1Z0-518 Oracle E-Business Suite R12.1 Receivables Essentials Practice Questions
Prepare for 1Z0-518 with more than an answer.
- Level
- Specialist
- Valid for
- Lifetime (no expiration)
Domains covered on the exam 2
- E-BUSINESS ESSENTIALS40%
- RECEIVABLES60%
- 1
What is the primary purpose of the 'Create Accounting' program in the context of Oracle Subledger Accounting (SLA)?
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Correct answer: C
The 'Create Accounting' program is the core engine of Subledger Accounting (SLA). Its primary function is to process transactions from subledgers like Receivables and Payables, apply the configured accounting rules (Accounting Methods Builder), and generate the corresponding detailed journal entries. These entries can then be reviewed and transferred to the General Ledger.
- 2
A user needs to create a custom report showing customer transactions across three different operating units. The user only has one responsibility. Which feature, if enabled, allows the user to run this report without switching responsibilities?
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Correct answer: B
Multi-Org Access Control (MOAC) is the feature that allows a user within a single responsibility to access, process, and report on data for multiple operating units that are included in their assigned security profile. Without MOAC, the user would need to switch responsibilities for each operating unit.
- 3
True or False: Once an invoice has been accounted and transferred to the General Ledger, it is not possible to create a credit memo against it.
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Correct answer: B
This statement is false. Oracle Receivables allows you to create a credit memo against an invoice at any point in its lifecycle, as long as it has a balance. The accounting for the credit memo will create reversing entries that will also be transferred to the General Ledger, ensuring both the subledger and GL are accurate.
- 4
An implementation consultant is setting up Bill Presentment Architecture (BPA) to generate customized invoices. The company has three distinct invoice formats: one for government customers, one for international customers, and a standard format for all domestic commercial customers. What BPA component is used to determine which invoice template to apply to a given transaction?
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Correct answer: B
In Bill Presentment Architecture, Template Assignment Rules are used to evaluate attributes of a transaction or customer (such as customer class, bill-to country, etc.) to dynamically select the correct template for printing. The consultant would create rules based on customer type (Government, International, Domestic) to assign the appropriate invoice template.
- 5
A user applied a receipt of $1,000 to an invoice of $1,200. The user then created a chargeback for the remaining $200. What is the status of the original invoice after these actions?
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Correct answer: B
Creating a chargeback closes the original invoice by the chargeback amount. The system treats the chargeback as a form of payment against the original invoice. It simultaneously creates a new invoice of transaction type 'Chargeback' for the specified amount ($200), which the customer is now expected to pay. Therefore, the original $1,200 invoice is considered closed.
- 6
The Revenue Recognition program must be run to generate the appropriate accounting distributions for invoices with invoicing rules. Which of the following scenarios requires the use of the Revenue Recognition program? (Select TWO)
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Correct answer: A, D
- 7
A period-end closing process is being performed. A diagram shows the sequence of key concurrent programs that must be run. Which program is responsible for generating the accounting entries for transactions and transferring them to the General Ledger interface?
flowchart TD A[Run Preliminary Reports] --> B{Resolve Exceptions} B --> C[Run Revenue Recognition] C --> D[Run Create Accounting] D --> E[Transfer to GL] E --> F[Run Reconciliation Reports] F --> G[Close AR Period]Show answer details
Correct answer: B
The 'Create Accounting' program is the core Subledger Accounting (SLA) engine. It reads the transactional data from Receivables, applies the defined accounting rules to generate the detailed journal entries (debits and credits), and then populates the GL interface tables. The 'Transfer Journal Entries to GL' parameter within this program controls the final step of pushing the data to the General Ledger.
- 8
A global manufacturing firm is implementing Oracle R12.1 Receivables across three operating units: US, UK, and Germany. The implementation consultant has configured Multi-Org Access Control (MOAC). A senior AR manager based in the US needs to process receipts and create adjustments for customers in both the US and UK operating units, but must be prevented from accessing any German transactions. How should this security requirement be configured?
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Correct answer: B
The correct method for granting access to multiple specific operating units is to create a security profile that lists those operating units. This security profile is then assigned to the user's responsibility via the 'MO: Security Profile' profile option. This enables MOAC and allows the user to access data only for the OUs in their security profile. Using individual profile options or multiple security profiles for a single responsibility is not the standard or correct approach.
- 9
During data migration, a large number of legacy invoices are being imported into Oracle Receivables using the AutoInvoice interface. The AutoInvoice Master program completes, but the validation report shows that hundreds of records have been rejected with the error 'Your transaction numbering method is 'Automatic' but you have entered a transaction number.' What is the most efficient way to resolve this issue and re-process the rejected lines?
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Correct answer: D
This error occurs because the transaction source is configured for automatic numbering, but the interface lines contain values in the transaction number field. The most efficient way to handle a large volume of such errors is to update the interface table directly using a SQL script to nullify the conflicting data. The AutoInvoice Correction form is designed for smaller volumes and would be too time-consuming. Deleting and re-populating is inefficient, and changing the Transaction Source setup might have unintended consequences for other processes.
- 10
A company wants to automatically apply receipts received via a bank lockbox file to open invoices. However, for a specific high-volume customer, 'Global Imports,' any receipts that cannot be matched to an invoice should be automatically placed on-account instead of being left unapplied. Which setup is required to achieve this specific requirement for only this customer?
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Correct answer: C
Customer-specific receipt application behavior is controlled at the customer account or site profile level. By enabling the 'AutoCash Rule Set' at the customer's profile and defining a rule that places unidentified or remaining amounts on-account, you can override the system-level behavior for just that customer. Modifying the lockbox or system options would affect all customers processed through that lockbox or system-wide, which does not meet the requirement.
