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Oracle 1Z0-516 Exam Sample Questions

Question: 2

Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason’s three correct points. (Choose three.)

  1. GIS enables intercompany transactions to be approved after transfer from AP and AR.
  2. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books.
  3. Intercompany journals are created automatically as soon as they are approved.
  4. You can set up GIS so that the sender’s transactions do not need to be approved by the receiver.
  5. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
  • Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.
  • You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated.

  • Answer: D,F,G

    Question: 2

    Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason’s three correct points. (Choose three.)

    1. GIS enables intercompany transactions to be approved after transfer from AP and AR.
    2. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books.
    3. Intercompany journals are created automatically as soon as they are approved.
    4. You can set up GIS so that the sender’s transactions do not need to be approved by the receiver.
    5. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
  • Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.
  • You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated.

  • Answer: D,F,G

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    Question: 4

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    Answer: B

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    Question: 3

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    1. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts.
    2. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the Rollup Groups.
    3. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values.
    4. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the parent cost center values.
    5. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts.


    Answer: A

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    Question: 2

    Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason’s three correct points. (Choose three.)

    1. GIS enables intercompany transactions to be approved after transfer from AP and AR.
    2. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books.
    3. Intercompany journals are created automatically as soon as they are approved.
    4. You can set up GIS so that the sender’s transactions do not need to be approved by the receiver.
    5. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
  • Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.
  • You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated.

  • Answer: D,F,G

    Question: 2

    Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Intercompany System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason’s three correct points. (Choose three.)

    1. GIS enables intercompany transactions to be approved after transfer from AP and AR.
    2. Unlike intercompany accounting within the same set of books, GIS only works between sets of books but not within the same set of books.
    3. Intercompany journals are created automatically as soon as they are approved.
    4. You can set up GIS so that the sender’s transactions do not need to be approved by the receiver.
    5. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
  • Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.
  • You can optionally send notifications to a defined user or responsibility when an intercompany transaction is initiated.

  • Answer: D,F,G