Oracle 1Z0-511 Online Practice Questions and Exam Preparation

Oracle 1Z0-511 Online Questions & Answers

• Question 11:

  A company requires advance payments for their contract projects. How would they ensure that for specific types of work they always have an advance payment?

  A. Create a specific agreement type and use the advance receipts required extension toensure that theseagreements require advancepayments.
  B. Set the customer profilein Accounts Receivable to require advance payments.
  C. Createa transaction control for specificagreement types to ensure thatadvance paymentsare received.
  D. Entera negative agreement value andfunded amount.
  E. Fund the projects with a dummy agreement.
  A. Create a specific agreement type and use the advance receipts required extension toensure that theseagreements require advancepayments.

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  Note:

  *You can set up an agreement to require advance payments by selecting the Advance Required on the agreement. You can also use the Advance Required client extension to determine which agreements require advance payments. On

  these agreements, you can enter funding only up to the amount of advance payments. The ability to change the Advance Required agreement option is controlled by function security.

  *Agreements with Advance Payments

  You can require advance payments on an agreement and record advance payments as they are made. When you generate draft invoices for projects that are funded by the agreement, the advance balance that is displayed on the funding

  summary is reduced. You then interface the invoice to Receivables. The AutoInvoice process in Oracle Receivables reduces the balance on the advance.

• Question 12:

  Identify two ways to ensure that correct class category codes are recorded against relevant projects.

  A. Define as single template that has the class category already defined.
  B. Define the class category as mandatory on relevant project types.
  C. Define the class category as mandatory In the quick entry of the relevant templates.
  D. Define a project status workflow that checks whether the class category is definedbeforechanging a project status.
  E. Includea"Not applicable" code in the class category definition.
  B. Define the class category as mandatory on relevant project types.
  C. Define the class category as mandatory In the quick entry of the relevant templates.

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  B:To define class categories and class codes:

  1.Navigate to the Class Categories and Codes window.

  2.Enter a unique Class Category name and a Description. 3.Specify whether the class category is mandatory for every project you define. Enable if all projects must have a code assigned to this class category. Do not enable if this class

  category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

  4.Specify whether you want to use the class category in your AutoAccounting rules. Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already

  exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one. 5.Specify whether you want to allow entry of only one class code with this class category for a project. Note:

  Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once. 6.Enter the Name, Description, and Effective Dates for

  each class code.

  7.Save your work.

  C:As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose

  Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.

  Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.

  Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.

  Specification: You enter a specification for the following field names:

  Key Member:Select the project role type to use when creating the key member Classification:Select the class category to use when creating the classification Customer Name: Select the customer relationship to use when creating the project

  customer Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.

  Required: Choose whether you want to require entry for the Quick Entry field.

• Question 13:

  The Finance Director is concerned that some of his or her project revenue may be overstated. What it should be reviewed to understand the revenue position on each project?

  A. the ProjectStatus Inquiry to review the project's margin figures
  B. the expenditure inquiry to understand the project's revenue position against the invoice position
  C. the Project Summary unbilled receivables and unearned revenue report, which will identifyallunearned revenue
  D. the revenue reviewform to inquire on the amount of revenue raised and invoices raised on aproject
  E. theinvoice review form to inquire on the amount of revenueraised and invoices raised on project
  C. the Project Summary unbilled receivables and unearned revenue report, which will identifyallunearned revenue

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  Summarize Unbilled Receivables / Unearned Revenue Balances The summarize unbilled receivables/unearned revenue balances process creates summary data required for running the UBR and UER reports. The process creates summary balances for draft revenue and draft invoices in Oracle Projects. The process summarizes amounts for draft revenues for which the process PRC: Generate Revenue Accounting Events has successfully generated events. The process summarizes amounts for draft invoices that have been transferred, imported, and successfully tied back to Oracle Receivables.

  The unbilled receivables and unearned revenue transactions are summarized by project, by account segment, cost center, and GL period, deriving the summary amounts used in the reports.

• Question 14:

  A project manager would like to find out how much event revenue was accrued against a project up to and including a specific date. Where would this information be available?

