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Exam Code: 1Z0-516 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle EBS R12.1 General Ledger Essentials
Certification Provider: Oracle
Free Today! Guaranteed Training- Pass 1Z0-516 Exam.

2016 May 1Z0-516 Study Guide Questions:

Q241. Identify two advantages of using Oracle Internet Expenses. (Choose two.) 

A. It improves cycle times by routing expense reports via a workflow. 

B. Expense reports that are entered using Internet Expenses are visible in Payables. 

C. Enforcement of spending policy controls expenses, showing any policy deviations. 

D. Expense report template attributes are defined in Internet Expenses to manage expense types. 

Answer: AC

Q242. When you enter a journal, the journals in that batch _____. 

A. should share the same period 

B. should share both the same period and currency 

C. should share the same accounting date 

D. can have different periods, currencies, and accounting dates 

E. should share the same currency 

Answer: A

Q243. Identify the sequence of the steps that are required for performing the accounting setup from this list. 

1. Define accounting options. 

2. Define primary ledger. 

3. Define legal entities. 

4. Assign legal entities to accounting setup. 

5. Complete accounting setup. 

6. Define secondary ledgers. 

A. 1, 2, 3, 4, 5, 6 

B. 3, 4, 2, 6, 1, 5 

C. 3, 4, 2, 6, 5, 1 

D. 1, 3, 2, 4, 5, 6 

Answer: B


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Q244. 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

Q245. Identify three features of Oracle Workflow Builder in Oracle Workflow Architecture. (Choose three.) 

A. Monitors workflows 

B. Resides in Oracle Application Server 

C. Defines and customizes workflow definitions 

D. Saves workflow process definition in a flat-file format 

E. Saves workflow process definition in a graphical file format 

F. Has Navigator tree and Process diagram as its components 

Answer: CDF

Q246. 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


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Q247. ABC.com has a requirement that all budget entries are made through journals. Where would you set this up? 

A. Journal Sources 

B. Set of Books 

C. Journal Categories 

D. Journal Types 

E. Budget Organizations 

Answer: B

Q248. Which two are true statements regarding elimination? (Choose two.) 

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

B. You can define balancing options for eliminating entries. 

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

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

Answer: AD

Q249. Select two ways in which you can complete an invoice. (Choose two.) 

A. Use the Complete button in the Transactions window. 

B. Run the concurrent program Complete Transactions. 

C. Select the complete check box in the Transactions window. 

D. Use the Complete button in the Transactions Summary window. 

E. Select the complete check box in the Transactions Summary window. 

F. Ask the technical developer to run a custom PL/SQL program to update all tables. 

Answer: AD

Q250. A global company uses Oracle E-Business Suite Release 12 for its operations in the U.S. and Canada. The company is now adding Mexico to the Oracle E-Business Suite Release 12 Applications. As a system administrator, you need to set the MO: Operating Unit profile option for Mexico. Customer is not using Multi-Org Access Control. You set the MO: Operating Unit profile option at the _____ level. 

A. Site 

B. User 

C. Application 

D. Responsibility 

Answer: D

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