (Choose two.)
  1. The formula must be identified.
  2. The currency must be identified.
  3. The amount type must be identified.
  4. A debit or credit balance type must be assigned.
Correct answer: CD
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