1Z0-517 practice question 5 of 25

Identify four purposes for which the Special Calendar is used. (Choose four.)

Full set: 137 questions
Answer options
A: payment terms Correct answer
B: recurring invoices Correct answer
C: Key Indicators Report Correct answer
D: automatic tax withholding Correct answer
E: opening and closing payables periods
F: controlling the number of future periods
Correct Answer:
A. payment terms; B. recurring invoices; C. Key Indicators Report; D. automatic tax withholding
Explanation

In Oracle Payables, Special Calendars are distinct from the primary Accounting Calendar and are utilized to define specific period types for specialized functions. According to Oracle documentation, they are explicitly required for four main purposes: defining calendar-based Payment Terms (to calculate due dates based on specific periods), scheduling Recurring Invoices (to dictate when periodic invoices are generated), managing Automatic Withholding Tax (to track period-based withholding tax limits and exceptions), and generating the Key Indicators Report (to establish the reporting periods for tracking accounts payable activities). They are not used for standard accounting period controls.

Why Incorrect

E. opening and closing payables periods: This function is managed by the primary Accounting Calendar shared with Oracle General Ledger, not a Special Calendar.
F. controlling the number of future periods: The number of future enterable periods is defined in the Payables Options setup and relies on the standard Accounting Calendar.

References

Oracle Payables Implementation Guide, Release 12.1 (Part No. E13644-04), Chapter 1: Payables Setup, Section: "Special Calendars" (Details the four specific uses: Withholding Tax, Recurring Invoices, Payment Terms, and Key Indicators).

Oracle Payables User's Guide, Release 12.1 (Part No. E13643-04), Chapter 5: Invoices, Section: "Recurring Invoices" (Specifies the requirement of a Special Calendar for recurring invoice generation).

Oracle Payables User's Guide, Release 12.1 (Part No. E13643-04), Chapter 8: Reports, Section: "Key Indicators Report" (Documents the prerequisite of assigning a Special Calendar to run the report).

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