Online Access Free 1Z0-215 Practice Test

The companys two senior executives have different budget figures. They want Peter, the GL accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them. What would be your response?

• A.Whether you can have multiple current budgets depends on the budget organization.
• B.The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.
• C.The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
• D.The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
• E.It is not possible to have more than one current budget.

When structuring the summary accounts hierarchy, what fact must you take into consideration?

• A.You must include every parent value that is defined in the chart of accounts to a rollup group.
• B.You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.
• C.Grandparenting is not allowed (parents cannot become children).
• D.General Ledger will not automatically maintain rollup relationships from the summary level to the lowest detail level.

ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use?

• A.Usesubledger-level secondary ledger conversion.
• B.Use journal-level secondary ledger conversion.
• C.Use bothsubledger-level and adjustment-level secondary ledger conversion.
• D.Use adjustment-level secondary ledger conversion.

XYZ Corporation uses Fixed Assets to manage their Asset transactions such as capitalizing, depreciating, adjusting, and retiring. After assets are purchased and the invoice is entered and accounted for, the company runs the Mass Additions Create process to send assets to Fixed Assets. When the purchase order is written, which account must be specified on the purchase order distribution for the charge account?

• A.the AP trade liability account associated with the operating unit
• B.the asset cost account associated with an asset category in Assets
• C.the asset clearing account associated with an asset category in Assets
• D.the material account associated with the inventory organization

ABC Corporation wants to convert from their existing legacy application to Oracle E-Business Suite Release 12. Identify three statements that are true for invoice conversion. (Choose three.)

• A.Invoices related to employee expense cannot be converted.
• B.Merge all paid invoices for a supplier.
• C.Use Payables Open Interface to convert unpaid invoices and credit memos.
• D.Develop metrics that will be used to determine whether data conversion was successful.
• E.Establish a cutoff date after which invoices will be entered in Payables.