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Oracle 1z0-516 Exam - Oracle EBS R12.1 General Ledger Essentials

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Questions & Answers for Oracle 1z0-516

Showing 1-15 of 773 Questions

Question #1 - Topic 1

The clients GL accountant ABC.com comes to you with a problem. A journal cannot be
posted because it has not been approved. The preparer cannot submit the journal for
approval because the Approve Button is grayed out in the Enter Journals form, and the
supervisor has not received a notification requesting the approval. What do you suggest as
the possible cause for this problem?

A. Budgetary control has been enabled for the set of books, and funds have not been reserved for the journal.

B. Authorization limits have not been defined properly and the GL Period is closed.

C. The Profile option Allow Preparer Approval needs to be reset.

D. One of the GL account code combinations in the journal is invalid.

Question #2 - Topic 1

What are the possible posting options in Oracle General Ledger?

A. Post Journal batches individually Post multiple batches Use AutoPost

B. Post Journal batches individually Post multiple journals

C. Post multiple batches Post batches that meet specific criteria by submitting a concurrent request

D. Post Journal batches individually Post multiple batches Post batches that meet specific criteria by submitting a concurrent request and using Journal Approval

Question #3 - Topic 1

ABC.com is getting ready to complete its month-end process. It needs to create a profit and
loss statement and it wants to use the Financial Statement Generator feature to create the
report. Which two elements are required to create the report? (Choose two.)

A. Workbook

B. Column Set

C. Row Set

D. Content Set

E. Report Set

Question #4 - Topic 1

The clients GL accountant, George, is responsible for taking care of recurring journals. He
comes to you with a problem. He defined a recurring journal batch, and after that he
generated the recurring journal from the definition. He wants to know whether he can add
new lines in this unposted journal. What explanation would you give to George?

A. The Allow Dynamic Insert box is not selected for the accounting flexfield.

B. The GL period is closed.

C. Additional lines can be added to an unposted recurring journal through Review journal window.

D. The GL accounts entered in the Enter Journal form relate to items that do not exist in the item master organization in the inventory module.

E. The GL account code combination is invalid.

Question #5 - Topic 1

ABC.com would like a consolidation process to consolidate operations in the UK and US.
ABC.com requires a summary of transactions from both companies. Company 01 is
located in Chicago; Company 02 is located in London. Both companies share only the
same calendar. Which actions should be considered when defining the consolidation
process for ABC.com? (Choose all that apply.)

A. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.

B. Select the transaction method for transferring data from Company 01 to Company 90.

C. Define an elimination set to include a group of related elimination entries.

D. Define mapping rules to map Company 01 and Company 02 to Company 90.

Question #6 - Topic 1

ABC.com has a legal entity in each of its business operations in the United States, Canada,
Malaysia, Singapore, and Italy. The controller in Italy advises that the corporation must use
the Italian statutory accounts as its natural accounts. The corporation decides to define five
sets of books (one for each country) but wants to use a single, global chart of accounts
structure. Choose a possible design (for the sets of books) that uses a single, global chart
of accounts structure, and also meets the Italian controller's requirement.

A. The chart of accounts structure uses a different Value Set for the Account segment for Italy.

B. The length of the Account segment for Italy is different from that for the other countries.

C. The list of values in the Account segment includes a range reserved for Italy.

D. The chart of accounts structure contains an extra segment for Italy.

E. The chart of accounts structure for Italy uses Account values prefixed with a special character.

Question #7 - Topic 1

ABC.com, the GL accountant, says that he has heard about the budget upload functionality
of Oracle GL and he is eager to test it. She is unable to test it in the CRP instance. What is
your explanation?

A. The budget can be uploaded.

B. The budget dates in the budget organization have a different date range.

C. The GL account code combination is not valid.

D. Budget journals are required at the set of books level

E. The GL period is closed.

Question #8 - Topic 1

Your client would like a consolidation process to consolidate operations in the UK and US.
Your client requires a summary of transactions from both companies. Company 01 is
located in Chicago; Company 02 is located in London. Both companies share only the
same calendar. Which actions should be considered when defining the consolidation
process for your client? (Choose all that apply.)

A. Define mapping rules to map Company 01 and Company 02 to Company 90.

B. Define an elimination set to include a group of related elimination entries.

C. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.

D. Select the transaction method for transferring data from Company 01 to Company 90.

Question #9 - Topic 1

ABC.com, the GL accountant, comes to you and says that he has defined the budget, and
budget amounts have been entered and approved by management. After approval he
wants his assistant accountants to NOT be able to update this budget. What is your
response?

A. If the client wants to do this, then customization of workflow is the only option.

B. If the client wants to do this, then the budget status should be Current.

C. If the client wants to do this, then the budget status should be Frozen.

D. Oracle GL budget functionality cannot satisfy this requirement.

Question #10 - Topic 1

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.)

A. The journal batch has not been approved.

B. Funds are in the process of being reserved for the batch.

C. The source is frozen.

D. Funds have been reserved for the batch.

E. The journal batch has not been posted.

Question #11 - Topic 1

Exhibit:

You work as a DBA for ABC.com. Please study the exhibit carefully.
ABC.com wants to distribute rent expense to its various departments on the basis of floor
space. It has taken these steps:

Which are the next two steps needed to distribute the rent cost to the various departments?
(Choose two.)

A. Post the journal.

B. Define and generate MassAllocation.

C. Define the MassAllocation journal.

D. Create manual journal entries for distributing rent.

Question #12 - Topic 1

What is the effect of summary accounts on the efficiency of the posting process?

A. There is no effect, because summary accounts do not use the posting process to accumulate values.

B. Use of summary accounts decreases the efficiency of the posting process.

C. Use of summary accounts increases the efficiency of the posting process.

D. Use of summary accounts neither increases nor decreases the efficiency of the posting process.

Question #13 - Topic 1

ABC.com wants to define a consolidation process for its enterprise.
It has two sets of books: Set of Books A and Set of Books B.
Both sets of books will use Oracle General Ledger.
Set of Books A has three companies with the same calendar and chart of accounts as Set
of Books B.
Set of Books A has USD as its currency.
Set of Books B has four companies with the same chart of accounts and calendar as Set of

A. Interface Data Transformer

B. Global Intercompany System

C. Oracle Financial Analyzer

D. Financial Statement Generator

Question #14 - Topic 1

Jason, the corporate controller of ABC.com where you are implementing Oracle General
Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global
Intercompany System (GIS). He wrote some notes from a conversation with his accounting
manager about GIS. He wants you to validate which points he has written down about GIS
are true. Identify Jason's three correct points. (Choose three.)

A. GIS enables intercompany transactions to be approved after transfer from AP and AR.

B. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books.

C. Intercompany journals are created automatically as soon as they are approved.

D. You can set up GIS so that the sender's transactions do not need to be approved by the receiver.

E. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.

F. Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.

G. You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated.

Question #15 - Topic 1

Select the three true statements about mapping rules. (Choose three.)

A. There are only two mapping rule actions: 1. Copy Value from; 2. Assign Value from

B. Mapping sets enable you transfer data from multiple subsidiaries simultaneously.

C. A rollup rule tells General Ledger what detail level of information to transfer and how to roll that information up to the parent.

D. You can define a combination of segment values and account rules.

E. 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

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