Oracle EBS R12.1 General Ledger Essentials - 1Z1-516 Exam Practice Test

Question 1

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

A. require autonomous document sequencing for a legal entity

B. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

C. have similar ledger processing options

D. open and close periods simultaneously

E. have tax requirements that are specific for a legal entity

Correct Answer: B,C,D

Question 2

A user has been assigned with five Operating Units in his or her security profile. The user transacts in three of those Operating Units, the remaining two are used occasionally.
The user can limit the list of values available to the three Operating Units by _______.

A. requesting the system administrator, to update the Operating Units in the security profile

B. setting the preferred Operating Units in user preferences

C. setting the values for the MO: Default Operating Units at the user level profile option

D. requesting the system administrator to set up MO: Default Operating Unit for the responsibility

E. setting the values for the MO: Operating Unit at the user level profile option

Correct Answer: B

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. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.

B. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.

C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.

D. Whether you can have multiple current budgets depends on the budget organization.

E. It is not possible to have more than one current budget.

Correct Answer: E

Question 4

What are the five steps for creating MassAllocation journal entries? (Choose five.)

A. posting journal entries

B. generating MassAllocation journals

C. validating the MassAllocation definition

D. creating the MassAllocation definition

E. validating cross-validation rules

F. reviewing journal entries

G. freezing the accounting flexfield

Correct Answer: A,B,C,D,F

Question 5

Your users receive a notification for a transaction from CPQ when an approval has been retracted and is no longer needed.
The notification contains a generic message about this action. However, users would like to get more details about the transaction.
What is the Oracle-recommended best practice to fulfill this requirement in CPQ?

A. Trigger an email action to notify users by custom defining the email's subject and body, which contain the transaction details, by using the advanced function available in the Revise action.

B. When a transaction needs to be revised, allow the transaction owner to send a parallel email to approvers, which should include the necessary transaction details.

C. Switch the system-generated email-to-email template, which will include the desired transaction information when approvers are notified.

Correct Answer: A

Question 6

ABC Inc.'s calendar is the fiscal year. They also use Average Balance Processing.
ABC's accrual category is defined with AutoReversal, with the reversal period as the next day, and an effective date rule of roll.
An accrual journal entered on 29-Apr-05 will be reversed on the __________.

A. next day in the same period

B. next business day in the same period or the next period, based on the transaction calendar

C. next business day in the same period

D. first day of the next period

Correct Answer: B

Question 7

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.)

A. This is not feasible. Only Part Number, Quantity, and Price can be passed from Config to Commerce by using Recommended Item rules

B. Concatenate the additional details to Part Number

C. Pass the additional details by storing them in a Price Book

D. Use BOM Mapping rules

E. Use the Comment field to pass additional details

Correct Answer: D,E

Question 8

Identify two features of Oracle Workflow in Oracle E-Business Suite Release 12. (Choose two.)

A. can integrate business functions only between business processes within a single company

B. enhances data security

C. helps you focus on managing individual business transactions

D. can integrate business processes within an enterprise, as well as between different organizations and different systems

E. has each activity in a workflow as a PL/SQL function or a notification or a subprocess

Correct Answer: D,E

Question 9

You are the manufacturing lead for XYZ's implementation of Oracle E-Business Suite Release 12.
Your client has these requirements:
Create a production plan.
Analyze Sales Order information.
Calculate capacity load ratio by resource or production line.
Analyze resources, materials, costs, and job schedule progress.
Identify the two flows you would implement to accomplish these requirements. (Choose two.)

A. Demand to Build

B. Procure to Pay

C. Order to Cash

D. Forecast to Plan

E. Click to Order

Correct Answer: A,D

Question 10

What is the effect of summary accounts on the efficiency of the posting process?

A. Use of summary accounts decreases the efficiency of the posting process.

B. Use of summary accounts increases the efficiency of the posting process.

C. Use summary accounts in the posting process to not accumulate values.

D. Use summary accounts in the posting process to accumulate values.

Correct Answer: A

Question 11

Given the following code:

Which statement will return the value for results as 25.0 when it is put in place of the blank line shown above the "}else{" statement?

A. results = stringtofloat (var);

B. results = stringtointeger (var);

C. results = atoi (var);

D. results = atof (var);

Correct Answer: B

Question 12

Identify two features of an "Independent" value set. (Choose two.)

A. The values are stored in a product applications table.

B. There is a predefined list of values for a segment.

C. The values are stored in an Oracle Application Object Library table.

D. You can enter a value other than those in the predefined list of values.

Correct Answer: B,C

Question 13

A table has 15 Attribute columns to capture additional information. The attributes 1-12 are set up in the Descriptive Flexfield as Global Segments. How many attributes can be set up under any new context?

A. 1

B. 12

C. 3

D. 11

E. 15

Correct Answer: C

Question 14

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

A. Value Sets are mandatory.

B. The same Value Set can be shared between different FlexFields.

C. A Value Set is a definition of the values approved for entry by a particular Flexfield Segment.

D. Value Sets control the values for many report parameters.

E. Value Sets must contain a list of values.

Correct Answer: B,C,D

Oracle EBS R12.1 General Ledger Essentials - 1Z1-516 Exam Practice Test

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