1z0-517

1z0-517 practice questions, page 2 of 12, with answer review and explanations.

Question 6

Which three activities would use summary accounts? (Choose three.)

  1. creating a monthly recurring standard journal entry to amortize goodwill
  2. allocating the total monthly costs of the Information Services department to other departments
  3. estimating a sales commission accrual based on the total of all product sales for each division
  4. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries

Question 7

Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.

  1. a paper check to print and send to a supplier
  2. an EFT, EDI, or XML to the bank of a supplier
  3. a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier
  4. transmission of payment information to an external party, such as your bank, that prints checks on your behalf

Question 8

With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.

  1. issued
  2. updated
  3. negotiable
  4. reconciled

Question 9

Which event reverses an accrual for an item set to accrue on receipt?

  1. paying an invoice
  2. delivering goods to a final destination
  3. running the Receipt Accruals - Period-end process
  4. matching an invoice in Payables to a purchase order

Question 10

Identify three setup options that are defined in the Financial Options window. (Choose three.)

  1. interest
  2. retainage
  3. miscellaneous
  4. expenses clearing
  5. expense AP accrual account