  A. Events form within Project Status Inquiry
  B. Accrued revenue withinExpenditure Inquiry Form
  C. Revenue ReviewForm
  D. ReviewProjectFundingForm
  A. Events form within Project Status Inquiry

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  Project Status Inquiry

  You can quickly and easily review the current status of a project, and then drill down for a more detailed review of the project and its tasks. It enables you to search for a project using search criteria. You can review project, task, and resource summary amounts, and actual and commitment amounts using a different resource list.

  Oracle Projects maintains various levels of project summary amounts for cost, commitment, revenue, and budget amounts by project, task, and resource. You can review project summary amounts to quickly determine the status of a project, such as reviewing the current and originalbudgeted amounts and compare them to actual and commitment amounts. You can drill down to see summary amounts for the resources of the project or the selected task. You can select a resource list by which you want to view actuals and budgets. In addition, you can export project status inquiry data into an Excel spreadsheet for further analysis.

• Question 15:

  A customer is using Oracle Payables and Oracle Projects. The customer has two suppliers set up with names X and Y, respectively. Supplier Y has been merged with Supplier X. The Supplier Merge Program is run from the Supplier Merge option in Oracle Payables and you have chosen to merge all transactions. What will happen to the supplier references on transactions related to Supplier Y that are already interfaced to Oracle Projects?

  A. The Supplier Merge Program does notimpact any supplier transactions that are already interfaced to Oracle Projects.
  B. The SupplierMerge Program completes with error,the merge is not possible because transactionsrelated to Supplier Y are already interfaced to Oracle Projects.
  C. The supplier references to Supplier Y will be modified to Supplier X for all transactions existing in Oracle Projects.
  D. The transactionsrelatedto Supplier X and Y will be deleted from Oracle Projects.
  E. The transactions related to Supplier Y will be deleted from Oracle Projects.
  C. The supplier references to Supplier Y will be modified to Supplier X for all transactions existing in Oracle Projects.

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  Note:

  *When you merge supplier information you have different options. You can choose to merge both invoices and purchase orders. If you choose to merge invoices, then you can merge all invoices or just unpaid invoices. When you choose to

  merge all invoices, any associated payments are merged as well.

  *Supplier Merge

  You can merge suppliers in Oracle Payables to maintain your supplier records. This functionality enables you to merge duplicate suppliers into a single, consolidated supplier. You can use it to merge transactions within the same supplier from

  one supplier site to a different supplier site. You can also choose to merge all transactions for a supplier into a new supplier, or you can choose to merge only unpaid invoices.

  The supplier merge program in Oracle Payables updates the supplier references on related transactions in Oracle Projects.

• Question 16:

  Which three types of People Resources does Oracle Projects support?

  A. Team Roles
  B. Straight Time
  C. Jobs
  D. Item
  E. Named Person
  A. Team Roles
  C. Jobs
  E. Named Person

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  Note:

  *People resources represent named persons or any grouping of named persons(E)by attributes such as job(C), organization, or role(A), whose time (effort) capacity is consumed to complete the project work. Example: Amy Marlin

• Question 17:

  Which three options would result in a billing event being excluded from an invoice?

  A. No taskisassigned to the event.
  B. No event date has been entered.
  C. The event dateis later than the invoice date when the process for draftinvoicegeneration issubmitted.
  D. The event has been placed on hold.
  E. No revenue amount has been entered on the event.
  B. No event date has been entered.
  C. The event dateis later than the invoice date when the process for draftinvoicegeneration issubmitted.
  E. No revenue amount has been entered on the event.

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  Note:

  *Events: To be included on an invoice, an event must meet the following criteria:

  /Event must not be already invoiced

  / (C)Event completion date must be on or before the bill through date

  /Event must be revenue distributed (for write-on revenue events only)

  /If the Date-Effective Funds Consumption option is selected, then the event date must be within the agreement start and expiration dates

  *Billing Events: Billing events are events for which there is no associated revenue. Because billing events have not accrued revenue against an agreement, a billing event can be billed against any agreement that has sufficient funding to

  cover the entire amount of the event (unless an agreement was specified on the event).

