1Z1-517 Exam Training Practice Tests (Oracle EBS R12.1 Payables Essentials)]

Question 1

ABC Corporation has closed their APR-XX accounting period. The APR-XX period started on 27-MAR-20XX and ended 26-APR-20XX. They have run the Posted Invoice Register, the Posted Payments Register, and two Accounts Payable Trial Balance Reports (as of 30-MAR-20XX and 30-APR-20XX), but they do not balance. Which two actions must be performed? (Choose two.)

A. Ensure that there are no unaccounted transactions in APR-XX by using the Unaccounted Transactions Report. B. Ensure that invoice and payment journals are posted in General Ledger. C. Check the dates on their Accounts Payable Trial Balance Reports. D. Ensure that all invoices for the period are paid.

Correct Answer: B,C

Question 2

Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night.
A descriptive flexfield called "SAI Value" has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a corresponding user-defined hold called "SAI Hold", which is manually applied whenever an invoice is created and the "SAI Value" has not been provided to Company Z by the supplier.
During weekly reviews of accounting, users have found that invoice transactions that are on "SAI Hold" are displayed in Project Accounting but not in General Ledger. Select what is causing this issue.

A. Invoices have not been validated. B. Accounting is not being created by the user-defined hold. C. The descriptive flexfield field must be a required field, and not an optional field. D. The current General Ledger period is closed. E. The Payables Accounting process has not been run. F. The current Project Accounting period is closed.

Correct Answer: B

Question 3

ABC Corporation has set up the Accounting Key Flexfield. It has also set up a Descriptive Flexfield to store vehicle information associated with the asset category "Vehicle." Identify three correct statements. (Choose three.)

A. The combination of values in the Accounting Flexfield identifies a particular business entity or class of entities. B. You can define cross-validation rules to control the allowable combinations of segment values for the Accounting Flexfield. C. The Descriptive Flexfield for the asset category "Vehicle" appears as a normal field on a form. D. The Descriptive Flexfield is called an "intelligent key structure." E. The Descriptive Flexfield for the asset category "Vehicle" captures only additional information.

Correct Answer: A,B,E

Question 4

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. Click to Order D. Forecast to Plan E. Order to Cash

Correct Answer: A,D

Question 5

Shared entities are used throughout Oracle E-Business Suite Release 12. Identify the four entities that are shared. (Choose four.)

A. Unit of Measure B. Sales Force C. Ledger D. Oracle Application Object Library (AOL) E. Invoice Sources

Correct Answer: A,B,C,D

Question 6

The Payments Manager in Oracle Payables is a module that comprises five components, and is used to create multiple payments.
Identify the one component that is NOT found in the Payments Manager.

A. refunds B. templates C. payments D. payment instructions E. payments dashboard (home) F. payment process requests

Correct Answer: A

Question 7

John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee (INR) only. Sam, the company accountant, is worried that he would not be able to execute transactions involving USD and INR currencies. What does John say to help Sam?

A. Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency. B. Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD. C. Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules. D. Currency Rates Manager automatically converts all transactions entered in INR to USD. E. Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.

Correct Answer: C

Question 8

Identify three true statements regarding Multiple Organization reporting. (Choose three.)

A. Cross Organization reports produce outputs across different Operating Units in a single report from a single responsibility. B. Multiple Organization reports can be submitted for a Reporting Level of Ledger. C. Multiple Organization reports produce outputs for different Operating Units in a single report output from a single responsibility. D. Cross Organization reports can be submitted for a Reporting Level of Ledger. E. Multiple Organization reports produce outputs for different Operating Units one at a time from a single responsibility. F. Cross Organization reports and multiple Organization reports are the same.

Correct Answer: A,D,E

Question 9

XYZ Corp. has operations in the U.S. and Canad
a. Within Canada, it has two separate Divisions due to Statutory requirements: one in Quebec and another in Ontario.
How would you define the organization structure for XYZ Corp. from the information given above?

A. two Ledgers, two Legal Entities, and three Operating Units B. three Ledgers, three Legal Entities, and three Operating Units C. two Ledgers, three Legal Entities, and two Operating Units D. two Ledgers, two Legal Entities, and two Operating Units E. two Ledgers, three Legal Entities, and three Operating Units

Correct Answer: E

Question 10

ABC Inc. added a new Operating Unit to its existing Multi-Org Access-enabled responsibility. When users logged in using their existing responsibility, they could not see the new Operating Unit in the list of values.
What could be the cause?

A. Security List Maintenance was not run. B. The Set Multi-Org Preferences profile was not defined. C. The Set MO: Operating Unit profile was not defined. D. The Set MO: Security profile was not defined for the responsibility. E. The Set MO: Default Operating Unit profile was not defined.

Correct Answer: A

Oracle EBS R12.1 Payables Essentials - 1Z1-517 Exam Practice Test