Oracle EBS R12.1 General Ledger Essentials - 1Z1-516 Exam Questions [2026]

QUESTION NO: 1
Identify two features of a Value Set that has a validation type of "None." (Choose two.)

A. Users can enter any value that they want even if it does not meet formatting requirements. B. The entered value must meet the formatting requirements. C. The Flexfield value security rules cannot be used for a segment that uses this Value Set. D. It has an approved list of values associated with it.

Correct Answer: B,C

QUESTION NO: 2
You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation.
Identify two setups required for journal approval. (Choose two.)

A. Disable the Journal: Find Approver Method profile option. B. Enable the Journal: Allow Preparer Approval profile option. C. Configure the GL journal approval process in Oracle Workflow Builder. D. Enable journal approval for the Journal Category window.

Correct Answer: B,C

QUESTION NO: 3
The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.)

A. Complete the accounting setup. B. Update accounting options. C. Create an accounting setup structure. D. Approve accounting options.

Correct Answer: A,B,C

QUESTION NO: 4
Select three levels where additional reporting currency representations can be maintained. (Choose three.)

A. subledger B. balance C. batch D. journal

Correct Answer: A,B,D

QUESTION NO: 5
Which are three testing strategies for Oracle CPQ Cloud? (Choose three.)

A. Avoid using a test case tracking tool because it is time consuming to track all of the testing team's efforts B. Test cases should be directly linked to business requirements 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. Perform isolated tests as well as intra-system and cross-system integration tests

Correct Answer: B,C,D

QUESTION NO: 6
Sam, the CFO of XYZ Company, finds that in the expenditure budget of the current year, there are many funds available in the stationery account, whereas there is not much amount left for employee travel expenses.
Sam instructs the budget analyst John to transfer 80% of the stationery account to the travel expenses account.
While transferring the amount, John encountered errors and approached Sam for a resolution. Sam reviews the situation and clarifies it to John.
Choose what Sam would have explained to John.

A. There must be some budgetary control enabled on the stationery and travel expenses accounts, and a transfer can be made only after a funds check. B. There must be some budgetary control enabled on the stationery account, and a transfer can be made only after a funds check. C. It is not possible to transfer amount from one account to another unless the absolute amount is known. So John should have calculated 80% of the stationery account and then tried to make the transfer. D. There must be some budgetary control enabled on the travel expenses, and a transfer can be made only after a funds check.

Correct Answer: B

QUESTION NO: 7
Identify three types of activities that are captured in Administration logs. (Choose three.)

A. creation of configuration objects B. creation of data tables C. uploading of files in File Manager D. deployment of configuration product families E. migrations with the site as target F. modification of Commerce process objects

Correct Answer: D,E,F

QUESTION NO: 8
In the Multi-Org model of Oracle E-Business Suite Release 12, which organization type owns Bank Account?

A. Operating Unit B. Business Group C. Legal Entity D. Balancing Entity E. Ledger

Correct Answer: C

QUESTION NO: 9
Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)

A. Build a report by using rows and columns. B. Determine which rows and columns make up your report. C. Specify the default ledger for ledger sets. D. Attach the fiscal calendar. E. Define rows and columns.

Correct Answer: C,D

QUESTION NO: 10
Identify three values that you can find in the Usage Metrics Report for the last month. (Choose three.)

A. The number of logins by internal users in the last 30 days and the percentage of active users logged in B. The number of transactions for different Commerce processes created by internal users and partner organization users C. The number of configurations completed for different product families by internal users and partner organization users D. A list of active partner organization users with the most recent login date and time and the number of logins E. The total number of partner organizations and the number of active partner organizations F. The total data size of the CPQ site occupied on the server

Correct Answer: A,B,F

QUESTION NO: 11
Identify the three actions that you can perform using the consolidation workbench. (Choose three.)

A. Create multi-level hierarchies, which you can view using the graphical consolidation hierarchy viewer. B. Access the state controller. C. Create consolidations sets, which launch multiple consolidations in a single step. D. Change the chart of accounts.

Correct Answer: A,B,C

QUESTION NO: 12
Given the following code:

Which function, when filled in the blank, will return a value of 1?

A. findinarray B. arrayfind C. findinsidearray D. findarray

Correct Answer: D

QUESTION NO: 13
You are the Human Resources lead for the ERP Implementation of ABC Corporation. You have defined the employees in Oracle Human Resources. Select three activities that utilize the employee record. (Choose three.)

A. Asset assignment B. Journal Entry creation C. Approvals D. Organization creation E. AutoCreate Purchase Orders

Correct Answer: A,C,E