1Z0-516 Exam - Oracle EBS R12.1 General Ledger Essentials

NEW QUESTION 1
ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart of accounts, accounting calendar, accounting method, and ledger-processing options.
UK management requires reporting on receivables from its US operations in GBP each month. Identify the best option for the US operations to report to their parent.

• A. Create an account-level reporting currency.
• B. Create a subledger-level reporting currency.
• C. Create a journal-level reporting currency for every transaction.
• D. Create a balance-level reporting currency and run general ledger translation.

Answer: B

NEW QUESTION 2
In the Multi-Org model, which organization type is the highest level that impacts accounting?

• A. Ledger
• B. Operating Unit
• C. Business Group
• D. GRE/Legal Entity
• E. Inventory Organization

Answer: A

NEW QUESTION 3
The company's 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

NEW QUESTION 4
A customer attempts to set up Subscription Ordering on their site using the steps outlined in the ABO Implementation Guide. The site has been previously set up with BOM Mapping for a specific model. Upon testing the Subscription Ordering functionality for this model, they notice that no values are populated in the Action Code Transaction Line level attribute when adding line items to their Transaction.
Which statement is true?

• A. They specified an incorrect site URL in the abo_initializeContext BML Util Library function (Admin > BML Library)
• B. They selected an incorrect function for the “BML Util Function” selection under BOM settings (Admin> BOM > Declare Util Function)
• C. They provided incorrect BOM Mapping values for the model in the BOM Item Definition and BOM Item Mapping tables (Admin > Data Tables)
• D. They added an incorrect reverse mapping entry for the model in the Oracle_aboPart2Model table (Admin > Data Tables)
• E. They failed to incorporate conditionals to handle action code statuses in the formula for the Price (List) Transaction attribute (Admin > Process Definition > Formulas)

Answer: C

NEW QUESTION 5
Identify two options to which transactions can be forwarded using forwarding rules. (Choose two.)

• A. any of the users who are part of the Approval group
• B. any email address registered in the CPQ Cloud system
• C. users
• D. user groups

Answer: CD

NEW QUESTION 6
When designing an integration with an ERP system, you must communicate with a third party integration tool (such as a middleware or a hub).
Which three methods can be used to communicate with a middleware in this scenario? (Choose three.)

• A. Automated FTP
• B. DataCube Reporting
• C. urldata function call in a Commerce Advanced Modification BML function
• D. Commerce Integration Cloud Service Integration on an Action
• E. Formula Management
• F. Send XML on a Transition Rule via Real Time Integration
• G. Commerce Integration XSLs on an Action

Answer: CDF

NEW QUESTION 7
In which two locations are the keywords for mobile processing of quotes defined when setting up approvals? (Choose two.)

• A. Mobile Approval Email Notification
• B. Submit sub-action - Reject
• C. Submit sub-action - Approve
• D. Submit sub-action – Submit for Approval

Answer: BC

NEW QUESTION 8
The client's GL accountant comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem?

• A. The profile option GL: Allow Preparer Approval must be reset.
• B. One of the GL account code combinations in the journal is invalid.
• C. Authorization limits have not been defined properly and the GL period is closed.
• D. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.

Answer: D

NEW QUESTION 9
When structuring the summary accounts hierarchy, what fact must you take into consideration?

• A. Grandparenting is not allowed (parents cannot become children).
• B. You must include every parent value that is defined in the chart of accounts to a rollup group.
• C. General Ledger will not automatically maintain rollup relationships from the summary level to the lowest detail level.
• D. You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.

Answer: D

NEW QUESTION 10
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

NEW QUESTION 11
Which two statements are true regarding ownership of shared entities? (Choose two.)

• A. Items is owned by Oracle Purchasing, whereas Locations is owned by Oracle Receivables.
• B. Suppliers is owned by Oracle Purchasing, whereas Units of Measure is owned by Oracle Inventory.
• C. Ledger is owned by Oracle General Ledger, whereas Locations is owned by Oracle Human Resources.
• D. Customers is owned by Oracle Human Resources, whereas Locations is owned by Oracle Receivables.
• E. Sales Force is owned by Oracle Order Management, whereas Employees is owned by Oracle Human Resources.

Answer: BC

NEW QUESTION 12
You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes.
They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements.
Choose two statements that are true in the given scenario. (Choose two.)

