Oracle EBS R12.1 Receivables Essentials - 1Z0-518 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

In the Multi-Org model of Oracle E-Business Suite Release 12, which organization type owns Bank Account?

A. Balancing Entity B. Operating Unit C. Business Group D. Legal Entity E. Ledger

Discussion 0

Correct Answer: D Vote an answer

Question 2

Horizon Real Estate Company usually Issues rent Invoices to its tenants at the beginning of every quarter. It recognizes the monthly rent revenue on the first day of each month. However, some tenants are required to make the monthly rent payments in two installments that is on the 15th and the fast day of the month. Which two statements are correct about the possible solutions for this business requirement? (Choose two.)

A. Invoicing rules can be set to defer the monthly rent revenue. B. Payment term can be set to allow customers to make payments in two installments. C. Payment term can be set to defer the monthly rent revenue. D. Invoicing rules can be set to allow customers to make payments in two installments. E. Accounting rules can be set to defer the monthly rent revenue. F. Accounting rules can be set to allow customers to make payments in two installments.

Discussion 0

Correct Answer: B,E Vote an answer

Question 3

ABC Corp. has the following Organization Structure:
1) Legal Entity: A
2) Operating Units: B and C
3) Balancing Entities: 10, 20, and 30
Identify three correct statements regarding the Balancing Entity. (Choose three.)

A. Balancing Entity is the lowest postable unit in the Chart of Accounts. B. There can be multiple Balancing Entities within an Operating Unit. C. Balancing Entities can be secured at the Operating Unit level through Security Rules. D. Each Balancing Entity must balance within itself. E. Balancing Entities can be automatically secured at the Legal Entity level.

Discussion 0

Correct Answer: B,C,D Vote an answer

Question 4

Oracle Credit Management (OCM) uses lookups to help speed up data entry and increase accuracy. Select two required lookups used by OCM. (Choose two.)

A. credit classification B. risk code C. credit review type D. credit rating E. payment terms

Discussion 0

Correct Answer: A,C Vote an answer

Question 5

Select two features regarding the completion of a successful customer merge in Oracle Receivables that support ongoing customer data cleansing efforts after go-live. (Choose two.)

A. Customer sites associated with the old customer or site are associated with the new customer or site after the customer merge process. B. Customer transactions or audit transactions details for the merge-from customer remain available for reprinting after the customer merge process. C. Duplicate parties are re pointed to the surviving party after the customer merge process. D. Customer merge activity can be reversed after the merge process. E. Bank details for the merge-from customer remains available after the merge process. F. Duplicate customers are repointed to the surviving customer after the customer merge process.

Discussion 0

Correct Answer: A,F Vote an answer

Question 6

During the cutover phase of a project to Implement Oracle E-Business Suite Release 12, you are responsible for converting historical account balances into Oracle General Ledger from a legacy system. There is no Account Code Combination setup in the Production Instance.
Identify the setup in the Accounting Key Flexfield structure that is required to perform this conversion.

A. The Key Flexfield Segments have to be enabled and displayed. B. Define Value Sets and assign them to Segments. C. Define Segments in the Accounting Flexfield structure. D. Qualify one of the Segments as the Balancing Segment. E. Select the "Allow Dynamic Inserts" check box in the Accounting Key Flexfield structure.

Discussion 0

Correct Answer: E Vote an answer

Question 7

XYZ Corp. has operations In the U.S. and Canada. Within Canada, it has two separate Divisions due to Statutory requirements: one in Quebec and another in Ontario.
How would you define the organization structure for XYZ Corp. from the Information given above?

A. two Ledgers, two Legal Entitles, and three Operating Units B. two Ledgers, three Legal Entitles, and three Operating Units C. two Ledgers, three Legal Entities, and two Operating Units D. two Ledgers, two Legal Entitles, and two Operating Units E. three Ledgers, three Legal Entities, and three Operating Units

Discussion 0

Correct Answer: B Vote an answer

Question 8

Identify the Receivables activity type where you are unable to select the tax rate code source option of invoice.

A. miscellaneous cash B. unearned discount C. earned discount D. adjustment

Discussion 0

Correct Answer: A Vote an answer

Question 9

MT Services has several operating companies set up as balancing segment values In Its chart of accounts.
There is only one sales tax rate that is applicable to its services. However, for accounting purposes, MT Services must track the sales tax by operating company.
Except for some government agencies that are customers, sales tax is applicable to all customers. The controller wants to know the minimum setup steps that MT Services must perform.
Choose the three minimum setups needed in Receivables and E-Business Tax to charge sales tax.
(Choose three.)

A. tax exemptions for customers and customer sites B. tax groups C. tax classification codes D. location sales tax E. AutoAccounting for tax F. assigning tax code to transaction type

Discussion 0

Correct Answer: A,D,E Vote an answer

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Question 10

Your client is Implementing Oracle Financials and Order Management. The AR team lead has heard about the Tax Reporting Ledger and wants to know which subledger modules are used by the report. Identify three applications that can be reported by the Tax Reporting Ledger.
(Choose three.)

A. Payables B. Receivables C. Cash Management D. Treasury E. Order Management F. Purchasing G. General Ledger

Discussion 0

Correct Answer: A,B,G Vote an answer