Free Oracle 1Z1-516 Exam Dumps Questions & Answers

Exhibit:

View the Exhibit. While entering a journal in the Journals form, you enter a code combination of 29.402.4519.2103.240 in the five-segment Accounting Flexfield. However, you are unable to proceed after entering this account combination.
What could be the problem in the structure definition of the Accounting Flexfield?

• A.  The "Allow Dynamic Inserts" check box is deselected.
• B.  The "Cross-Validate Segments" check box is selected.
• C.  The "Freeze Flexfield Definition" check box is selected.
• D.  The "Freeze Rollup Groups" check box is selected.

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

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

Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?

• A.  Natural accounts were defined to not allow posting.
• B.  Natural accounts were defined with an incorrect account type.
• C.  Natural accounts were defined to store both statistical and monetary values.
• D.  Natural accounts were defined as parent values.

The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a closed period.
You check the setup and confirm that the GL period in which he was able to post the budget journal was closed. What explanation do you give?

• A.  The budget status is current.
• B.  The Require Budget Journal profile option is set at the set of books level.
• C.  The budget status is frozen.
• D.  The budget year is open.

ABC Corp. has determined its Accounting Key Flexfield structure for the implementation of Oracle E-Business Suite Release 12. The Accounting Key Flexfield structure contains five Segments: Company, Business Unit, Department, Account, and Product.
They have the following requirements:
1) The Department values should be based on the Business Units.
2) They want to produce a quarterly Balance Sheet for each Company.
Which three statements are true? (Choose three.)

• A.  The Department Segment is qualified as an Intercompany Segment.
• B.  Cross-validation rules are required to enforce dependency of Departments on the Business Units.
• C.  The Business Unit Value Set is defined as Independent.
• D.  The Company Segment is qualified as the Balancing Segment.
• E.  The Account Segment has a Value Set with no Validation.
• F.  The Product Value Set is dependent on the Accounts.