1Z0-520 Practice Questions

Question 1

Company ABC has a factory that is set up as an inventory organization with several subinventories.

Each of the subinventories has locators. The factory purchases material using a purchase order.

The person who receives the purchase order does not know which subinventory and locator the material needs to go to.

ABC wants the subinventory and locator to be automatically populated for that item.

Which option would solve the problem?

Accepted Answer

Use the Item Transactions Default form to create default subinventory and locators for the purchased item.

Answer

Populate the completion subinventory and locator on the routing for that item.

Answer

Use the restrict subinventory and restrict locator flag on the Item Master record of that item.

Answer

Populate the supply subinventory and locator fields on the Item Master record for the purchased item.

Question 2

Company X is identifying the major aspects of its inventory organization structure and definitions. Which two actions or statements would be correct? (Choose two.)

Accepted Answer

It can consider manufacturing facilities, warehouses, distribution centers, and branch offices, as well as other entities.

Accepted Answer

It does not need a minimum of two inventory organizations in a master/child relationship, but it is a best practice to do so.

Answer

An Inventory location can be an Office Site only If it Is also a registered office.

Answer

The financial impact of inventory parameters is limited to Purchase Price Variance and Intransit Account for Interorganization shipments and Transfer Credits for the sending organization.

Answer

You can control inventory organizations across different operating units from one responsibility but you cannot have ft default to one operating unit. The last used operating unit used before you tog off would default when you log in the next time.

Question 3

A supplier is not required on a _____.

Accepted Answer

Requisition

Answer

Invoice

Answer

Receipt

Answer

Quotation

Answer

Purchase Order

Answer

Request For Quotation

Question 4

Identify the correct sequence of steps in the Procure to Pay period dose process.

Accepted Answer

Prepare for period dose. > Run Validation/ Review and resolve holds. > Create accounting. > Transfer and review. > Close the period in AP. > Post journal entries in GL > Reconcile AP activity for the period. > Close the PO period.

Answer

Prepare for period close. > Run Validation/ Review and resolve holds. > Create accounting. > Transfer and review. > Close the period in AP. > Reconcile AP activity for the period. > Close the PO period. > Post journal entries in GL

Answer

Prepare for period dose. > Run Validation/ Review and resolve holds. > Create accounting. > Transfer and review. > Close the period in AP. > Post journal entries in GL > Reconcile AP activity for the period. > Close the PO period.

Answer

Prepare for period dose. > Run Validation/ Review and resolve holds. > Create accounting. > Transfer and review. > Close the period in AP. > Post journal entries in GL > Reconcile AP activity for the period. > Close the PO period.

Answer

Prepare for period dose. > Run Validation/ Review and resolve holds. > Transfer and review. > Close the period in AP. > Create accounting. > Post journal entries in GL. > Reconcile AP activity for the period. > Close the PO period.

Question 5

You received 100 units of item A on Monday. On Tuesday, you discovered that three units are missing from the shipment. You entered a correction to adjust the quantity received to 97. On Wednesday, you found two units damaged and you created a Return To Supplier transaction. The profile option PO: ERS Aging Period is set to 3 days. What is true if the Payment on Receipt process is run on Friday?

Accepted Answer

The process will generate an invoice for 95 units.

Answer

The process will generate an invoice for 97 units and a debit memo for 2 units.

Answer

The process will generate an invoice for 97 units. Then you will have to manually create a debit memo for 2 units.

Answer

The Return To Supplier transaction already created a debit memo. The Payment on Receipt process will generate an invoice for 97 units.

Answer

The process will generate an invoice for 100 units. Then you will have to manually adjust the invoice for 3 units and create a debit memo for 2 units.

Free Oracle 1Z0-520 Exam Practice Questions & Explanations