[Free] 2018(Jan) EnsurePass Pass4sure Oracle 1z0-516 Dumps with VCE and PDF 371-380

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Oracle EBS R12.1 General Ledger Essentials

Question No: 371 – (Topic 4)

To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must complete seven fields. Name three. (Choose three.)

  1. industry

  2. tax amount

  3. tax regime

  4. commodity

  5. supplier site

    Answer: B,C,E

    Question No: 372 – (Topic 4)

    You just received an invoice for a new supplier. You need to pay it and ensure that all accounting entries are created in General Ledger. You perform these steps, in the order shown:

    1. Enter the supplier.

    2. Enter the invoice.

    3. Create the pay run.

    4. Create payment accounting entries.

    5. Validate the invoice.

    6. Create invoice accounting entries.

    7. Transfer the information to General Ledger. What would be the result?

      1. The invoice is not paid and no entries are created in General Ledger.

      2. The invoice is paid and all accounting entries are created in General Ledger.

      3. The invoice is not paid but the invoice accounting entry is created in General Ledger.

      4. The invoice is paid but only the invoice accounting entry is created in General Ledger.

Answer: C

Question No: 373 – (Topic 4)

Identify three statements that are true about the withholding tax process. (Choose three.)

  1. Tax is automatically calculated at any calculation level.

  2. The withholding tax process is a part of Cash Management.

  3. Payables automatically generates withholding tax invoices to pay tax authorities.

  4. Payables calculates withholding taxes on invoices during the invoice validation process or during the payment calculation.

  5. If the withholding tax is calculated during the invoice validation process, the taxable amount withheld is the gross amount.

Answer: C,D,E

Question No: 374 – (Topic 4)

Where does the expense AP accrual account used in the Period End Accrual process default from?

  1. Financial Options

  2. Payables Options

  3. Receiving Options

  4. Purchasing Options

Answer: D

Question No: 375 – (Topic 4)

The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the miscellaneous receipt needs to be reversed. Which method would you advise the client to use?

  1. Carry out a standard reversal of the miscellaneous receipt.

  2. Carry out a debit memo reversal of the miscellaneous receipt.

  3. Create a receivable activity adjustment for the reversal of the miscellaneous receipt.

  4. Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.

  5. Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.

Answer: A

Question No: 376 – (Topic 4)

When you validate an invoice in Payables, E-Business Tax automatically performs four tasks. (Choose four.)

  1. creates distributions

  2. recalculates tax lines

  3. allocates tax amounts

  4. places tax-related holds on the invoice

  5. updates imported invoices into Payables

Answer: A,B,C,D

Question No: 377 – (Topic 4)

Which three are true about internal bank accounts? (Choose three.)

  1. They are defined to disburse funds to suppliers.

  2. They are defined for receiving payment from customers.

  3. They are defined to disburse electronic payments from your customers.

  4. They are defined for receiving electronic payments made to your suppliers.

  5. Internal accounts define bank accounts for which you are the account holder.

    Answer: A,B,E

    Question No: 378 – (Topic 4)

    Your client, Company A, has these requirements:

    1. Asset invoices are entered in the Payables daily, but assets are transferred to Oracle Assets only once per week.

    2. Payables journal entries have to be transferred to GL at least once per month for reporting purposes.

    3. Oracle Projects balances must be updated once every month.

    4. Payment batches must be processed daily.

      On the basis of the above requirements, what would be the minimum recommended frequency of running the Transfer to GL program?

      1. daily

      2. weekly

      3. monthly

      4. once every two weeks

Answer: B

Question No: 379 – (Topic 4)

Here is a description of a report, file, or register. Use this to review payments created for each bank account that you use during a time period you specify. The report lists each payment, as well as total payment amount and cleared amount of all payments. Identify the name of this standard report.

  1. Positive Pay File

  2. Payment Register

  3. Payment Exceptions Report

  4. Payment Process Request Status Report

    Answer: B

    Question No: 380 – (Topic 4)

    To review All of Todays selected invoices from the payment process request in the Payment Manager, perform these actions:

    1. Navigate to the Payment Process Request component.

    2. Navigate to the (B) Views window.

    3. Select All of Todays from the drop-down list.

    4. Click the Go button.

    5. The payment process request for today is displayed. Select the actions, arranged in their proper sequence.

      A. 2, 3, 4, 5

      B. 5, 2, 3, 4

      C. 1, 2, 3, 4, 5

      D. 5, 2, 3, 4, 5

      Answer: C

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