1Z0-516 Free Practice Test

Select two components that are required to create the accounting setup by using Accounting Setup Manager. (Choose two.)

1. A. ledgers
2. B. operating units
3. C. data access sets
4. D. definition access sets
5. E. subledger accounting method

Correct Answer: AE

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

1. A. batch
2. B. journal
3. C. balance
4. D. subledger

Correct Answer: BCD

Identify three features of a Balancing Entity. (Choose three.)

1. A. Balance sheets are prepared for a Balancing Entity.
2. B. A Legal Entity may comprise one or more than one balancing segments.
3. C. Multiple Balancing Entities within the same Operating Unit structure is not supported.
4. D. A Balancing Entity is represented as a balancing segment value in the accounting flexfield structure.
5. E. Oracle E-Business Suite Release 12 automatically secures balancing segment values within your chart of accounts with specific Legal Entities or Operating Units.

Correct Answer: ABD

Which format will datetostr(getdate()) return when no format is supplied?

1. A. DD/mm/yyyy HH:mm:ss
2. B. HH:mm:ss MM/dd/yyyy
3. C. HH:mm:ss DD/mm/yyyy
4. D. MM/dd/yyyy HH:mm:ss

Correct Answer: D

Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)

1. A. Both budget and actual balances can be consolidated.
2. B. Consolidation is possible only when the subsidiaries use multiple Oracle application instances.
3. C. You can consolidate balances only when there are separate ledgers for different companies.
4. D. You can maintain multiple companies with similar or different accounting structures and consolidate their results for meaningful financial reporting.

Correct Answer: AD