1Z0-215 by Oracle Actual Free Exam Questions And Answers

Question 1

Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.)

A. Define accounts for realized gains and realized losses.

B. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.

C. Define accounts for unrealized gains and unrealized losses.

D. Define a batch under which the revaluation journals would be stored.

E. Define the weights for each currency used for doing transactions.

Discussion 0

Correct Answer: B,C Vote an answer

Question 2

Select the three windows where a user can manually release an invoice hold or payment hold. (Choose three.)

A. Scheduled Payments

B. Holds

C. Actions

D. All Distributions

E. Invoice Lines

Discussion 0

Correct Answer: A,B,C Vote an answer

Question 3

Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error. (Choose two.)

A. Review theGL_Interface tables.

B. Confirm the account hierarchy setups.

C. Evaluate the mapping settings.

D. Review the workflow process.

E. Run the period close by using a different amount type.

Discussion 0

Correct Answer: A,C Vote an answer

Question 4

Which journal entry type does General Ledger automatically reverse and post?

A. actuals and budgets

B. actuals, budgets, and encumbrance

C. actuals

D. budgets

E. budgets and encumbrance

Discussion 0

Correct Answer: C Vote an answer

Question 5

You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust _____.

A. the number of invoice lines

B. the amount of another distribution

C. the self assessed taxes in the Tax Details window

D. the total header invoice amount

Discussion 0

Correct Answer: B Vote an answer

Question 6

Select two actions that ledger sets permit. (Choose two.)

A. performing variance inquiries

B. viewing account balances for multiple ledgers in one view

C. grouping multiple ledgers that share the same chart of accounts and calendar

D. being used for mass budgets

E. sending budget balance inquiries

Discussion 0

Correct Answer: B,C Vote an answer

Question 7

You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation. Identify two setups required for journal approval. (Choose two.)

A. Enable journal approval for the Journal Category window.

B. Configure the GL journal approval process in Oracle Workflow Builder.

C. Enable the Journal: Allow Preparer Approval profile option.

D. Disable the Journal: Find Approver Method profile option.

Discussion 0

Correct Answer: B,C Vote an answer

Question 8

Company A wants to distribute the rent expense to its various departments on the basis of floor space. It has taken these steps:
1) capturing the floor space that is used by each department in a statistical account 2) creating a journal entry for the rent
Identify the next two steps required to distribute the rent cost to the various departments. (Choose two.)

A. posting the journal

B. defining theMassAllocation journal

C. creating manual journal entries for distributing the rent

D. defining and generatingMassAllocation

Discussion 0

Correct Answer: A,D Vote an answer

Question 9

Your company accrues expense items at period end. Identify the report that must be generated before you run your receipts' accrual period-end process.

A. Accounts Payable Trial Balance

B. Mass Additions Create

C. Accrual Write-Off

D. Uninvoiced Receipts

Discussion 0

Correct Answer: D Vote an answer

Question 10

Jack is hired as an Oracle General Ledger implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.)

A. Journal approval on the Ledger Setup page

B. Journal Sources form

C. Journal Encumbrance Types form

D. Journal Categories form

E. keyflexfields

Discussion 0

Correct Answer: A,B Vote an answer

Question 11

Which two statements are true if you select the QuickMatch invoice type? (Choose two.)

A. You can useQuickMatch to match individual purchase order shipments.

B. You can useQuickMatch to match individual distribution lines.

C. Payables automaticallycreates invoice distributions on the basis of the purchase order distributions.

D. Payables automaticallycompletes the match to all available shipments on the purchase order.

Discussion 0

Correct Answer: C,D Vote an answer

Question 12

Identify four functions of the Invoice Validation process. (Choose four.)

A. ensuring that the total amount of all distributions equals the invoice total

B. validating and creating accounting entries for the invoice

C. validating the General Ledger accounting information

D. applying any required holds

E. applying all prepayments and discounts

F. releasing any qualifying holds

G. creating an additional distribution for any difference between the total amount of all distributions and the invoice total

Discussion 0

Correct Answer: A,C,D,F Vote an answer

Question 13

Company A wants to use Oracle Internet Expenses with expense report templates. Identify three true statements for the setup of expense report templates. (Choose three.)

A. The expense report template must be enabled for Internet Expenses.

B. Each expense item must have an expense category assigned to it.

C. The GL account assigned to an expense item must have all accounting flexfield segment values entered.

D. The tax code assigned to an expense item must be Web enabled.

Discussion 0

Correct Answer: A,B,D Vote an answer

Question 14

Identify three statements that are true for electronic or wire payment. (Choose three.)

A. Supplier banks must be assigned to the supplier for electronic payment.

B. A wire payment validates the supplier's bank details.

C. More bank accounts for a supplier or supplier site can be added.

D. Payablesdoes not require supplier bank account information for a wire payment.

E. Electronic payment instructs the bank to make payment to a supplier bank account.

Discussion 0

Correct Answer: A,D,E Vote an answer

Oracle EBS R12: General Ledger and Payables Fundamentals - 1Z0-215 Exam Practice Test

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