Download Oracle EBS R12.1 General Ledger Essentials.1z0-516.PracticeTest.2018-11-09.398q.tqb

Vendor: Oracle
Exam Code: 1z0-516
Exam Name: Oracle EBS R12.1 General Ledger Essentials
Date: Nov 09, 2018
File Size: 2 MB
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Demo Questions

Question 1
Your client wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit is a group of cost centers and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements?
  1. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts.
  2. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the Rollup Groups.
  3. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts.
  4. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values.
  5. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the parent cost center values.
Correct answer: C
Question 2
Which three statements are true about the revaluation process? (Choose three.)
  1. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated using the revaluation rate.
  2. The revaluation process revalues the foreign currency portion of the account balances using the revaluation rate defined in the Period Rates table.
  3. The revaluation process should be executed after the transaction process has completed.
  4. You must post the revaluation journal entries.
Correct answer: ABD
Question 3
The GL user entered a taxable journal and posted it.  Later the user realizes that he entered a wrong tax code.  What should he do?
  1. delete the journal and re-enter it
  2. modify the tax code at the line level
  3. enter another journal with the difference in the tax amount
  4. reverse and re-enter the journal
  5. unpost the journal and re-enter it
Correct answer: D
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