[Free] 2018(Jan) EnsurePass Testinsides Oracle 1z0-516 Dumps with VCE and PDF 11-20

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Oracle EBS R12.1 General Ledger Essentials

Question No: 11 – (Topic 1)

ABC.com wants to define a consolidation process for its enterprise.

It has two sets of books: set of books A and Set of Books B. Both sets of books will be defined in Oracle General Ledger.

Set of books A will have three companies with the same chart of accounts as set of books B.

Set of books A will have USD as its currency.

Set of books B will have four companies with the same chart of accounts and different calendar as set of books A.

Set of books B will have GPD as its currency.

Which consolidation method would you recommend?

  1. Interface Data Transformer

  2. Global Consolidation System

  3. Financial Statement Generator

  4. Global Intercompany System

  5. Applications Desktop Integrator

Answer: B

Question No: 12 – (Topic 1)

Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.)

  1. Account Analysis

  2. Trial Balance – Detail

  3. Currency – Daily Conversion Rates Listing

  4. Chart of Accounts – Segment Values Listing

  5. Other – Calendar Validation Report

Answer: A,B

Question No: 13 – (Topic 1)

One of your co-workers, ABC.com, is working to define and develop Financial Statement Generator reports where the budget amounts and actual amounts would display on the report per period. Tess comes to you and says that he has defined an FSG report according to the client#39;s requirements; the actual amounts are correctly shown, but the problem is that budget amounts are not showing up on the report. What is your response?

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

  2. The budget name needs to be associated with the row set through control values.

  3. Budget status is Frozen.

  4. There is some issue with the assignment of accounts to the budget organization.

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

Answer: B

Question No: 14 – (Topic 1)

ABC.com, a Canadian subsidiary of a U.S. company, wants to have an adjusting period in addition to its 12 calendar month accounting periods. Its fiscal year end is March 31. It will use foreign currency translations for its financial reports to the U.S. parent company, beginning April 2006. The company wants to use accounting period names that show the calendar year, not fiscal year. It plans to go live beginning April 1, 2006 with conversion of 1 year historical GL balances (fiscal year ending March 31, 2006). Choose the most appropriate accounting calendar setup.

  1. Period Type: Calendar. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-06 and Adj-07.

  2. Period Type: Calendar. Accounting periods named: Apr-05 through Mar-07, with one adjusting period named Adj-06.

  3. Period Type: Fiscal. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-06 and Adj-07

  4. Period Type: Fiscal. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-05 and Adj-06.

  5. Period Type: Fiscal. Accounting periods named: Apr-05 through Mar-07, with one adjusting period named Adj-06.

Answer: A

Question No: 15 – (Topic 1)

Which three are true about the Global Consolidation System? (Choose three.)

  1. consolidates data from legacy feeder system

  2. consolidation process creates consolidated journal entries in both parent and subsidiary sets of books

  3. performs multidimensional analysis of consolidated financial data using Oracle Financial Analyzer

  4. automatically generates journal entries to eliminate intercompany balances based on defined rules

Answer: A,C,D

Question No: 16 – (Topic 1)

Select the two minimum set up steps for intercompany accounting. (Choose two.)

  1. Enable Balance Intercompany Journal when defining the set of books.

  2. Define a clearing company for all many-to-many intercompany journals.

  3. Set up intercompany accounts for journal source and journal category of Other.

  4. Define a journal source and a journal category for Intercompany.

  5. Include an Intercompany segment in the chart of accounts structure.

  6. Set up intercompany accounts for every journal source and journal category for intercompany transactions.

  7. Define a value set for the Company and Intercompany segments.

  8. Enable the Intercompany Qualifier for the Intercompany segment.

Answer: A,C

Question No: 17 – (Topic 1)

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?

  1. 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.

  2. 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.

  3. 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

Question No: 18 – (Topic 1)

ABC.com has many Financial Statement Generator reports created to produce Profit amp; Loss statements and Balance Sheet reports. Occasionally ABC.com has a need to run a

report that is slightly different than the standard ones that are already created. Which two types of changes could XYZ make using the Row Order feature? (Choose two.)

  1. display segment values and descriptions

  2. add a new calculation

  3. change how rounding options are performed

  4. sort based on column values

Answer: A,D

Question No: 19 – (Topic 1)

ABC.com has offices around the world, spread across different legal entities. ABC.com is implementing Oracle General Ledger. Its accounting department wants to know how to reduce the burden of elimination entries. What do you recommend?

  1. Summary Journals

  2. ADI Journals

  3. Intercompany Journals

  4. Recurring Journals

  5. Mass Allocation

Answer: D

Question No: 20 – (Topic 1)

You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the

U.S. but has a presence in many countries worldwide, and has transactions in multiple currencies.

The implementation team decides that GL multi currency setup will be part of the implementation.

ABC.com#39;s management in the U.S. wants to see all the transactions in U.S. dollars, whereas the management in Europe wants to see the transactions in euros.

The CFO has stated this requirement:

While entering the daily transactions the user should have the ability to enter the current exchange rate, but at month end the assets and liabilities in euros could be converted into

U.S. dollars at the monthly average exchange rate. Can this requirement be satisfied?

  1. Account generator needs to be customized to satisfy this requirement.

  2. Oracle GL does not support this functionality.

  3. Workflow needs to be customized to satisfy this requirement.

  4. Oracle GL provides this functionality and there is no problem in satisfying the requirement.

Answer: D

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