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Exam Code: 1Z0-516
Exam Name: Oracle (Oracle EBS R12.1 General Ledger Essentials)
Free One year updates to match real exam scenarios, 100% pass and refund Warranty.
Total Q&A: 773 Questions and Answers
Last Update: 2014-04-26

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NO.1 .ABC.com has two diverse business operations in retail stores and services. It has five legal entities in
Canada and five in the United States for both operations. The fiscal year end is the same for all the legal
entities with 12 monthly periods. However, ABC.com wants to use a 4-5-4 accounting calendar for its retail
operations and a calendar-month accounting calendar for the services operations. ABC.com also wants to
use a single chart of accounts structure. Which five items must ABC.com define to meet the minimum
setup steps that are required for the sets of books for all legal entities? (Choose five.)
A. two accounting calendars
B. four sets of books
C. three sets of books
D. two sets of books
E. chart of accounts structure
F. period types or use seeded ones
G. one accounting calendar
H. enable seeded CAD and USD currencies
I. account combinations
Answer: A,B,E,F,H

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NO.2 When you enter a journal, the journals in that batch _____.
A. should share the same period
B. should share both the same period and currency
C. should share the same accounting date
D. can have different periods, currencies, and accounting dates
E. should share the same currency
Answer: A

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NO.3 Which two statements correctly describe the translation process? (Choose two.)
A. The translation process allows you to translate only year-to-date amounts.
B. If you rerun the translation process, the process adds the additional data to the previous translated
amounts.
C. You can rerun the translation process more than once per period.
D. Translation for a subsidiary can be initiated from the parent using the State Controller Translate button.
Answer: C,D

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NO.4 One of your ABC.com co-workers, Tim, is working to define and develop Financial Statement Generator
reports where the budget amounts and actual amounts would display on the report per period. Tim comes
to you and says that he has defined an FSG report according to the client's requirements; the actual
amounts are correctly shown, but the problem is that budget amounts are not showing up on the report.
What is your response?
A. Budget status is Frozen.
B. The budget name needs to be associated with the row set through control values.
C. There is some issue with the assignment of accounts to the budget organization.
D. The first fiscal year of the budget was never opened.
E. The last fiscal year of the budget is Closed.
Answer: B

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NO.5 ABC.com is a national company with five divisions that share the same set of books. Select the
statement that best describes the consolidation process for ABC Corporation.
A. Run translations, transfer data and run financial reports.
B. Run revaluation, translation, and eliminations; transfer data and run financial reports.
C. Run revaluation and translation, transfer data and run financial reports.
D. Transfer data and run financial reports.
E. Enter eliminating journals and run financial reports.
Answer: E

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NO.6 One of ABC.com's clients wants the ability to report with Financial Statements Generator (FSG) and
perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit
is a group of cost centers and a business unit manager typically has several cost centers under his or her
responsibility. Which option will meet the client's requirements?
A. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the
parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or
Summary Accounts.
B. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the
parent cost centers. Create FSG based on the Rollup Groups.
C. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts
based on the parent cost centers. Create FSG based on the parent cost center values.
D. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the
parent cost centers. Create FSG based on the parent cost center values.
E. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for
the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts.
Answer: A

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NO.7 ABC.com has offices around the world, spread across different legal entities. ABC.com is
implementing Oracle General Ledger. Its accounting department wants to know how to reduce the burden
of elimination entries. What do you recommend?
A. Mass Allocation
B. ADI Journals
C. Recurring Journals
D. Summary Journals
E. Intercompany Journals
Answer: C

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NO.8 After creating a number of Financial Statement Generator reports, ABC.com wants a list of the
definitions for one specific account. Which report should be run to provide that information?
A. FSG: Content Set Detail Listing
B. FSG: Report Detail Listing
C. FSG: Where Used Report
Answer: C

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NO.9 Which report would provide information about the processing type (parallel or sequential) that may be
defined for reports?
A. Report Detail Listing
B. Content Set Summary Listing
C. Row Set Summary Listing
Answer: B

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NO.10 To review available Financial Statement Generator elements, which two reports would be helpful?
(Choose two.)
A. Column Set Detail Listing, Report Detail Listing
B. Content Set Detail Listing, Report Set Detail Listing
C. Column Set Summary Listing, Row Set Detail Listing
D. Content Set Detail listing, Chart of Accounts - Rollup Detail Listing
Answer: C

