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

Vendor: Oracle
Exam Code: 1z0-516
Exam Name: Oracle EBS R12.1 General Ledger Essentials
Date: Nov 09, 2018
File Size: 314 KB
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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
Question 4
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 not allow you to create?  
(D: Detail) 
(T: Total)
  1. D-D-D-D
  2. T-Manufacturing-International-D
  3. D-T-Domestic-D
  4. D-Manufacturing-D-T
  5. T-T-T-T
  6. T-D-D-D
Correct answer: A
Question 5
Which two statements would be true when helping a customer make implementation decisions for General Ledger? (Choose two)
  1. Integration issues can be minimized.
  2. Training can be standardized when Oracle is implemented without customization.
  3. Patching cannot be done on a customized implementation.
  4. All Oracle subledger journals go directly to General Ledger to overcome interface problems.
  5. Cost of upgrades would not be affected.
Correct answer: AB
Question 6
During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he e-mails you a checklist of scenarios in which batches cannot be deleted. Which scenarios would be on this checklist? (Choose three.)
  1. The journal batch has not been approved.
  2. Funds are in the process of being reserved for the batch.
  3. The source is frozen.
  4. Funds have been reserved for the batch.
  5. The journal batch has not been posted.
Correct answer: BCD
Question 7
Select the three true statements about mapping rules. (Choose three.)
  1. There are only two mapping rule actions: 1. Copy Value from; 2. Assign Value from
  2. Mapping sets enable you transfer data from multiple subsidiaries simultaneously.
  3. A rollup rule tells General Ledger what detail level of information to transfer and how to roll that information up to the parent.
  4. You can define a combination of segment values and account rules.
  5. There are only three rollup rules: 1. Transfer Level Detail - Using Detail Ranges; 2. Transfer Level Detail - Using Parent; 3. Transfer Level Summary - Using Parent
Correct answer: BCD
Question 8
What are two benefits of using the Journals Import: Group By Effective Date profile option? (Choose two.)
  1. Facilitate more transparent exchange rate conversions.
  2. Make daily updates to daily business intelligence.
  3. Facilitate consolidation.
  4. Account for business transactions by effective date or by accounting date.
Correct answer: BD
Question 9
You are implementing Oracle General Ledger at a client site.  The client is based in the U.S. but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. The GL accountant tells you that the companys outstanding loans in Europe in euros, and at every month end there is a need to revalue and report these loans in US dollars on the current exchange rate. She wants a system that automatically performs this revaluation using the month-end exchange rates.  She wants to know whether this requirement can be satisfied. What is your response?
  1. Oracle GL provides this functionality and there is no problem in satisfying the requirement.
  2. Account generator needs to be customized to satisfy this requirement.
  3. Workflow needs to be customized to satisfy this requirement.
  4. Oracle GL does not support this functionality.
Correct answer: A
Question 10
ABC.com wants to compare actual amounts against their budgeted amounts.  Which reporting or query options would provide that detail? (Choose two.)
  1. Account Analysis
  2. On-line Account Inquiry
  3. On-line Budget Inquiry
  4. Trial Balance
  5. Financial Statement Generator
Correct answer: BE
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