All About 1Z0-516 sample question Nov 2016

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2016 Nov 1Z0-516 Study Guide Questions:

Q351. 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

Q352. Your client has requested that you set up a relationship type that would allow any party within the relationship to pay for the accounts of any other party. Identify the relationship group that you would assign your relationship type to, in order to accomplish this. 

A. Pay all 

B. Pay within 

C. Pay below 

D. Pay parties 

Answer: B

Q353. Identify three steps to be performed after defining a flexfield structure, but before entering values. (Choose three.) 

A. Select the "Freeze Flexfield Definition" check box. 

B. Click the Compile button to build the flexfield structure. 

C. Save your changes before freezing the flexfield definition. 

D. Submit a concurrent request to build the flexfield structure. 

E. Do not save your changes before freezing the flexfield definition. 

Answer: ABC

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Q354. Identify four steps involved in the setup for late charges. (Choose four.) 

A. Assigning different policies to your customers 

B. Indicating by transaction type if a late charge policy is enforced 

C. Enabling late charges in the Receivables System Options form 

D. Enabling late charges in the System Profiles form at the user level 

E. Deriving accounting from transaction type when late charges are in adjustment format 

F. Indicating if a specific invoice should be exempt from late charges at the transaction level 

Answer: ABCF

Q355. Select three true statements about Business Event System in Oracle Workflow. (Choose three.) 

A. Resides in Oracle Database 

B. Resides in Oracle Application Server 

C. Can be used with Workflow Engine to integrate external systems 

D. Consists of Event Manager, which lets you register workflow processes 

E. Uses Advanced Queuing to send messages from one system to another 

Answer: ACE

Q356. Jane is the financial controller of ABC Corporation. ABC Corporation has three legal entities: ABC East, ABC West, and ABC South. She was advised by the Oracle General Ledger consultant that there is no need for any balancing segment values to be assigned to the legal entities or ledgers. She is worried as to which values will be available for transactions and journal entries. Identify the right option in the given scenario. 

A. All balancing segment values will be available to enter transactions and journal entries. 

B. No balancing segment values will be available to enter transactions and journal entries. 

C. ABC East and ABC West balancing segment values will be available to enter transactions and journal entries. 

D. ABC East and ABC South balancing segment values will be available to enter transactions and journal entries. 

E. ABC South and ABC West balancing segment values will be available to enter transactions and journal entries. 

Answer: A

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Q357. Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.) 

A. Define accounts for realized gains and realized losses. 

B. Define accounts for unrealized gains and unrealized losses. 

C. Define the weights for each currency used for doing transactions. 

D. Define a batch under which the revaluation journals would be stored. 

E. Define a revaluation rate for each currency for each period or date for which the revaluation must be run. 

Answer: BE

Q358. Identify three statements that are true for the automatic withholding tax process. (Choose three.) 

A. Withholding tax type distributions are negative amounts. 

B. The Withholding tax group can be assigned only to an invoice distribution. 

C. Using automatic withholding tax, Payables creates the correct withholding tax distributions. 

D. Withholding tax distributions are automatically created during invoice validation or during payment processing. 

E. If an invoice with an associated withholding tax invoice is canceled, Payables automatically creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice. 

Answer: CDE

Q359. Your client wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its 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's requirements? 

A. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts. 

B. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the Rollup Groups. 

C. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts. 

D. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values. 

E. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the parent cost center values. 

Answer: C

Q360. Which is the final step in processing a payment batch? 

A. Cancel the payment batch. 

B. Confirm the payment batch. 

C. Validate the payment batch. 

D. Run the create accounting process. 

E. Transfer the batch to General Ledger. 

Answer: B

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