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NO.11 ABC.com wants to define a consolidation process for its enterprise.
It has two sets of books: Set of Books A and Set of Books B.
Both sets of books will use Oracle General Ledger.
Set of Books A has three companies with the same calendar and chart of accounts as Set of Books B. Set
of Books A has USD as its currency.
Set of Books B has four companies with the same chart of accounts and calendar as Set of Books
A. Set of Books B has GPD as its currency. Select the consolidation method.
A. Interface Data Transformer
B. Global Intercompany System
C. Oracle Financial Analyzer
D. Financial Statement Generator
Answer: D

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NO.12 What are the possible posting options in Oracle General Ledger?
A. Post Journal batches individually Post multiple batches Use AutoPost
B. Post Journal batches individually Post multiple journals
C. Post multiple batches
Post batches that meet specific criteria by submitting a concurrent request
D. Post Journal batches individually Post multiple batches Post batches that meet specific criteria by
submitting a concurrent request and using Journal Approval
Answer: A

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NO.13 Identify the two setups that control the defaulting of Tax Information on a journal entry. (Choose two.)
A. Set of Books
B. Journal categories
C. Account
Answer: A,C

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NO.14 ABC.com, the GL accountant, comes to you and says that he has defined the budget, and budget
amounts have been entered and approved by management. After approval he wants his assistant
accountants to NOT be able to update this budget. What is your response?
A. If the client wants to do this, then customization of workflow is the only option.
B. If the client wants to do this, then the budget status should be Current.
C. If the client wants to do this, then the budget status should be Frozen.
D. Oracle GL budget functionality cannot satisfy this requirement.
Answer: C

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NO.15 The Consolidation Workbench enables you to _____, _____, and _____. (Choose three.)
A. access the State Controller
B. create consolidations sets, which launch multiple consolidations in a single step
C. create multilevel hierarchies, which you can view using the graphical Consolidation Hierarchy Viewer
D. change the chart of accounts
Answer: A,B,C

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NO.16 Which two are true statements regarding elimination? (Choose two.)
A. You must specify an elimination company in the Elimination Sets window.
B. You can define balancing options for eliminating entries.
C. You can define an elimination set to contain a single elimination entry.
D. Currency is an optional component when defining an elimination set.
Answer: A,D

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NO.17 Which statement is correct about the differences between the functionalities of parent accounts and
summary accounts?
A. Summary accounts speed up the posting process, whereas parent accounts require additional time for
the posting process.
B. Summary accounts use the summing segment type for mass allocations, whereas parent accounts use
the looping segment type.
C. Summary accounts cannot be used in budget formulas, whereas parent accounts can be used in
budget formulas.
D. Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts
balances cannot be viewed in that form.
E. Summary accounts slow down the generation of Financial Statement Generators, whereas parent
accounts will help generate quicker results.
Answer: D

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NO.18 After you determine your needs and organize your summary account structure, which General Ledger
tools can you use to define parent-child values and rollup groups?
A. Analyzer Hierarchies, Account Hierarchy Manager or Account Hierarchy Editor (provided Applications
Desktop Integrator is installed).
B. Mass Maintenance, Analyzer Hierarchies, or Account Hierarchy Manager
C. Mass Maintenance or Account Hierarchy Manager
D. Mass Maintenance or Account Hierarchy Editor (provided Applications Desktop Integrator is installed).
E. Account Hierarchy Manager or Account Hierarchy Editor (provided Applications Desktop Integrator is
installed).
Answer: E

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NO.19 Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger,
Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS).
He wrote some notes from a conversation with his accounting manager about GIS. He wants you to
validate which points he has written down about GIS are true. Identify Jason's three correct points. ?
(Choose three.)
A. GIS enables intercompany transactions to be approved after transfer from AP and AR.
B. Unlike intercompany accounting within the same set of books, GIS only works between sets of books
but not within the same set of books.
C. Intercompany journals are created automatically as soon as they are approved.
D. You can set up GIS so that the sender's transactions do not need to be approved by the
receiver.
E. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
F. Each company that uses GIS must be set up as a subsidiary that is associated with a balancing
segment value.
G. You can optionally send notifications to a defined user or responsibility when an intercompany
transaction is initiated.
Answer: D,F,G

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NO.20 Oracle General Ledger provides a variety of ways to get information from reports and queries. What
can you do using standard reports that you cannot do using on-line queries? (Choose all that apply.)
A. group reports into report sets
B. review T-Accounts
C. view non-financial information
Answer: A,C

