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2021 Jun 1Z0-516 free practice questions
Q151. Identify three correct statements for defining a Value Set. (Choose three.)
A. Specify format validations.
B. Specify Value Set attributes for a new Value Set.
C. Always specify a minimum value in format validation.
D. Use predefined Value Sets if they serve your purpose.
E. The format validation need not be specified for a Dependent Value Set.
Q152. Your client has sales tax requirements that involve two types of sales tax. The first sales tax applies to all customers. The second sales tax is based on where the company ships the goods. All goods are taxable; however some customers who resell the goods are exempted from the second sales tax. Choose three applicable options to set up sales tax for your client. (Choose three.)
A. Tax classification code for exempt tax
B. Item exemptions for both sales taxes
C. Customer exemptions for the first sales tax
D. Customer tax exemptions for the second sales tax
E. Tax group for the combination of the two tax classification codes
Q153. Identify the two invoice types processed by the Payables Open Interface process. (Choose two.)
C. debit memos
D. credit memos
Q154. 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.
Q155. Identify four discount basis options available that define how Receivables calculates discounts.
A. Gross amount
B. Freight amount
C. Invoice amount
D. Lines only amount
E. Lines and tax amount
F. Lines, freight, and tax amount
Regenerate 1Z0-516 question:
Q156. Select three levels where additional reporting currency representations can be maintained. (Choose three.)
Q157. An activity in a workflow process can be a _____.
A. Notification or a subprocess, but not a PL/SQL function
B. Subprocess or a PL/SQL function, but not a notification
C. PL/SQL function or a notification, but not a subprocess
D. PL/SQL function, a notification, a subprocess, or a business event
E. PL/SQL function, a subprocess, or a business event, but not a notification
Q158. 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
Q159. ABC.com's global chart of accounts structure includes the Company (balancing) segment and Intercompany segment (with Intercompany segment qualifier) in order to properly identify the intercompany trading party. Which statement is NOT true about using an Intercompany segment in the chart of accounts structure? (Choose the statement that is NOT true.)
A. The Company and Intercompany segments can share the same value set.
B. GL automatically populates the intercompany segment value in the Balancing segment to balance an intercompany journal.
C. You can enable security for the Company segment and disable security for Intercompany segment.
D. If a journal entry is balanced within the same company value in the balancing segment, GL automatically uses the value in the Intercompany segment to create additional journal lines for the trading company.
E. In a many-to-many intercompany journal, the use of a clearing company as the trading partner is possible.
Q160. Identify three features of a Value Set. (Choose three.)
A. Value Sets are mandatory.
B. Value Sets must contain a list of values.
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.
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