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QUESTION 226
Which three events would cause accounting to be generated when the payables accounting process is run? (Choose three.)
A. Paying an invoice
B. Validating an invoice
C. Entering an purchase order
D. Clearing a payment with Cash Management
E. Delivering goods to a final destination when accruing receipts at period end
Answer: ABD
QUESTION 227
From which three areas do the defaults come when you enter a supplier? (Choose three.)
A. Items
B. Operating Unit
C. Financial Options
D. Payables Options
E. Receiving Options
Answer: CDE
QUESTION 228
The transaction Sweep Report generated as part of the payables close process shows some payments. What are the possible reasons? (Choose two.)
A. The payments were voided
B. The checks associated with the payments were not printed
C. One or more of the invoices paid by the payments were not accounts
D. The cash account code combination of the payments has been disabled
E. The suppliers for which the payments have been made have deactivated
Answer: CD
QUESTION 229
ABC.com wants to provide transparency in its Accounts Payable (AP) operations to its counterparts within the purchasing, Fixed Assets and General Ledger departments. Several complaints have surfaced regarding issues with IP process times and help up payments. The AP department must strictly adhere to accounting regulations about segregating job functions while trying to meet this requirement. Which task should be performed to make this possible?
A. Give access to all AIP forms and reports
B. Give AP inquiry-only access, only though Oracle responsibilities
C. Implement a Web-based version of Oracle AP that allows Web viewing of AP information
D. Create custom inquiry forms for them to view invoices and payments but not supplier information
E. Change the profile options to allow unrestricted viewing of the AP data in PO and GL so that the staff from these other areas do not have to log in to AP
Answer: B
QUESTION 230
The purpose of the Unrealized Gain / Loss Report is to review unrealized gains and losses on ____.
A. all invoices
B. foreign currency invoices
C. all invoices due to inflation effects
D. all invoices due to inflation effects
E. all invoices due to changes in the AP setup
Answer: B
QUESTION 231
ABC.com has closed its APR-XX Accounting period. The APR-XX period started on 27-MAR-20-20XX and ended on 26-APR-20XX. It has run the posted invoice register, the posted payments register and two accounts payable trail balance reports (as of 30-MAR-20XX and 30-APR-20XX). Unfortunately, the accounts do not balance. Which two actions should be taken? (Choose two.)
A. Check to make sure that all invoices for the period are paid
B. Check the dates on the accounts payable Trail Balance reports
C. Check to ensure that invoice and payment journals are posted in General Ledger
D. Check to make sure that there are no unaccounted transactions in APR-XX by using the Unaccounted Transactions report
Answer: BC
QUESTION 232
ABC.com has the following requirements:
1. Asset invoices are entered in AP daily, but assets are transferred to Oracle Assets only once a week.
2. Payables Journal entries have to be transferred to GL at least once a month for reporting purposes.
3. Oracle Projects balances have to be updated once every month.
4. Payment batches need to be processed daily.
Based on the above what would be the minimum recommended frequency of running the Transfer to GL program?
A. Daily
B. Weekly
C. Monthly
D. Once very two weeks
Answer: B
QUESTION 233
Which two methods would you recommend for preventing the creation of duplicate suppliers? (Choose two.)
A. Run the Vendor Audit Report
B. Recommend standard naming conventions for suppliers
C. Run the supplier listing by supplier name report to check the duplicates
D. Query the supplier in the supplier form before creating a new supplier
Answer: BD
QUESTION 234
Multiple Reporting Currencies (MRC) has been enabled for your client Company A. Which method would you recommended to your client for transferring accounting entries to GL using the payables transfer to GL process?
A. Transfer to GL with journal import for the primary set of books.
Repeat the process for each reporting set of books individually.
B. Transfer to GL with Journal import for the primary set of books and all associated reporting sets of books together.
C. Transfer to GL without journal import for the primary set of books.
Submit journal import for the primary set of books.
Repeat these steps for each reporting set of books.
D. Transfer to GL without journal import for the primary set of books and all associated reporting sets of books together.
Submit Journal import from GL for the primary set of books and all associated reporting books together.
Answer: B
QUESTION 235
At ABC.com’s site, under payables options, the transfer to GL option has been set to summarize by accounting period. The period end close processes for accounts parable have run and the payables journals (Purchase invoices and payments) have been created and posted in General Ledger. Which statement is true?