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NO.21 ABC.com is a $2 million company operating from the U.S., and has one set of books. It is spinning off
from its parent company and will be operating as an independent company. It is considering implementing
Oracle Financials but wants the product to work exactly in the same way as its legacy systems from its
parent company. What considerations should be presented to ABC in order for it to make a well-informed
decision? (Choose all that apply.)
A. Patching is simplified on a non-customized Oracle implementation.
B. Adding customizations to replicate the legacy system could increase cost of future upgrades.
C. Integration issues between modules are reduced when there are no customizations.
D. No information can be interfaced from the legacy system to the product.
Answer: A,B,C

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NO.22 What is the effect of summary accounts on the efficiency of the posting process?
A. There is no effect, because summary accounts do not use the posting process to accumulate values.
B. Use of summary accounts decreases the efficiency of the posting process.
C. Use of summary accounts neither increases nor decreases the efficiency of the posting
process.
D. Use of summary accounts increases the efficiency of the posting process.
Answer: B

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NO.23 During a period, several preapproved batches of miscellaneous transactions were entered and
released. The project manager informs you that he is unable to view the accounting in the expenditure
inquiry form. Which process was likely omitted?
A. streamline costs
B. distribute costs
C. interface costs
D. tieback costs
Answer: B

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NO.24 You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the US but has
a presence in many countries worldwide, and has transactions in multiple currencies. The implementation
team decides that GL multi currency setup will be part of the implementation. John, a junior consultant
helping you in the implementation effort, comes to you and says that he is testing the system and entering
journals in US dollars, yen and euros. He says that he is able to enter the journals in US dollars and euros,
but cannot enter the journals in Japanese yen. What possible explanation can you provide to John for
this?
A. Workflow needs to be customized for journals to be entered in yen.
B. Yen currency has not been enabled.
C. Daily rates have not been entered for yen.
D. Rate types have not been defined for yen.
Answer: B

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NO.25 You are implementing Oracle General Ledger at ABC.coms site. ABC.com is based in the US but has a
global presence in many countries worldwide, and has transactions in multiple currencies.
The implementation team decides that GL multi currency setup will be part of the implementation.
The GL accountant approaches you to discuss multiple reporting currencies (MRC); he wants to
implement MRC and link the primary set of books with the reporting set of books. Additionally, he says
that the primary and reporting sets of books all have different calendars but share the same chart of
accounts. What response do you provide?
A. The primary and reporting set of books must share the same calendar and chart of accounts.
B. There is no problem in satisfying this requirement.
C. The primary and reporting set of books must share the same currency and chart of accounts.
D. The primary and reporting set of books must share the same calendar, currency and chart of
accounts.
Answer: A

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NO.26 For each subledger there should be one _____.
A. Account Type
B. Journal Category
C. Journal Type
D. Journal Source
Answer: D

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NO.27 ABC.com has many Financial Statement Generator reports created to produce Profit & Loss
statements and Balance Sheet reports. Occasionally ABC.com has a need to run a report that is slightly
different than the standard ones that are already created. Which two types of changes could XYZ make
using the Row Order feature? (Choose two.)
A. display segment values and descriptions
B. add a new calculation
C. change how rounding options are performed
D. sort based on column values
Answer: A,D

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NO.28 ABC.com has offices around the world, spread across different legal entities. ABC.com is
implementing Oracle General Ledger. Its accounting department wants to know how to reduce the burden
of elimination entries. What do you recommend?
A. Summary Journals
B. ADI Journals
C. Intercompany Journals
D. Recurring Journals
E. Mass Allocation
Answer: D

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NO.29 Exhibit:
You work as a DBA for ABC.com. Please study the exhibit carefully.
GL Consolidation: Preserve Journal Batching is set to Yes.
GL Consolidation: Preserve Journal Effective Date is set to Yes.
What would the result be?
A. 1, 3, 4
B. 2, 3, 4
C. 3, 4, 5
D. 5, 1, 2
E. 5, 3, 2,
Answer: A

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NO.30 All of the manual journal entries are defaulting to a non current period. Which step was omitted from
the accounting cycle?
A. Post Journal Entries
B. Update Period
C. Consolidate Financials
D. Translated Foreign Balances
E. Reverse Journal Entries
Answer: B

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