Oracle EBS R12.1 General Ledger Essentials (1Z1-516) Free Practice Test

Question 1

The following BML code in Config encountered an HTTP 404 error from someurl.com.
urldatabypost("http://someurl.com", "a1=v1&a2=v2", "call failed")
Which two statements are true? (Choose two.)

A. The call will return "call failed"

B. The HTTP error will be captured in the CPQ Cloud Error Logs: bm.log

C. The call will return "HTTP 404 Not Found"

D. An HTTP error will be displayed in red text with the message "HTTP 404 Not Found" at the top of the configuration screen

E. An unhandled exception will be displayed in red text at the top of the configuration screen

Correct Answer: C,E

Question 2

Which three statements are true about the revaluation process? (Choose three.)

A. This process revalues the foreign currency portion of the account balances by using the revaluation rate defined in the period rates table.

B. The revaluation process must be executed after the translation process has completed.

C. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.

D. You must post the revaluation journal entries.

Correct Answer: A,C,D

Question 3

ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart of accounts, accounting calendar, accounting method, and ledger-processing options.
UK management requires reporting on receivables from its US operations in GBP each month.
Identify the best option for the US operations to report to their parent.

A. Create a subledger-level reporting currency.

B. Create an account-level reporting currency.

C. Create a balance-level reporting currency and run general ledger translation.

D. Create a journal-level reporting currency for every transaction.

Correct Answer: A

Question 4

Identify the different types of data that can be processed using the GL Interface. (Choose three.)

A. rates

B. vendors

C. statistical

D. intercompany

E. currency codes

F. budget

Correct Answer: C,D,F

Question 5

A multi-select attribute with five options is displayed as check boxes. Depending on the conditions, the Configurator should show a user three of these five options.
How do you accomplish this?

A. by writing a Recommendation rule

B. by writing a Hiding rule

C. by writing a Constraint rule

D. by writing a Pricing rule

Correct Answer: B

Question 6

Along with Part Number, Quantity, and Price, you also want to send additional recommended item details from Configuration to Commerce by using a Recommended Item rule. Which two options enable you to achieve this? (Choose two.)

A. Use BOM Mapping rules

B. Use the Comment field to pass additional details

C. Pass the additional details by storing them in a Price Book

D. Concatenate the additional details to Part Number

E. This is not feasible. Only Part Number, Quantity, and Price can be passed from Config to Commerce by using Recommended Item rules

Correct Answer: A,B

Question 7

Identify two features of a Value Set that has a validation type of "None." (Choose two.)

A. Users can enter any value that they want even if it does not meet formatting requirements.

B. The entered value must meet the formatting requirements.

C. It has an approved list of values associated with it.

D. The Flexfield value security rules cannot be used for a segment that uses this Value Set.

Correct Answer: B,D

Question 8

ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific.
Choose the number of primary ledgers that are required to be defined.

A. two

B. four

C. three

D. one

E. five

Correct Answer: E

Question 9

You are implementing Oracle General Ledger at ABC Enterprises. ABC Enterprises is a legal entity and must perform corporate and statutory reporting. It operates in a country that requires companies to have two complete ledgers: one for statutory reporting and another for corporate reporting.
Identify the best option for primary and secondary ledgers.

A. Use the primary ledger to satisfy corporate reporting requirements, and then use an adjustment-only secondary ledger to satisfy statutory reporting requirements.

B. Use the primary ledger to satisfy statutory reporting requirements, and then use an adjustment-only secondary ledger to satisfy corporate reporting requirements.

C. Use the primary ledger to satisfy statutory reporting requirements, and then use a secondary ledger to satisfy corporate reporting requirements.

D. Use the primary ledger to satisfy corporate reporting requirements, and then use a secondary ledger to satisfy statutory reporting requirements.

Correct Answer: D

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Oracle EBS R12.1 General Ledger Essentials (1Z1-516) Free Practice Test