1Z0-516 Free Practice Test

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

1. A. Cross Organization reports and multiple Organization reports are the same.
2. B. Cross Organization reports can be submitted for a Reporting Level of Ledger.
3. C. Multiple Organization reports can be submitted for a Reporting Level of Ledger.
4. D. Multiple Organization reports produce outputs for different Operating Units one at a time from a single responsibility.
5. E. Cross Organization reports produce outputs across different Operating Units in a single report from a single responsibility.
6. F. Multiple Organization reports produce outputs for different Operating Units in a single report output from a single responsibility.

Correct Answer: BDE

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

1. A. have similar ledger processing options
2. B. open and close periods simultaneously
3. C. have tax requirements that are specific for a legal entity
4. D. require autonomous document sequencing for a legal entity
5. E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

Correct Answer: ABE

Which four attributes are validated during the Journal Import process? (Choose four.)

1. A. period
2. B. approval level
3. C. balanced journal
4. D. cross-validation rule
5. E. account combination
6. F. journal sequence number

Correct Answer: ACDE

A Ledger is a financial reporting entity. What is new in Oracle E-Business Suite Release 12 that facilitates generation of accounting entries?

1. A. Ledger
2. B. Chart of Accounts
3. C. Multi-Org Structure
4. D. Accounting Convention
5. E. Financial Accounting Calendar

Correct Answer: D

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?

1. A. It is not possible to have more than one current budget.
2. B. Whether you can have multiple current budgets depends on the budget organization.
3. C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
4. D. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
5. E. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.

Correct Answer: A