Oracle 1Z0-1057-23 Online Practice Questions and Exam Preparation

Oracle 1Z0-1057-23 Online Questions & Answers

• Question 11:

  Your client uses Resource Breakdown Structures (RBS) and Resource Mapping to associate amounts to resources. After making some changes to the resources at project level, forecasts are regenerated. After reviewing the cost amounts associated with the resources, you suspect that the cost association does not match your client's expectations. Identify two valid rules based on which cost association works. (Choose two.)

  A. If one branch contains a user-defined resource type, precedence is given to the branch that contains a user-defined resource type.
  B. If a transaction maps to more than one level, Oracle PPM Cloud sums the precedence numbers for all resource type in the branch and gives precedence to the resource element in the branch with the highest sum.
  C. If there is only one level in RBS to which the transaction maps, the cost amounts are mapped to that level.
  D. If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.
  C. If there is only one level in RBS to which the transaction maps, the cost amounts are mapped to that level.
  D. If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.

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  Explanation/Reference:

  Reference

  https://docs.oracle.com/cd/E37583_01/doc.1116/e22598/F458900AN13D82.htm How Resource Mapping Is Calculated

  You can track the cost impact of every resource that has been assigned to a project task and use the resource breakdown structure to view the breakdown of these costs. Oracle Fusion Projects associates the costs of the resources used for

  tasks with branches and levels in the resource breakdown structure. The process for determining the correct association is managed by rules of precedence.

  Oracle Fusion Projects uses the following rules to associate cost amounts with resources:

  Select the lowest level in the resource breakdown structure to which a transaction can map.

  If there is only one level to which the transaction maps, the cost amounts are mapped to that level.

  If the transaction maps to more than one level, Oracle Fusion Projects sums the precedence numbers for all resource types in the branch and gives precedence to the resource element in the branch with the lowest sum. If more than one

  branch has the lowest precedence number at the lower level, the application uses the precedence number of the next level up. If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with

  the lowest number at the lowest level. If one branch contains a user-defined resource type, precedence is given to the branch that does not contain a user-defined resource type.

  Note Oracle Fusion Projects gives more precedence to a lower precedence number. For example, a resource element with a precedence number of 1 is given precedence over a resource element with a precedence number of 10.

• Question 12:

  Your customer wants additional project information for detailed account balance maintenance, reconciliation, and reporting. Identify the configuration in subledger accounting that can be set up to fulfill this requirement. (Choose the best answer.)

  A. Accounting Method
  B. Journal Rules
  C. Supporting References
  D. Accounting Rule
  E. Mapping Sets
  C. Supporting References

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  Explanation/Reference:

  Reference

  https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM11 25357

  Assignment of Supporting References

  Supporting references may be used to capture transaction values on journal entry lines. A supporting reference can be used on a journal entry rule set only if it's assigned a source from the event class of the journal entry rule set.

  Creating Supporting References: Explained

  Supporting references are used to store additional source information about a subledger journal entry at the line level.

  Supporting references with balances establish subledger balances for a particular source and account for a particular combination of supporting references plus the account combination.

  For example:

  If a journal line contains a supporting reference that includes two sources, Customer Type and Customer Name.

  Balances are created for the account combination, plus customer name and customer type.

  Examples of how you may want to use supporting reference balances are to:

  Facilitate reconciliation back to the subledgers and source systems by tagging journal entries with transaction and reference attributes. Create balances by dimensions not captured in the chart of accounts. Reporting using dimensions not

  captured in the chart of accounts. Enrich Oracle Fusion Business Intelligence Applications reporting on subledger journals.

  Profit and loss balances by dimensions not captured in the chart of accounts

  Define supporting references to hold additional supporting information for detailed account balance maintenance or reconciliation and reporting requirements.

• Question 13:

  Which data format is supported by SOAP Web services to establish communication between web services consumers and web services providers?

  A. CSV
  B. XML
  C. JSON
  D. XLSX
  B. XML

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  Explanation/Reference:

  XML (Extensible Markup Language) is the data format that is supported by SOAP (Simple Object Access Protocol) Web services to establish communication between web services consumers and web services providers. XML is a standard format that allows data to be exchanged across different platforms and applications. SOAP Web services use XML to encode the messages and data that are sent and received between the web services endpoints. Reference: https:// docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financial-management.html#OAPFM2356071

• Question 14:

  You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error. Identify two reasons for this problem. (Choose two.)

  A. The corresponding Oracle Payables Cloud accounting period has not been closed.
  B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.
  C. Pending burden summarization items have not been processed.
  D. Unaccounted transactions are not imported.
  E. Unaccounted transactions have not been swept to the next period.
  B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.
  E. Unaccounted transactions have not been swept to the next period.

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  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record-accounting-for-project-billing.html#OAPJB340382 Topic-Accounting Period and Project Accounting Period Closing: How Validation Works

• Question 15:

  Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?