A. Drilling down from the journals of purchase invoices and payments categories in GL to payables is possible.
B. Drilling down from the journals of the payment category in GL to payables is possible, but drilling down from journals of the purchase invoices category in GL to payables is not possible.
C. Drilling down from the journals of the purchase invoices category in GL is possible but drilling down from journals of the payments category in GL to payables is not possible.
D. Drilling down from GL to payables is not possible.
Answer: A
QUESTION 236
One of your clients makes this statement during an AP meeting: Prepayments can be applied to Expense Report. What is your response?
A. Yes, if you make a schedule prepayment
B. Yes, but only if you set the correct profile option to do so
C. No, because prepayments can only be applied against invoices
D. Yes, you can prepay both invoices and expense reports
E. No, because prepayments can only be applied against invoices that ser set up to handle prepayments
Answer: D
QUESTION 237
In the accrual process for Period-End Accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)
A. Processing a receipt
B. Entering Purchase Order
C. Entering invoices and matching them in payables
D. Running in Period-End Accrual Program
Answer: CD
QUESTION 238
Which three methods can be used to enter invoice distributions? (Choose three.)
A. Using a distribution set
B. Matching an invoice to a receipt
C. Entering manually in the Distribution window
D. Using the Distribution Open interface
Answer: ABC
QUESTION 239
What is a benefit of the secondary tracking segment?
A. Additional security ensures that correct accounts are selected while entering transactions.
B. The Management segment is enabled automatically when the secondary segment is defined.
C. More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts.
Answer: C
QUESTION 240
Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process?
A. opening the next period
B. closing the current period
C. revaluing foreign currency balances
D. translating to the functional currency
E. consolidating to the parent set of books
Answer: C
QUESTION 241
Select two actions that ledger sets permit. (Choose two.)
A. performing variance inquiries
B. being used for mass budgets
C. sending budget balance inquiries
D. viewing account balances for multiple ledgers in one view
E. grouping multiple ledgers that share the same chart of accounts and calendar
Answer: DE
QUESTION 242
Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)
A. Create aliases.
B. Define a value set.
C. Define security rules.
D. Define an account structure.
E. Define valid segment values.
F. Create account combinations.
Answer: BDE
QUESTION 243
Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.)
A. It is an integrated extension of a ledger.
B. It replaces multiple reporting currencies.
C. Reporting currencies are the same as secondary ledgers.
D. Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options.
Answer: AB
QUESTION 244
Which three activities would use summary accounts? (Choose three.)
A. creating a monthly recurring standard journal entry to amortize goodwill
B. allocating the total monthly costs of the Information Services department to other departments
C. estimating a sales commission accrual based on the total of all product sales for each division
D. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries
Answer: BCD
QUESTION 245
The companys two senior executives have different budget figures. They want Peter, the GL accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them. What would be your response?
A. It is not possible to have more than one current budget.
B. Whether you can have multiple current budgets depends on the budget organization.
C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
D. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
E. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.
Answer: A
QUESTION 246
Identify the four setup options that control supplier defaults. (Choose four.)
A. financial options
B. payables options
C. receiving options
D. purchasing options
E. Payables system setup
F. Trading Community Architecture (TCA)
Answer: ABDE
QUESTION 247
Identify three ways that an invoice can be submitted for validation. (Choose three.)
A. online by clicking the Validate button in the Invoice Batches window
B. online by clicking the Validate and Account button in the Invoice Batches window
C. in batch by submitting the Payables Invoice Validation program from the Invoice Workbench
D. in batch by submitting the Payables Invoice Validation program from the Submit Request window
E. online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window
Answer: ADE
QUESTION 248
You are working on an implementation for Accounts Payable for ABC Inc. Your client has three requirements:
1. They want to be able to pay only certain types of suppliers by batch.
2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without user intervention.
3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment is automatically not issued.
To meet the above requirements, you perform these steps:
(a) Set up suppliers with pay groups for each type, and use them when running the payment batch.
(b) Set up the payment batch with Maximum Outlay equal to $100,000 USD.
(c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD.
Which requirements have you met?
A. 2 and 3
B. 1, 2 and 3
C. 1 and 2
D. 1 and 3
Answer: D
QUESTION 249
Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.
A. a paper check to print and send to a supplier
B. an EFT, EDI, or XML to the bank of a supplier
C. a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier
D. transmission of payment information to an external party, such as your bank, that prints checks on your behalf
Answer: C
QUESTION 250
With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.
A. issued
B. updated
C. negotiable
D. reconciled
Answer: D
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