Tips to Pass 1Z0-516 Exam (101 to 110)

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2016 Jul 1Z0-516 exam engine

Q101. Select three statements that apply to Interface Data Transformer (IDT). (Choose three.) 

A. It ensures reapplication of the same rules each time you transfer. 

B. IDT provides greater flexibility by performing no validation on the imported data. 

C. User-defined conditions enable you to control when transformation rules must be applied. 

D. IDT provides automatic data conversion that converts disparate data formats into an Oracle format. 

E. It makes exporting of data from Oracle General Ledger into external feeder systems much easier and less time consuming. 

Answer: ACD


Q102. ABC.com, the GL accountant comes to you and says that she has defined two budgets, but after selecting the budget organization in the Enter Budget Amounts form, she can select only one budget from the list of values (LOV). What is your response? 

A. Budget status is Current. 

B. The first fiscal year of the budget was never opened. 

C. The last fiscal year of the budget is Closed. 

D. Accounts need to be reassigned to the budget organization. 

Answer: B


Q103. Identify four consolidation tools. (Choose four.) 

A. Interface Data Transformer 

B. Global Consolidation System 

C. Global Intercompany System 

D. Financial Statement Generator 

E. Applications Desktop Integrator 

Answer: ABDE


Q104. Identify three setups in Oracle Receivables that control how discounts are calculated. (Choose three.) 

A. Profile options 

B. Payment terms 

C. System options 

D. Receipt classes 

E. Customer profiles 

Answer: BCE


Q105. During a period, several preapproved batches of miscellaneous transactions were entered and released. The project manager informs you that he is unable to view the accounting in the expenditure inquiry form. Which process was likely omitted? 

A. streamline costs 

B. distribute costs 

C. interface costs 

D. tieback costs 

Answer: B


1Z0-516 exam engine

Renewal 1Z0-516 exam topics:

Q106. For each subledger there should be one _____. 

A. Journal Type 

B. Journal Source 

C. Journal Category 

D. Account Type 

Answer: B


Q107. ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution 

report is automatically created. Identify three components on which the Create Journal Entries Execution report reports. (Choose three.) 

A. Budget Journals 

B. Posted Journals report 

C. Payables encumbrance entries 

D. Purchasing encumbrance entries 

Answer: ACD


Q108. Which three functions can the Payables Accounting Process perform? (Choose three.) 

A. transfers data to the interface table 

B. runs the journal import 

C. validates distribution lines 

D. creates accrual entries 

E. creates accounting entries 

Answer: ABE


Q109. ABC.com, the GL accountant, says that he has heard about the budget upload functionality of Oracle GL and he is eager to test it. She is unable to test it in the CRP instance. What is your explanation? 

A. The budget can be uploaded. 

B. The budget dates in the budget organization have a different date range. 

C. The GL account code combination is not valid. 

D. Budget journals are required at the set of books level 

E. The GL period is closed. 

Answer: D


Q110. US.-based ABC.com wants to consolidate the U.K. subsidiary accounting and the China subsidiary accounting into the U.S. parent accounting information. Both foreign subsidiaries and the U.S. parent have different currencies and different calendars. Which correctly describes the steps required before transferring balances to the U.S. parent? 

A. Run the revaluation process, post the revaluation journal, translate foreign currency, run the Trial Balance Report in the translated currency in the subsidiary set of books, review the Trial Balance to ensure accuracy. 

B. Translate the foreign currency, post the translated journal entry, revalue the balance sheet accounts, run the Trial Balance Report in the translated currency in the subsidiary set of books, review the Trial Balance to ensure accuracy. 

C. Run the revaluation process, post the revaluation journal, translate the foreign currency, post the translated journal entry, run the Trial Balance Report in the translated currency in the subsidiary set of books. Review the Trial Balance to ensure accuracy. 

Answer: A



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