Free Oracle E-Business Suite R12.1 General Ledger Essentials 1Z0-516 Exam Practice Test

Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary.What is the next logical step in the period-close process?

• opening the next period
• closing the current period
• revaluing foreign currency balances
• translating to the functional currency
• consolidating to the parent set of books

During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he emails you a checklist of scenarios in which the batches cannot be deleted.Select three scenarios that would be on the checklist. (Choose three.)

• The source is frozen.
• The journal batch has not been posted.
• Funds have been reserved for the batch.
• The journal batch has not been approved.
• Funds are in the process of being reserved for the batch.

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

• have similar ledger processing options
• open and close periods simultaneously
• have tax requirements that are specific for a legal entity
• require autonomous document sequencing for a legal entity
• operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

You have the following information:The Accounting flexfield structure is “company, department, product, account.” Product has two rollup groups: domestic and international.Department has one rollup group: manufacturing.All accounting flexfield segment values can use alphanumeric characters. Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total)

• T-T-T-T
• T-D-D-D
• D-D-D-D
• D—T-domestic-D
• D-manufacturing-D-T
• T-manufacturing-international-D

When using Web Services 1.0, consider the following sequence of a client system calling CPQ Cloud WebServices.

• Call Security Login WebServices with User ID and Password.
• Create a Commerce updateTransaction WebServices call by using an existing transaction ID.
• Make the following updates in the web service XML:Set Session IDSet “_shipTo_first_name” to “myName”
• Submit the WebService call.
• Call Security Logout WebServices with the Session ID to close the session. Based on the given sequence, which two statements are true? (Choose two.)
• The call in step 4 will throw an error
• The Commerce transaction should be updated with the new Ship To name
• The session will still be open
• Step 3 does not specify an action to execute; therefore, nothing is updated in the transaction
• Step 5 is unnecessary. Session ID is not needed to log out

In which two locations are the keywords for mobile processing of quotes defined when setting up approvals? (Choose two.)

• Mobile Approval Email Notification
• Submit sub-action - Reject
• Submit sub-action - Approve
• Submit sub-action – Submit for Approval

Your customer wants to create a user that has complete access to the site and has the ability to add and edit new users.Which procedure should you follow to accomplish this?

• Click the Add button on the User Administration List page; enter values for the required fields (Login, Email, and First Name); set the Type field to FullAccess; click the Add button to add the user to the system; click the new user’s name on the User Administration List page to edit the user, select the Create/Modify Users check box; and click the Update button to save the changes.
• Click the Add button on the User Administration List page, set the Type field to Admin, click the Add button to add the user to the system, click the new user’s name on the User Administration List page to edit the user, select the Create/Modify Users check box, and click the Update button to save the changes.
• Click the Add button on the User Administration List page; enter values for the required fields (Login, Email, and First Name); set the Type field to FullAccess; select the Create/Modify Users check box, and click the Add button to add the user to the system.
• Click the Add button on the User Administration List page; enter values for the required fields (Login, Email, and First Name); click the Add button to add the user to the system; click the new user’s name on the User Administration List page to edit the user; select the Create/Modify Users check box; and click the Update button to save the changes.
• Click the Add button on the User Administration List page; enter values for the required fields (Login, Password, Email, First Name, Last Name, and Phone Number); set the Type field to Admin; click the Add button to add the user to the system; click the new user’s name on the User Administration List page to edit the user; select the Add New Users check box; and click the Add button to save the changes.

Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)

• Create aliases.
• Define a value set.
• Define security rules.
• Define an account structure.
• Define valid segment values.
• Create account combinations.

Select the correct sequence of tasks required for period closing in Oracle General Ledger. Verify that all journals are posted.Close the period of each subledger.Run the Trial Balance report and other month-end reports. Close the period and open the next period.Perform reconciliation of subsidiary ledgers. Transfer and import data from all subledgers.

• 6, 5, 2, 1, 4, 3
• 3, 2, 1, 6, 4, 5
• 6, 5, 1, 3, 2, 4
• 6, 5, 2, 1, 3, 4
• 6, 2, 3, 1, 5, 4

Identify two features of an “Independent” value set. (Choose two.)

• There is a predefined list of values for a segment.
• The values are stored in a product applications table.
• The values are stored in an Oracle Application Object Library table.
• You can enter a value other than those in the predefined list of values.