Oracle 1Z0-516 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z0-516
Exam Name/Title: Oracle EBS R12.1 General Ledger Essentials
Certification Provider: Oracle
Corresponding Certification: Other Oracle Certification

Exam Questions: 180
Updated On: Jul 11, 2026

Question #11

Choose three required steps while performing the accounting setup in the Accounting Setup Manager. (Choose three.)

A. Create the accounting setup structure.

B. Assign balancing segment values to legal entities.

C. Update accounting options.

D. Complete the accounting setup.

E. Define intercompany balancing rules.

F. Define operating units.

Discussion 0

Correct Answer: A,C,D Vote an answer

Question #12

The company's 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. It is not possible to have more than one current budget.

B. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.

C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.

D. Whether you can have multiple current budgets depends on the budget organization.

E. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.

Discussion 0

Correct Answer: A Vote an answer

Question #13

ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution report is automatically created.
Identify three components on which the Create Journal Entries Execution report reports. (Choose three.)

A. Budget Journals

B. Payables encumbrance entries

C. Purchasing encumbrance entries

D. Posted Journals report

Discussion 0

Correct Answer: A,B,C Vote an answer

Question #14

Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup.
Which two are true for the creation of the accounting setup? (Choose two.)

A. After the subledger accounting method is assigned, it cannot be changed.

B. Before completing the accounting setup, secondary ledgers and currency can be deleted.

C. Assigning legal entities to accounting setups is compulsory.

D. A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.

Discussion 0

Correct Answer: B,D Vote an answer

Question #15

You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four legal entities to support operations in the US (East), the US (West), the UK, and France.
The chart of accounts and accounting calendar are similar for all entities except France. Only the UK operations want to enable average balances and journal approvals.
What would be the minimum number of setups needed to meet this need?

A. four

B. one

C. two

D. three

Discussion 0

Correct Answer: D Vote an answer

Question #16

Identify three values that you can find in the Usage Metrics Report for the last month. (Choose three.)

A. The number of configurations completed for different product families by internal users and partner organization users

B. The number of transactions for different Commerce processes created by internal users and partner organization users

C. The total data size of the CPQ site occupied on the server

D. The total number of partner organizations and the number of active partner organizations

E. A list of active partner organization users with the most recent login date and time and the number of logins

F. The number of logins by internal users in the last 30 days and the percentage of active users logged in

Discussion 0

Correct Answer: B,C,F Vote an answer

Question #17

Select two actions that ledger sets permit. (Choose two.)

A. performing variance inquiries

B. sending budget balance inquiries

C. grouping multiple ledgers that share the same chart of accounts and calendar.

D. being used for mass budgets

E. viewing account balances for multiple ledgers in one view

Discussion 0

Correct Answer: C,E Vote an answer

Question #18

Which statement is a proper definition of a Punch-In?

A. Punch-Ins are links that hook into a specific Commerce process in the system. They can be used to navigate directly to a given Commerce process in your application. They can also be used to jump into a specific Commerce process from an external website.

B. Punch-Ins are links that hook into specific pages in the system. They can be used to navigate directly from one page to another in your application. They can also be used to jump to a specific page from an external website.

C. Punch-Ins are buttons that take you to specific pages in the system. They can be used to navigate directly from one page to another in your application.

D. Punch-Ins are links that relate into specific parts in the system. They can be used to search directly for a given part in your application. They can also be used to search for a specific part from an external website.

E. Punch-Ins are links that hook into specific product families in the system. They can be used to navigate directly from a product family to another in your application. They can also be used to jump into a specific product family from an external website.

Discussion 0

Correct Answer: B Vote an answer

Question #19

Which are three testing strategies for Oracle CPQ Cloud? (Choose three.)

A. Test cases should be directly linked to business requirements

B. Perform isolated tests as well as intra-system and cross-system integration tests

C. Create specific test data for accounts, opportunities, and contracts in the CRM system and use that data to perform end-to-end tests for CPQ Cloud quotes

D. Avoid using a test case tracking tool because it is time consuming to track all of the testing team's efforts

Discussion 0

Correct Answer: A,B,C Vote an answer

Question #20

Based on default values, which statement is false about automatic FTP (File Transfer Protocol) processing in CPQ Cloud?

A. FTP uploads are processed every 90 minutes

B. You can use the Bulk Data service to extract the file format and upload it via FTP automation

C. You must list files in the order in which they should be processed in the upload_list.xml file

D. You must upload file to the automated folder on the FTP server

Discussion 0

Correct Answer: B Vote an answer

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