• A. The secondary ledger contains day-to-day transactions.
• B. The primary ledger must contain only management adjustments.
• C. The secondary ledger represents the complete management picture.
• D. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities.
• E. Use ledger sets to combine primary and secondary ledgers to get the complete management picture.

Answer: DE

NEW QUESTION 13
Select two statements that are true about Test Script found in a function debugger. (Choose two.)

• A. Test Script describes the various functions used in BML
• B. Test Script is template of how the BML function should be written
• C. Test Script provides a way to test a BML Library function when array type attributes are input parameters
• D. Test Scripts can be used to compute multiple iterations of the library functions and print each

Answer: AC

NEW QUESTION 14
XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments.
All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained.
Identify the number of legal entities to be created and the number of accounting setups.

• A. Create one legal entity and four accounting setups.
• B. Create four legal entities and one accounting setup.
• C. Create two legal entities and four accounting setups.
• D. Create four legal entities and four accounting setups.

Answer: D

NEW QUESTION 15
A manager wants to review the cash balance by company. He has asked you to create the summary account template. The company’s accounting flexfield has four segments:
company (5 values) cost centers (30 values) region (4 values)
account (180 values)
The total number of cash accounts is five that are associated with two parents:
Three accounts are associated with the parent called “Checking.” Two accounts are identified with the parent called “Savings”.
To combine the cash parents, you create a rollup group named “Cash.”
Which summary account template would you create to review the cash balances by company? (D: Detail)
(T: Total)

• A. D-D-D-Cash
• B. T-T-T-Cash
• C. D-T-D-Cash
• D. T-D-T-Cash
• E. T-D-D-Cash
• F. D-T-T-Cash

Answer: F

NEW QUESTION 16
Which is the correct procedure for adding multiple files to File Manager in a single step?

• A. Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to “Browse for ZIP File:”, identify the zip file to upload, and click the Add File button.
• B. Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to “Browse for ZIP File:”, and click the Add/Update File button.
• C. Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to “Browse for ZIP File:”, identify the zip file to upload, and click the Add File button.
• D. Click File Manager on the Admin home page, click the Browse button next to “Browse for ZIP File”, identify the zip file to upload, and click the Add/Update Files button.
• E. Click File Manager on the Admin home page, select the folder where you want to store the new files, click the Browse button next to “Browse for ZIP File:”, identify the zip file to upload, and click the Add/Update Files button.

Answer: E

NEW QUESTION 17
Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?

• A. Natural accounts were defined as parent values.
• B. Natural accounts were defined to not allow posting.
• C. Natural accounts were defined with an incorrect account type.
• D. Natural accounts were defined to store both statistical and monetary values.

Answer: C

NEW QUESTION 18
Which are three testing strategies for Oracle CPQ Cloud? (Choose three.)

• A. Perform isolated tests as well as intra-system and cross-system integration tests
• B. Test cases should be directly linked to business requirements
• C. Avoid using a test case tracking tool because it is time consuming to track all of the testing team’s efforts
• D. Create specific test data for accounts, opportunities, and contracts in the CRM system and use that data to perform end-to-end tests for CPQ Cloud quotes

Answer: ABD

NEW QUESTION 19
Your customer has sales organizations in two countries.
The customer wants to make sure that users from one country have access only to quotes from that country. How do you achieve this?

• A. Define two groups: Country A and Country
• B. For each step, define two different participant profiles: Profile A and Profile
• C. For each profile, select one matching group.
• D. Hide Transaction Manager in CPQ and make sure that all access to quotes is performed from the CRM system where you can easily define which quotes should be visible for different users.
• E. Define different steps (for example, Pending A and Pending B) for each countr
• F. The participant profile of each step allows access through user groups (either Group A or Group B depending on the step). Using transition rules, make sure that quotes for Country A are always moved to steps belonging to that country.
• G. Define two groups: Country A and Country
• H. Define a participant profile, Sales, for each ste
• I. Define an auto-forwarding rule which returns either “Group A~company~Sales” or “Group B~company~Sales”.

Answer: A

NEW QUESTION 20
You are the Human Resources lead for the ERP Implementation of ABC Corporation. You have defined the employees in Oracle Human Resources. Select three activities that utilize the employee record. (Choose three.)

• A. Approvals
• B. Asset assignment
• C. Organization creation
• D. Journal Entry creation
• E. AutoCreate Purchase Orders

Answer: ABE

NEW QUESTION 21
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