Oracle 1Z0-517 Certification Sample Questions and Answers

1Z0-517 PDF, 1Z0-517 Dumps PDF Free Download, 1Z0-517 Latest Dumps Free PDF, EBS Payables Essentials PDF DumpsThe Oracle EBS Payables Essentials (1Z0-517) Sample Question Set is designed to help you prepare for the Oracle E-Business Suite 12 Financial Management Certified Implementation Specialist - Oracle Payables certification exam. To become familiar with the actual Oracle Certification exam environment, we suggest you try our Sample Oracle 1Z0-517 Certification Practice Exam.

This Oracle EBS R12.1 Payables Essentials certification sample practice test and sample question set are designed for evaluation purposes only. If you want to test your Oracle 1Z0-517 knowledge to identify your areas of improvement and get familiar with the actual exam format, we suggest you prepare with the Premium Oracle E-Business Suite 12 Financial Management Certified Implementation Specialist - Oracle Payables Certification Practice Exam. Our team of Oracle E-Business Suite experts has designed Questions-Answers for this premium practice exam by collecting inputs from recently certified candidates. Our premium Oracle 1Z0-517 certification practice exam will boost your confidence as well as your actual Oracle EBS Payables Essentials exam result.

Oracle 1Z0-517 Sample Questions:

01. During a supplier setup review, an analyst is reconciling how a supplier record relates to the Trading Community Architecture (TCA) party model in R12, so that shared address data is used correctly.
Which statements correctly describe the supplier-to-TCA relationship?
(Choose two.)
a) The TCA party is created only for customers, so suppliers are stored entirely outside the community model.
b) A supplier is registered as a party in the TCA community model at the moment the supplier record is created.
c) Each supplier site is its own TCA party, and the supplier header is merely a reporting rollup of those parties.
d) The supplier exists only inside Payables and has no representation in TCA until its first invoice is accounted.
e) Supplier sites are associated with TCA party sites and addresses whose location data can be shared across the community.
 
02. A new implementation team is deciding where two settings belong: the accounts used when foreign-currency invoices realize an exchange gain or loss, and the default that determines whether newly entered invoices require line-level tax handling. One control is financial/accounting-oriented and the other governs day-to-day invoice entry behavior.
Which placement is correct for these two controls?
a) Both the gain/loss accounts and the invoice-entry tax default belong in Financials Options because they ultimately affect accounting.
b) The realized gain/loss accounts belong in Financials Options, while the invoice-entry tax-handling default belongs in Payables Options.
c) The realized gain/loss accounts belong in Payables Options, while the invoice-entry default that governs line-level tax handling belongs in Financials Options.
d) Both the realized gain/loss accounts and the invoice-entry tax default belong in Payables Options as transaction-processing setup.
 
03. While reviewing controls with a client, the analyst must classify two requirements: (1) the invoice amount and quantity variance limits Payables tolerates on matched invoices before a hold is applied, and (2) whether the same invoice number can be entered twice for one supplier. The client asks which options window each is configured in.
Which mapping is correct?
(Choose two.)
a) The invoice matching tolerance behavior is a Payables Options-level control governing AP invoice processing.
b) Both the tolerance limits and the duplicate-number control are configured in Financials Options because they ultimately affect the supplier ledger.
c) The duplicate-invoice-number control is a Payables Options-level setting governing whether a repeated number is allowed at invoice entry.
d) The matching tolerance behavior is defined in Financials Options alongside the legal-entity setup.
e) The duplicate-invoice-number control is set only at the individual supplier site, never in an options window.
 
04. On a supplier invoice, E-Business Tax calculates a transaction tax. Under the applicable tax configuration, part of that tax can be reclaimed from the authority and part cannot. The organization wants the reclaimable portion tracked separately from the portion that adds to the cost of the purchase.
How does Payables, driven by E-Business Tax, treat the two portions on the invoice distributions?
a) The recoverable portion is expensed into the purchase cost and the non-recoverable portion is booked to the tax recovery account.
b) The entire calculated tax is added to the item cost, and the recoverable portion is reclaimed later through a manual journal in the subledger.
c) The recoverable portion is posted to a tax recovery account, and the non-recoverable portion is added to the charge it relates to.
d) Both the recoverable and non-recoverable portions are withheld from the supplier's payment and remitted to the tax authority through withholding.
 
05. An analyst is closing the Payables period. The Unaccounted Transactions Report lists several validated invoices with no accounting, and management has confirmed those invoices are legitimate but their accounting cannot be finalized before the period must close on schedule.
Which actions are appropriate so the period can close cleanly while preserving the invoices?
(Choose two.)
a) Re-open the prior closed period and move the invoices back into it.
b) Run Create Accounting to account the eligible transactions before attempting to close.
c) Void the payments associated with the invoices to clear the accounting.
d) Sweep the remaining unaccounted transactions into the next open period.
e) Delete the validated invoices so they no longer appear on the report.
 
06. Two teams are debating the boundary between E-Business Tax and withholding tax in Payables. One process determines the transaction tax the organization owes or can recover on a purchase; the other deducts an amount from what is paid to the supplier and creates an obligation to remit that amount to a tax authority.
Which two statements correctly distinguish these tax mechanisms in Payables?
(Choose two.)
a) Both mechanisms are configured solely on the payment format and share the same recovery account.
b) E-Business Tax determines the transaction tax owed on the invoice, splitting it into recoverable and non-recoverable treatment.
c) Withholding tax reduces the amount paid to the supplier and records an amount owed to the tax authority.
d) Withholding tax determines the recoverable and non-recoverable portions of the input tax charged on each purchase invoice.
e) E-Business Tax withholds tax from the supplier at payment time and remits the withheld amount to the authority on the supplier's behalf.
 
07. For each subledger, there must be one _____.
a) journal category
b) journal source
c) journal type
d) account type
 
08. The manual payment method is best described as the method of ____.
a) manually writing a check outside of Payables
b) paying multiple checks in a pay run
c) paying a single check within Payables
d) recording a payment made outside of Payables
 
09. A table has 15 Attribute columns to capture additional information. The attributes 1-12 are set up in the Descriptive Flexfield as Global Segments.
How many attributes can be set up under any new context?
a) 1
b) 15
c) 3
d) 11
e) 12
 
10. Which event reverses an accrual for an item set to accrue on receipt?
a) paying an invoice
b) running the Receipt Accruals - Period-end process
c) delivering goods to a final destination
d) matching an invoice in Payables to a purchase order

Answers:

Question: 01

Answer: b, e

Question: 02

Answer: b

Question: 03

Answer: a, c

Question: 04

Answer: c

Question: 05

Answer: b, d

Question: 06

Answer: b, c

Question: 07

Answer: b

Question: 08

Answer: a

Question: 09

Answer: c

Question: 10

Answer: d
Rating: 5 / 5 (82 votes)