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Oracle E-Business Suite R12.1 Payables Essentials 1Z0-517 Dumps With VCE and PDF Download (Question 176 – Question 200)

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QUESTION 176
Identify three prerequisites for the Payables period-close process. (Choose three.)

A.    resolving holds
B.    reconciling bank statements
C.    updating matured bills payable
D.    completing all receipt processing
E.    confirming or canceling all pay runs
F.    making adjustments to supplier invoices interfaced to Projects

Answer: ACD

QUESTION 177
Your client, Company A, has these requirements:
1. Asset invoices are entered in the Payables daily, but assets are transferred to Oracle Assets only once per week.
2. Payables journal entries have to be transferred to GL at least once per month for reporting purposes.
3. Oracle Projects balances must be updated once every month.
4. Payment batches must be processed daily.
On the basis of the above requirements, what would be the minimum recommended frequency of running the Transfer to GL program?

A.    daily
B.    weekly
C.    monthly
D.    once every two weeks

Answer: B

QUESTION 178
Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process?

A.    Invoice Register
B.    Create Accounting
C.    Invoice Audit Listing
D.    Payables Posted Payment Register

Answer: B

QUESTION 179
To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. Select three setup options for manual tax lines. (Choose three.)

A.    Regime
B.    Event Class
C.    Regime, Tax
D.    Configuration Owner
E.    Tax – Controls and Defaults
F.    Regime, Tax, Tax Jurisdiction

Answer: BDE

QUESTION 180
To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. You can set these options at the Event Class, Configuration Owner, or Tax level. Under the manual tax options (Event Class, Configuration Owner, or Tax level), which common capability is found?

A.    Allow Tax Recovery
B.    Allow Withholding Tax
C.    Allow Manual Tax Only Lines
D.    Allow Entry of Manual Tax Lines
E.    Allow Override for Calculated Tax Lines
F.    Allow Recalculation for Manual Tax Lines

Answer: E

QUESTION 181
You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust ____.

A.    the number of invoice lines
B.    the total header invoice amount
C.    the amount of another distribution
D.    the self assessed taxes in the Tax Details window

Answer: C

QUESTION 182
Select the income tax report that is NOT available in the Payables module.

A.    Withholding Tax by Invoice
B.    Withholding Tax by Supplier
C.    Withholding Tax by Payment
D.    Withholding Tax by Supplier Site

Answer: D

QUESTION 183
Select the Apply Withholding Tax Payables option that must be set to submit the Withholding Tax by Invoice Report.

A.    At Payment Time
B.    Allow Force Approval
C.    Allow Online Validation
D.    At Invoice Validation Time

Answer: D

QUESTION 184
Tax Content Services store and maintain the master and reference data that are needed to support the other components in E-Business Tax. You use the E-Business Tax application to model details about the tax setup for all your company tax requirements. Identify the two that are NOT a subcomponent of Tax Content Services. (Choose two.)

A.    tax jurisdictions
B.    tax condition sets
C.    basic tax configuration
D.    determining factor sets
E.    country default controls
F.    exemptions and exceptions

Answer: BD

QUESTION 185
Identify three E-Business Tax setup options. (Choose three.)

A.    set up supplier
B.    set up tax regimes
C.    set up tax recovery rates
D.    set up taxes and tax rates
E.    set up currency exchange

Answer: BCD

QUESTION 186
Identify three statements that are true about E-Business Tax and Payables. (Choose three.)

A.    In E-Business Tax, tax calculations are based on supplier’s site defaults.
B.    In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
C.    Payables is not integrated with E-Business Tax to provide tax services for invoices.
D.    With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.
E.    Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices.

Answer: BDE

QUESTION 187
Identify three statements that are true for E-Business Tax. (Choose three.)

A.    E-Business Tax transactions are strictly controlled and cannot be changed.
B.    E-Business Tax provides seeded tax registration types for local organizations.
C.    E-Business Tax provides a single point solution for managing your transaction-based tax requirements.
D.    E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation.
E.    E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface.

Answer: CDE

QUESTION 188
Payables leverages E-Business Tax to set up, calculate, and manage transaction taxes, such as Sales, VAT and Offset taxes. Which two taxes are NOT calculated and managed by Payables? (Choose two.)

A.    excise
B.    property
C.    customs duty
D.    vehicle license
E.    recoverable tax

Answer: BD

QUESTION 189
When you validate an invoice in Payables, E-Business Tax automatically performs four tasks. (Choose four.)