  A. Expenditure Types
  B. Project Templates
  C. Work Type
  D. Project Types
  E. Project Class Categories
  A. Expenditure Types
  B. Project Templates
  D. Project Types

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  Explanation/Reference:

  Rapid Implementation for Project Financial Management Applications allows you to configure some common setups for project costing and billing using predefined templates and spreadsheets. Some of the setups that can be configured using Rapid Implementation are expenditure types, project templates, and project types. Work types and project class categories are not part of Rapid Implementation. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2355871

• Question 16:

  You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works.

  Which two are correct statements in this scenario? (Choose two.)

  A. The association of a deliverable with a task is dependent on associating a requirement with a task.
  B. You associate a deliverable with a task independent of associating a requirement with a task.
  C. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
  D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
  B. You associate a deliverable with a task independent of associating a requirement with a task.
  D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.

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  Explanation/Reference:

  According to Oracle sources1, the inheritance between requirements, tasks, and deliverables works as follows:

  You can associate a deliverable with a task independent of associating a requirement with a task. You can also associate a deliverable with a requirement independent of associating a task with a requirement1. A deliverable associated with a

  requirement is not automatically associated with the tasks created for that requirement. You must manually associate the deliverable with the tasks that produce it1.

  Therefore, the correct answer is B and D.

  1: Can deliverables for projects and tasks be inherited from associated requirements?-docs.oracle.com (index 1)

  In Oracle Project Management, you can define requirements, tasks, and deliverables for your project based on your project methodology and lifecycle. Requirements are statements of needs or expectations that must be met by the project outcome. Tasks are units of work that must be performed to complete the project. Deliverables are products or services that are produced or provided as part of a task or requirement. Two correct statements about how the inheritance between requirements, tasks, and deliverables works are: You associate a deliverable with a task independent of associating a requirement with a task. This means that you can create a deliverable for a task regardless of whether the task is linked to a requirement or not. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. This means that you have to manually associate a deliverable with a task even if both the deliverable and the task are linked to the same requirement.

• Question 17:

  You have defined two expenditure types, but they are not available for selection when you enter an expenditure batch. Identify the reason for this problem. (Choose the best answer .)

  A. The two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed.
  B. The two expenditure types are not assigned to the reference data set that is assigned to the project-owning organization in which the transaction is performed.
  C. The two expenditure types are not assigned to the reference data set that is assigned to the project expenditure organization in which the transaction is performed.
  D. The two expenditure types are not assigned to the reference data set that is assigned to the business unit in which the transaction is performed.
  A. The two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed.

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  Explanation/Reference:

  Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf (19A Part # F11256-01) Chapter 3 ?Define Project Organizations Topic-Set Assignments and Project Data ?How They Work Together (Page 29) Business Unit as Set Determinant Business units enable you to control and report on financial transactions, usually for specific geographical entities within the enterprise. For project management purposes, assign the Project Accounting business function to the business unit. Business unit is a set determinant for the project-related reference data objects described in the following table. Ref Data Object Entities

  Project Accounting Definition Project Types Project Rates Project rate schedules

  Project Unit as Set Determinant Use project units to enforce consistent project management practices across your enterprise. Project unit is a set determinant for the reference data objects described in the following table. Ref Data Object Entities

  Project Definition Class codes, financial plan types, project plan types and project roles Project Transaction Types Expenditure types and work types You can only select class codes, plan types, roles, expenditure types and work types that are assigned to the same set as the project unit. To enable expenditure types and work types for use on projects owned by a project unit, assign the set associated with the Project Transaction Types reference data object to those entities

• Question 18:

  Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)

  A. Receipt Accounting
  B. Payables
  C. Fixed Asset
  D. Purchasing
  A. Receipt Accounting
  B. Payables
  D. Purchasing

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  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-costing-configuration-define-project-costing-integrations.html#OAPFM3094605 Topic-Deriving Projects-Related Accounts

• Question 19:

  Which two statements are true about the cross-charge method, Borrowed and Lent?

  A. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.
  B. Costs or revenue are shared based on transfer price rules with this method.
  C. You must set up the contract business unit to use this method.
  D. This method creates a formal internal invoice.
  A. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.
  B. Costs or revenue are shared based on transfer price rules with this method.

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  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost-transactions.html#OAPJC284872 What's a borrowed and lent processing method?

  A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from the provider organization to the receiver organization within a legal entity. An internal invoice isn't created but costs

  or revenue are shared based on the transfer price rules. This method provides a financial view of the performance of an organization.

• Question 20:

  Identify the attribute of a project type that determines if expenditure items are billable , and the amount type to be used as the basis for transfer pricing. (Choose the best answer.)

  A. work type
  B. event type
  C. cost type
  D. expenditure type
  A. work type

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  Explanation/Reference:

  Reference

  https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM11 25277 (what's a work type?)

  In billing, you can use work types to classify work for the following purposes:

  To determine the default billable status of expenditure items. To classify cross-charge amounts into cost and revenue for cross-charge transactions.

  Tip: To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item to Yes. When you create or import expenditure items, the default work type is inherited from

  the associated task. Tasks, in turn, inherit work type values from parent tasks and ultimately from the project. Project types determine the default work type value for projects and project templates.