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Oracle 1Z0-561 Exam Sample Questions

Question: 2

When is the “Year-end P/L Account” (specified at the Bank level) used?

  1. when a particular GL is closed
  2. when the GL to which year-end balances should be posted is not specified in Accounts
  3. when all year-end transactions pertaining to Memo GL are to be posted
  4. when previous year adjustment entries are to be posted


Answer: B

Question: 4

An MM Borrowing contract has been created. The contract value date is 0l-Jan-2010 and maturity date is 31-Mar-2010. The customer has approached the bank and requested for an extension of the contract with a maturity date of 02-Apr-2010. From which screen of the MM module, can the extension of this contract be performed?

  1. MM Rollover screen
  2. MM Contract Schedule screen
  3. MM Value Dated Amendment screen
  4. from all of these three screens


Answer: C

Explanation:

Reference:

http://dc143.4shared.com/doc/zzOUkBmX/preview.html (see the table row – C20)

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Question: 3

In which depreciation method does the depreciation amount specified by the bank on a fixed asset does not remain constant throughout that asset’s useful life?

  1. SLM
  2. WDV
  3. Activity Depreciation Method
  4. Sum of Digits Depreciation Method


Answer: D

Explanation:

Reference:

http://www.ehow.com/list_6535356_define-methods-depreciation.html (see sum-of-the-years’-digits method)

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Question: 3

In which depreciation method does the depreciation amount specified by the bank on a fixed asset does not remain constant throughout that asset’s useful life?

  1. SLM
  2. WDV
  3. Activity Depreciation Method
  4. Sum of Digits Depreciation Method


Answer: D

Explanation:

Reference:

http://www.ehow.com/list_6535356_define-methods-depreciation.html (see sum-of-the-years’-digits method)

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Question: 2

When is the “Year-end P/L Account” (specified at the Bank level) used?

  1. when a particular GL is closed
  2. when the GL to which year-end balances should be posted is not specified in Accounts
  3. when all year-end transactions pertaining to Memo GL are to be posted
  4. when previous year adjustment entries are to be posted


Answer: B

Question: 4

An MM Borrowing contract has been created. The contract value date is 0l-Jan-2010 and maturity date is 31-Mar-2010. The customer has approached the bank and requested for an extension of the contract with a maturity date of 02-Apr-2010. From which screen of the MM module, can the extension of this contract be performed?

  1. MM Rollover screen
  2. MM Contract Schedule screen
  3. MM Value Dated Amendment screen
  4. from all of these three screens


Answer: C

Explanation:

Reference:

http://dc143.4shared.com/doc/zzOUkBmX/preview.html (see the table row – C20)