[Free] 2018(Jan) EnsurePass Passguide Oracle 1z0-516 Dumps with VCE and PDF Download 221-230

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Oracle EBS R12.1 General Ledger Essentials

Question No: 221 – (Topic 3)

Which is the final step in processing a payment batch?

  1. Cancel the payment batch.

  2. Confirm the payment batch.

  3. Validate the payment batch.

  4. Run the create accounting process.

  5. Transfer the batch to General Ledger.

Answer: B

Question No: 222 – (Topic 3)

A reversing journal entry can be posted into .

  1. a current or any future open period

  2. a past closed period and a current open period

  3. a current open period and a never-opened period

Answer: A

Question No: 223 – (Topic 3)

Identify three statements that properly describe the use of distribution sets. (Choose three.)

  1. Assign a distribution set to an invoice when you enter it.

  2. Use full distribution sets to create distributions with no set percentage amounts.

  3. Use skeleton distribution sets to create distributions with set distribution amounts.

  4. Assign a default distribution set to a supplier site, so Payables will use it for every invoice you enter for that supplier site.

  5. Use a distribution set to enter distributions for an invoice automatically when you are not matching it to a purchase order.

Answer: A,D,E

Question No: 224 – (Topic 3)

Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of the 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#39;s requirements?

  1. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers; creating FSG based on the rollup groups

  2. defining parent cost centers and a hierarchy of parent/child cost centers; creating

    summary accounts based on the parent cost centers; creating FSG based on the parent cost center values

  3. defining parent cost centers and a hierarchy of parent/child cost centers; defining summary accounts for the parent cost centers; creating FSG based on the parent cost center values or summary accounts

  4. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts

Answer: D

Question No: 225 – (Topic 3)

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

  1. have similar ledger processing options

  2. open and close periods simultaneously

  3. have tax requirements that are specific for a legal entity

  4. require autonomous document sequencing for a legal entity

  5. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

Answer: A,B,E

Question No: 226 – (Topic 3)

Choose three required steps while performing the accounting setup in the Accounting Setup Manager. (Choose three.)

  1. Define operating units.

  2. Update accounting options.

  3. Complete the accounting setup.

  4. Define intercompany balancing rules.

  5. Create the accounting setup structure.

  6. Assign balancing segment values to legal entities.

Answer: B,C,E

Question No: 227 – (Topic 3)

To set up and use Multiple Organization Access Control (MOAC) most effectively, you need to define three profile options. (Choose three.)

  1. MO: Operating Unit

  2. HR: Security Profile

  3. MO: Security Profile

  4. HR: Business Group

  5. MO: Default Operating Unit

Answer: A,C,E

Question No: 228 – (Topic 3)

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

  1. Enable journal approval for the Journal Category window.

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

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

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

Answer: C,D

Question No: 229 – (Topic 3)

ABC Corp. wants to allocate the gross amount of XYZ Co. invoices to fifty cost centers each time an invoice is received from them. The cost centers that are to be charged require minimal updating. Select the option you would recommend that requires minimal ongoing maintenance.

  1. Import predefined invoices from an Excel spreadsheet.

  2. A customization may be created to allocate the charges at the end of the month.

  3. Create an invoice and use the prorate functionality to allocate the cost across accounts.

  4. Make it an operational policy that all invoices of this type are created listing all the desired accounts.

  5. Create a distribution set for all the desired accounts and associate it to all new invoices for this supplier.

Answer: E

Question No: 230 – (Topic 3)

You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger that reflects XYZ Company#39;s business. Select four data elements that you would need to obtain from XYZ Company to create a ledger for your demo. (Choose four.)

  1. the suspense account

  2. the intercompany account

  3. the retained earnings account

  4. the number of accounting periods

  5. the base (functional) currency of the company

  6. the accounting calendar with periods and the fiscal year-end

  7. the company organization structure for the chart of accounts

Answer: C,E,F,G

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