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2016 Oct 1Z0-517 Study Guide Questions:

Q131. When reconciling Payables and Cash Management, you may encounter clearing restrictions. Here are three clearing restrictions for Cash Management.

1. Oracle Cash Management cannot clear bills payable that have a status of _____.

2. Oracle Cash Management clears bills payable only if the payment status is _____.

3. On or after the maturity date of the payment, you can update the status to _____.

Identify the one status for the second clearing restriction.

A. issued

B. negotiable

C. reconciled

Answer: B

Q132. Identify what three considerations must be executed before creating a report by using the financial statement generator. (Choose three.)

A. Download Web ADI.

B. Create the database link.

C. Determine the data to be reported.

D. Define attributes for rows and columns.

E. Decide which rows and columns will make up the report.

Answer: CDE

Q133. Which two are true about elimination? (Choose two.)

A. You can define balancing options for eliminating entries.

B. You can define an elimination set to contain one elimination entry.

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

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

Answer: AB

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Q134. Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the parent segment values while defining the MassAllocation formula. What would be your response?

A. Whether you can do this depends on the formula.

B. You can customize the workflow and then do this.

C. Whether you can do this depends on the responsibility.

D. You can do this only if Allow Dynamic Insert is enabled.

E. You can do this only if there is a summary account associated with the parent.

Answer: E

Q135. Select the correct sequence of tasks required for period closing in Oracle General Ledger.

1. Verify that all journals are posted.

2. Close the period of each subledger.

3. Run the Trial Balance report and other month-end reports.

4. Close the period and open the next period.

5. Perform reconciliation of subsidiary ledgers.

6. Transfer and import data from all subledgers.

A. 6, 5, 2, 1, 4, 3

B. 3, 2, 1, 6, 4, 5

C. 6, 5, 1, 3, 2, 4

D. 6, 5, 2, 1, 3, 4

E. 6, 2, 3, 1, 5, 4

Answer: D

Q136. You are on a phased-approach implementation. Payables and Purchasing are being implemented in Phase One, and Assets in Phase Two. Identify three choices in the process for the best way to discuss supplier naming conventions and supplier site naming conventions. (Choose three.)

A. Agree upon naming conventions.

B. Gather only the Payables and Purchasing personnel.

C. Document conventions and obtain the sign-off by authorized approvers later.

D. Document conventions and obtain the sign-off by authorized approvers immediately.

E. Gather all interested parties for requirements-including Assets, Payables and Purchasing.

Answer: ADE

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Q137. Identify three statements that are true about the withholding tax process. (Choose three.)

A. Tax is automatically calculated at any calculation level.

B. The withholding tax process is a part of Cash Management.

C. Payables automatically generates withholding tax invoices to pay tax authorities.

D. Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation.

E. If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.

Answer: CDE

Q138. Which three programs submit their own reports, without any user intervention? (Choose three.)

A. Invoice Matching

B. Invoice Cancellation

C. Payment Confirmation

D. Expense Report Import

E. Invoice Validation

Answer: CDE

Q139. 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

Q140. You have received an invoice that requires an immediate payment. The next scheduled check run is not until the end of the week. Which two methods may you use to create the payment? (Choose two.)

A. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a quick payment.

B. Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a manual payment.

C. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and create a quick payment.

D. Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and creates a manual payment.

Answer: AC

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