1Z0-516 lab(141 to 150) for candidates: Jul 2016 Edition

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2016 Jul 1Z0-516 exam question

Q141. ABC.com has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart of accounts (COA) structure. The COA structure also has an Intercompany segment (with Intercompany Qualifier) that uses the same value set as the Company segment. Which three options will best use GL Intercompany functionality, given the multiple sets of books that share a common COA? (Choose three.) 

A. Enable security for the Company segment, and define appropriate security rules, and assign them to the responsibility for each set of books. 

B. Enable the profile option that automatically creates intercompany accounting across sets of books. 

C. Enable the Balance Intercompany Journal option when defining each set of books. 

D. Create a clearing company for each set of books to handle many-to-many intercompany accounting in each set of books. 

E. Enable security for the Company and Intercompany segments, and define appropriate security rules, and assign them to the responsibility for each set of books. 

Answer: ACD

Q142. Identify the sequence of the steps that are required for performing the accounting setup from this list. 

1. Define accounting options. 

2. Define primary ledger. 

3. Define legal entities. 

4. Assign legal entities to accounting setup. 

5. Complete accounting setup. 

6. Define secondary ledgers. 

A. 1, 2, 3, 4, 5, 6 

B. 3, 4, 2, 6, 1, 5 

C. 3, 4, 2, 6, 5, 1 

D. 1, 3, 2, 4, 5, 6 

Answer: B

Q143. Which three statements are true about mapping rules? (Choose three.) 

A. The Subsidiary set of books and Parent set of books must have the same chart of accounts to use segment-mapping rules. 

B. You can define account rules. 

C. You can define segment rules instead of account rules for faster processing. 

D. You can define segment mapping rules. 

E. You can modify your rollup rule after it has been saved. 

F. You can define segment or account rules, but not a combination of both. 

Answer: BCD

Q144. ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US (West) has budgetary control enabled and the US (East) requires approvals for journals. All operations share the same chart of accounts, accounting calendar, and subledger accounting method. The US (West) and the US (East) operate on the USD currency. The UK's currency is GBP, whereas France operates on the EUR currency. Identify the least number of legal entities and accounting setups to be created. 

A. 1 legal entity and 4 accounting setups 

B. 4 legal entities and 1 accounting setup 

C. 3 legal entities and 3 accounting setups 

D. 4 legal entities and 4 accounting setups 

Answer: D

Q145. Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.) 

A. Account Analysis 

B. Trial Balance - Detail 

C. Currency - Daily Conversion Rates Listing 

D. Chart of Accounts - Segment Values Listing 

E. Other - Calendar Validation Report 

Answer: AB

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Q146. Oracle General Ledger provides a variety of ways to get information from reports and queries. What can you do using standard reports that you cannot do using on-line queries? (Choose all that apply.) 

A. group reports into report sets 

B. review T-Accounts 

C. view non-financial information 

Answer: AC

Q147. Select the two minimum set up steps for intercompany accounting. (Choose two.) 

A. Define a value set for the Company and Intercompany segments. 

B. Set up intercompany accounts for journal source and journal category of Other. 

C. Set up intercompany accounts for every journal source and journal category for intercompany transactions. 

D. Define a clearing company for all many-to-many intercompany journals. 

E. Include an Intercompany segment in the chart of accounts structure. 

F. Define a journal source and a journal category for Intercompany. 

G. Enable the Intercompany Qualifier for the Intercompany segment. 

H. Enable Balance Intercompany Journal when defining the set of books. 

Answer: BH

Q148. You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation. Identify two setups required for journal approval. (Choose two.) 

A. Enable journal approval for the Journal Category window. 

B. Disable the Journal: Find Approver Method profile option. 

C. Enable the Journal: Allow Preparer Approval profile option. 

D. Configure the GL journal approval process in Oracle Workflow Builder. 

Answer: CD

Q149. Suppliers play an important part in the Procure-to-Pay process. Select three activities that you must perform using a supplier. (Choose three.) 

A. You receive goods or services from suppliers. 

B. You need supplier information for entering purchase orders. 

C. You must pay the supplier for the goods or services purchased. 

D. You need a supplier as the criterion to search for a payment in the system. 

E. You need a supplier as the criterion to search for purchase orders in the system. 

Answer: ABC

Q150. The controller has asked you to produce a report that identifies the total outstanding receivable by customer, as of the period-ending date. Which report would fulfill this request? 

A. Journal Entry Report 

B. Receipts Journal 

C. Applied Receipt Register 

D. Aging Report 

E. Account Analysis by Subsidiary Ledger 

F. Transaction Register 

G. Sales Journal by General Ledger Account 

Answer: D

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