• Question 18:

  An organization wants to consolidate work based billing across multiple projects (produce one invoice for a single customer based on multiple contract projects). Which two methods will help them accomplish this?

  A. Create draft Invoices against individual projects, and consolidate them in Receivables.
  B. Create a program. All costs will roll up to the program level and the program can be billed.
  C. Run theinvoice consolidation concurrent request to produce a singleinvoice.
  D. Carry out billing against top tasks across any projects with the same ServiceType.
  E. Use inter-project billing so that individual contract projects invoice a single project which, in turn, bills the customer.
  A. Create draft Invoices against individual projects, and consolidate them in Receivables.
  C. Run theinvoice consolidation concurrent request to produce a singleinvoice.

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  C:Consolidated Invoicing allows you to consolidate multiple project invoices into one single invoice.

• Question 19:

  Which three statements are true about Multi-Currency Billing?

  A. Agreements, Events, and Bill Rates have to be in the same current as the Project Functional Currency.
  B. Agreements,Events, and Bill Rates can all be different currencies than the ProjectFunctionalCurrency.
  C. The Project Currency can be different from theFunctional Currency of the operating unitthat owns the project.
  D. The ProjectCurrency has tobe the same as the Functional Currency of the operating unit that owns the project.
  E. An agreementcan fund invoices in more than one currency.
  B. Agreements,Events, and Bill Rates can all be different currencies than the ProjectFunctionalCurrency.
  C. The Project Currency can be different from theFunctional Currency of the operating unitthat owns the project.
  E. An agreementcan fund invoices in more than one currency.

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  C:The multi-currency billing option can be set both at the operating unit level and at the project level. To enter agreements and rate schedules in any currency for a project, you must enable the multi- currency billing functionality for the

  operating unit. To enter events in any currency for a project, you can enable the functionality at the project level only. This value defaults from the project template You can override the default value for an individual project template or project.

  Note:

  Oracle Projects gives you the option to bill in a global environment when the multi-currency billing is enabled for an operating unit and for a project. When multi- currency billing is enabled, you can:

  *Enter agreements, bill rates, and events in any currency regardless of the project functional currency(B)

  *Designate the project functional currency, project currency, or funding currency as the invoice processing currency for a project *Designate the project functional currency and the invoice transaction currency as the revenue transaction

  currency

  *Define currency conversion attributes for converting revenue and invoicing amounts to the project currency, project functional currency, and funding currency

  *Define currency conversion attributes for converting funding amounts to the project functional currency, and the project currency

  *Define a default invoice currency for a project customer that is different from the project functional currency and assign conversion attributes for deriving revenue in this currency

• Question 20:

  A customer wants to make a new classification mandatory on all their new projects. Select the three options that could help them accomplish this.

  A. Define the classification as Mandatory in theClassification configuration.
  B. Define the classification as Mandatory in the Project Type configuration.
  C. Define the classification category to allow one code only.
  D. Define project status controls to disallow project status changes where classificationcategory codesare missing.
  E. Define theclassificationas Required on the appropriate project templates in the QuickEntry screen.
  A. Define the classification as Mandatory in theClassification configuration.

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  Note:

  *You define project classifications to group your projects according to categories you define. A project classification includes a class category and a class code. The category is a broad subject within which you can classify projects. The code

  is a specific value of the category.

  *(see step 3 below)Defining class categories and class codes

  To define class categories and class codes:

  1.Navigate to the Class Categories and Codes window.

  2.Enter a unique Class Category name and a Description. 3.Specify whether the class category is mandatory for every project you define. Enable if all projects must have a code assigned to this class category. Do not enable if this class

  category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

  4.Specify whether you want to use the class category in your AutoAccounting rules. Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already

  exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one. 5.Specify whether you want to allow entry of only one class code with this class category for a project. Note:

  Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once. 6.Enter the Name, Description, and Effective Dates for

  each class code.

  7.Save your work.