Oracle 1Z0-516 Exam Questions - Real Practice Questions for Guaranteed Success

Question 1

You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes.

They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements.

Choose two statements that are true in the given scenario. (Choose two.)

AThe secondary ledger contains day-to-day transactions.

BThe primary ledger must contain only management adjustments.

CThe secondary ledger represents the complete management picture.

DAssign an adjustment-only ledger to the existing accounting setup for the US legal entities.

EUse ledger sets to combine primary and secondary ledgers to get the complete management picture.

Correct : D, E

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AThe secondary ledger contains day-to-day transactions.

BThe primary ledger must contain only management adjustments.

CThe secondary ledger represents the complete management picture.

DAssign an adjustment-only ledger to the existing accounting setup for the US legal entities.

EUse ledger sets to combine primary and secondary ledgers to get the complete management picture.

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Question 2

Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the parent segment values while defining the MassAllocation formul

a. What would be your response?

AWhether you can do this depends on the formula.

BYou can customize the workflow and then do this.

CWhether you can do this depends on the responsibility.

DYou can do this only if Allow Dynamic Insert is enabled.

EYou can do this only if there is a summary account associated with the parent.

Correct : E

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AWhether you can do this depends on the formula.

BYou can customize the workflow and then do this.

CWhether you can do this depends on the responsibility.

DYou can do this only if Allow Dynamic Insert is enabled.

EYou can do this only if there is a summary account associated with the parent.

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Question 3

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 __________.

Afirst day of the next period

Bnext day in the same period

Cnext business day in the same period

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

Correct : D

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Afirst day of the next period

Bnext day in the same period

Cnext business day in the same period

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

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Question 4

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?

AIt is not possible to have more than one current budget.

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

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

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

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

Correct : A

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AIt is not possible to have more than one current budget.

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

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

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

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

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Question 5

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

ACross Organization reports and multiple Organization reports are the same.

BCross Organization reports can be submitted for a Reporting Level of Ledger.

CMultiple Organization reports can be submitted for a Reporting Level of Ledger.

DMultiple Organization reports produce outputs for different Operating Units one at a time from a single responsibility.

ECross Organization reports produce outputs across different Operating Units in a single report from a single responsibility.

FMultiple Organization reports produce outputs for different Operating Units in a single report output from a single responsibility.

Correct : B, D, E

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ACross Organization reports and multiple Organization reports are the same.

BCross Organization reports can be submitted for a Reporting Level of Ledger.

CMultiple Organization reports can be submitted for a Reporting Level of Ledger.

DMultiple Organization reports produce outputs for different Operating Units one at a time from a single responsibility.

ECross Organization reports produce outputs across different Operating Units in a single report from a single responsibility.

FMultiple Organization reports produce outputs for different Operating Units in a single report output from a single responsibility.

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Master Oracle 1Z0-516 Exam with Reliable Practice Questions

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