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Oracle EBS R12.1 General Ledger Essentials

Question No: 41 – (Topic 1)

ABC.com has two sets of books and six inventory organizations. What is the minimum number of times that ABC.com needs to run the general ledger interface in order to close the inventory at the end of each accounting cycle?

  1. 6

  2. 4

  3. 2

  4. 10

  5. 12

  6. 8

Answer: A

Question No: 42 – (Topic 1)

ABC.com is a U.S.-based company with business operations in North America and Europe. It has existing Oracle GL sets of books in its single global instance. All sets of books use a global chart of accounts and a common accounting calendar.

It just expanded its business to Australia and acquired two new companies with the same year end as ABC.com. It wants to be able to include the new companies in existing financial reports created with Financial Statements Generator (FSG).

How can it easily integrate the two new companies into its existing GL with minimal effort?

  1. Define the new company values, enable AUD currency and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the two new sets of books into their existing consolidation set of books.

  2. Define two new company values, define a new AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.

  3. Define two new company values, enable AUD currency, and define a new set of books. Translate AUD to USD and include the two new companies for FSG reports in USD.

  4. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books.

  5. Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD and include the two new companies for FSG reports in USD.

Answer: C

Question No: 43 – (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#39;s three correct points. (Choose three.)

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

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

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

  4. You can set up GIS so that the sender#39;s transactions do not need to be approved by the receiver.

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

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

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

Answer: D,F,G

Question No: 44 – (Topic 1)

ABC.com wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.)

  1. Trial Balance

  2. Account Analysis

  3. On-line Account Inquiry

  4. On-line Budget Inquiry

  5. Financial Statement Generator

Answer: C,E

Question No: 45 – (Topic 1)

To review available Financial Statement Generator elements, which two reports would be helpful? (Choose two.)

  1. Column Set Detail Listing, Report Detail Listing

  2. Content Set Detail Listing, Report Set Detail Listing

  3. Column Set Summary Listing, Row Set Detail Listing

  4. Content Set Detail listing, Chart of Accounts – Rollup Detail Listing

Answer: C

Question No: 46 – (Topic 1)

After discussions with the client, the implementation team decides that the GL Autoallocation functionality would help satisfy the clients requirements to automatically allocate the rent and other expenses to all the departments based on the defined formula. The GL accountant comes to you with a requirement that the approver of the journal should be automatically informed once the journal is generated. What is your response?

  1. Dynamic Insert must be enabled to satisfy this requirement.

  2. It is not possible to satisfy this requirement.

  3. Cross-validation rules must be defined to satisfy this requirement.

  4. Autoallocation uses Workflow, so there is no problem in satisfying this requirement.

Answer: D

Question No: 47 – (Topic 1)

Which two are true statements regarding elimination? (Choose two.)

  1. You must specify an elimination company in the Elimination Sets window.

  2. You can define balancing options for eliminating entries.

  3. You can define an elimination set to contain a single elimination entry.

  4. Currency is an optional component when defining an elimination set.

Answer: A,D

Question No: 48 – (Topic 1)

Which report would provide information about the processing type (parallel or sequential) that may be defined for reports?

  1. Report Detail Listing

  2. Content Set Summary Listing

  3. Row Set Summary Listing

Answer: B

Question No: 49 – (Topic 1)

What are two benefits of using the Journals Import: Group By Effective Date profile option? (Choose two.)

  1. Facilitate more transparent exchange rate conversions.

  2. Make daily updates to daily business intelligence.

  3. Facilitate consolidation.

  4. Account for business transactions by effective date or by accounting date.

Answer: B,D

Question No: 50 – (Topic 1)

ABC.com, the GL accountant comes to you with a requirement to define a particular

Autoallocation request set where approvers are sent notifications automatically for the generated journals. If there are any problems in generating the journals, then he should have the option to rollback the whole process. What is your response?

  1. Cross-validation rules must be defined to satisfy this requirement.

  2. It is not possible to satisfy this requirement.

  3. The GL:Autoallocation Rollback Allow profile option must be enabled.

  4. Dynamic Insert must be enabled to satisfy this requirement.

Answer: C

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