A.    creates distributions
B.    recalculates tax lines
C.    allocates tax amounts
D.    places tax-related holds on the invoice
E.    updates imported invoices into Payables

Answer: ABCD

QUESTION 190
To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must complete seven fields. Name three. (Choose three.)

A.    industry
B.    tax amount
C.    tax regime
D.    commodity
E.    supplier site

Answer: BCE

QUESTION 191
To set up Offset Tax under the Tax Configuration tab, which Tax Configuration tab must you select to locate and enable “Set as Offset Tax”?

A.    taxes
B.    tax rules
C.    tax rates
D.    tax statuses
E.    tax regimes

Answer: A

QUESTION 192
E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)

A.    Enable “Set as offset tax.”
B.    Enable “Allow tax recovery.”
C.    Set the default recovery settlement option to “Deferred.”
D.    Define tax accounts, tax expense, recoverable tax, and interim tax.
E.    Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.

Answer: BCDE

QUESTION 193
Self-assessed tax amounts are taxes that you are liable for, but do not appear on the invoice, such as use tax. To use self -assessed taxes, enable the Set for Self Assessment/Reverse Charge option when you define the ____ in the Party Tax Profile.

A.    set allow tax recovery
B.    tax registration information
C.    recoverable tax information
D.    set allow manual tax only lines

Answer: B

QUESTION 194
Identify three statements that are true about the withholding tax process. (Choose three.)

A.    Tax is automatically calculated at any calculation level.
B.    The withholding tax process is a part of Cash Management.
C.    Payables automatically generates withholding tax invoices to pay tax authorities.
D.    Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation.
E.    If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.

Answer: CDE

QUESTION 195
Identify three statements that are true for setting up withholding tax for a supplier and supplier site. (Choose three.)

A.    Withholding tax is an account distribution process.
B.    The withholding tax option can be overwritten at the invoice level.
C.    If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the supplier’s sites.
D.    Payables defaults the withholding tax group from the supplier site to the invoice and then to invoice distribution.
E.    The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject to withholding tax.

Answer: CDE

QUESTION 196
Assume that the withholding tax is calculated at the invoice payment time and the withholding tax rate is 20%. Identify three statements with the correct withholding tax calculations. (Choose three.)

A.    invoice amount $500, withholding tax $100 (20% of $500)
B.    invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200)
C.    invoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600)
D.    invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 – $250)
E.    invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 – $100)

Answer: ADE

QUESTION 197
Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.)

A.    The Withholding Tax Report is prepared by suppliers.
B.    The Withholding Tax Group defaults in from the supplier or supplier site.
C.    There can be multiple withholding tax codes with multiple tax authorities assigned to a group.
D.    You can set up a special calendar to define periods that Payables uses for automatic withholding tax.
E.    The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with.

Answer: BCD

QUESTION 198
Identify three statements that are true for the automatic withholding tax process. (Choose three.)

A.    Withholding tax type distributions are negative amounts.
B.    The Withholding tax group can be assigned only to an invoice distribution.
C.    Using automatic withholding tax, Payables creates the correct withholding tax distributions.
D.    Withholding tax distributions are automatically created during invoice validation or during payment processing.
E.    If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.

Answer: CDE

QUESTION 199
Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)

A.    Withholding distributions for a paid invoice can be reversed.
B.    If an invoice is paid or partially paid, withholding distribution cannot be reversed.
C.    Payables uses the supplier number as an invoice number for the tax authority’s invoice.
D.    Withholding tax distributions are automatically created during invoice validation or payment processing.
E.    Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.

Answer: BDE

QUESTION 200
Which types of invoices can be automatically generated (without any manual intervention), if the appropriate setup steps have been performed? (Choose three.)

A.    Interest Invoices
B.    Recurring Invoices
C.    Purchase order (PO) matched invoices
D.    Pay on receipt invoices
E.    Withholding tax invoices

Answer: ADE


PassLeader now are offering 100% pass ensure 1Z0-517 dumps! All 1Z0-517 exam questions have been updated with correct answers, welcome to download the newest PassLeader 1Z0-517 VCE dumps and PDF dumps: https://www.passleader.com/1z0-517.html (313 Q&As)

BTW: Download PassLeader 1Z0-517 dumps from Google Drive for free: https://drive.google.com/open?id=0B-ob6L_QjGLpamNRblFUamsxVW8