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Free 1Z0-516 Demo Download
1.One of your ABC.com co-workers, Tim, is working to define and develop Financial Statement Generator
reports where the budget amounts and actual amounts would display on the report per period. Tim comes
to you and says that he has defined an FSG report according to the client’s requirements; the actual
amounts are correctly shown, but the problem is that budget amounts are not showing up on the report.
What is your response?
A. Budget status is Frozen.
B. The budget name needs to be associated with the row set through control values.
C. There is some issue with the assignment of accounts to the budget organization.
D. The first fiscal year of the budget was never opened.
E. The last fiscal year of the budget is Closed.
Answer: B

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