1Z0-517 Online Practice Questions and Answers

Select three levels where additional reporting currency representations can be maintained. (Choose three.)

A. batch

B. journal

C. balance

D. subledger

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. Currency Rates Manager automatically converts all transactions entered in INR to USD.

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. Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.

E. Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency.

ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart of accounts, accounting calendar, accounting method, and ledger-processing options. UK management requires reporting on receivables from its US operations in GBP each month. Identify the best option for the US operations to report to their parent.

A. Create an account-level reporting currency.

B. Create a subledger-level reporting currency.

C. Create a journal-level reporting currency for every transaction.

D. Create a balance-level reporting currency and run general ledger translation.

A reversing journal entry can be posted into _____.

A. a current or any future open period

B. a past closed period and a current open period

C. a current open period and a never-opened period

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. first day of the next period

B. next day in the same period

C. next business day in the same period

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

Oracle Payments is the central payment engine for Oracle E-Business Suite Release 12. Identify three modules that integrate with Oracle Payments. (Choose three.)

A. Assets

B. Payables

C. Receivables

D. Cash Management

E. Order Management

Identify the report that is used to reconcile the Accounts Payable liability balance at period end.

A. Accrual Write-Off Report

B. Uninvoiced Receipts Report

C. Accounts Payable Trial Balance

D. Payables Posted Invoice Register

E. Payables Posted Payment Register

F. Matched and Modified Receipts Report

Idenify three processes that you must run before closing your Payables period. (Choose three.)

A. Expense Report Export

B. The Create Accounting program

C. Payabales Open Interface Import

D. Period Close Exceptions Report

E. The Transfer Journal Entries to GL program

To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. Select three setup options for manual tax lines. (Choose three.)

A. Regime

B. Event Class

C. Regime, Tax

D. Configuration Owner

E. Tax ?Controls and Defaults

F. Regime, Tax, Tax Jurisdiction

In the accrual process for perpetual accruals, which two events generate accounting entries that can be transferred to GL? (Choose two.)

A. processing a receipt

B. entering a purchase order

C. running the period-end accrual program

D. entering invoices and matching them in Payables