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Free Oracle E-Business Suite R12.1 General Ledger Essentials 1Z0-516 Exam Questions

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Question 1

Identify three features of a Value Set. (Choose three.)

Correct Answer: C. Value Sets control the values for many report parameters.; D. The same Value Set can be shared between different FlexFields.; E. A Value Set is a definition of the values approved for entry by a particular Flexfield Segment.

Question 2

The management segment qualifier must be attached to which key flexfield segment?

Correct Answer: D. department segment

Question 3

Select the three options available when creating the Security profile for Multi-Org Access Control. (Choose three.)

Correct Answer: A. View all Organizations; D. Secure by Operating Unit and Inventory Organization; E. Secure Organizations by Organization list and/or hierarchy

Question 4

Select two statements that are correct for the secondary tracking segment. (Choose two.)

Correct Answer: C. Any segment, except the natural account segment or the balancing segment, can be specified as the secondary tracking segment.; D. This segment will be paired with the balancing segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account.

Question 5

ABC Company in India imports baking equipment from XYZ Company in the US

Correct Answer: A, A, D

Question 6

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.)

Correct Answer: A. Approvals; B. Asset assignment; E. AutoCreate Purchase Orders

Question 7

Which two statements are true about Formulas? (Choose two.)

Correct Answer: C. Formulas cannot be run in sequence to perform multi-step calculations; D. Formulas can set both transaction- and line-level attributes

Question 8

Along with Part Number, Quantity, and Price, you also want to send additional recommended item details from Configuration to Commerce by using a Recommended Item rule. Which two options enable you to achieve this? (Choose two.)

Correct Answer: A. Use the Comment field to pass additional details; E. Use BOM Mapping rules

Question 9

Identify four consolidation tools. (Choose four.)

Correct Answer: A. Interface Data Transformer; B. Global Consolidation System; D. Financial Statement Generator; E. Applications Desktop Integrator

Question 10

When doing a part search from home page, you have the Create Quote button to create a new Transaction.

How do you change the label of this button?

Correct Answer: D. Open the Commerce Process admin page, navigate to Process Actions, and change the label of the ''_action_new_transaction'' action

Question 11

You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation.

Identify two setups required for journal approval. (Choose two.)

Correct Answer: C. Enable the Journal: Allow Preparer Approval profile option.; D. Configure the GL journal approval process in Oracle Workflow Builder.

Question 12

Isa Global Inc. is based in the United States with divisions in Europe and Asi

a. 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?

Correct Answer: C. revaluing foreign currency balances

Question 13

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

Verify that all journals are posted.

Close the period of each subledger.

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

Close the period and open the next period.

Perform reconciliation of subsidiary ledgers.

Transfer and import data from all subledgers.

Correct Answer: D. 6, 5, 2, 1, 3, 4

Question 14

Jane, the GL accountant, asks you whether she could delete the budget after it has been defined. She also wants to know whether she could delete the budget organization after it has been defined. What would be your response?

Correct Answer: C. You cannot delete a budget after it has been defined. However, you can delete a budget organization.

Question 15

The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a closed period.

You check the setup and confirm that the GL period in which he was able to post the budget journal was closed. What explanation do you give?

Correct Answer: A. The budget year is open.