Oracle 1Z0-511 Online Practice Questions and Exam Preparation

Oracle 1Z0-511 Online Questions & Answers

• Question 31:

  What must be defined to enable a company to use an organization for a straight time expenditure?

  A. Define the organization with the Following:1. Add Cost Centreas the Organization type.2. Add an organization classification ofHR Organization.3. Add the organizationto anorganization hierarchy.
  B. Define the organization with the Following:1. Add the organization classifications HR Organization and ProjectExpenditure/Event2.Add the organization to anorganizationhierarchy3. Add the organization hierarchy to the appropriate Oracleprojectimplementation option setting
  C. Define the organization with the following:1.Add the organization classificationsProject/Task Owning Organization and ProjectExpenditure/Event Organization.2. Add the organization to an organization hierarchy.3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
  D. Define the organization with the following:1. Add the organization classifications Project Expenditure/Event Organization.2. Add the organization to an organization hierarchy.3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
  E. Define the organization with the Following:1. Add the organization classifications HR Organization and ProjectExpenditure/Event2. Add the organization to an organization hierarchy.3. Define Organization Labor Costing Rules.
  E. Define the organization with the Following:1. Add the organization classifications HR Organization and ProjectExpenditure/Event2. Add the organization to an organization hierarchy.3. Define Organization Labor Costing Rules.

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  Note: *You can set this at the Inventory Organization level in the Project Manufacturing Parameters window, the Costing tabbed region. This allows WIP employee resources and Project straight time hours to be summarized as Straight Time Expenditure Type Class. *expenditure type class An additional classification for expenditure types that indicates how Oracle Projects processes the expenditure types. For example, if you run the Distribute Labor Costs process, OracleProjects will calculate the cost of all expenditure items assigned to the Straight Time expenditure type class. Formerly known as system linkage

• Question 32:

  A company is using Project Billing. To meet their billing requirements, the company has Set up various revenue categories. Identify four places where the company can use these revenue categories in Oracle Project.

  A. Setting upTransaction Controls using Revenue Categories.
  B. GroupingExpenditureTypes by RevenueCategories.
  C. GroupingEventTypeRevenue Categories.
  D. Defining Rate Schedules using Revenue Categories.
  E. Setting up AutoAccountingRules using Revenue Categories.
  F. EnteringBudgets using RevenueCategories.
  B. GroupingExpenditureTypes by RevenueCategories.
  C. GroupingEventTypeRevenue Categories.
  E. Setting up AutoAccountingRules using Revenue Categories.
  F. EnteringBudgets using RevenueCategories.

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  Revenue categories are used for grouping expenditure types(B)and event types(C)for revenue and billing You can use revenue categories for budgeting(F), for reporting purposes, and in your AutoAccounting rules(E). Revenue Categories

  are also used for grouping expenditure types for revenue and billing(B).

  Note:

  *A revenue category describes a source of your organization's revenue. For example, a revenue category with a name such as Labor refers to labor revenue.

• Question 33:

  You define assets for your project and assign them at the project or task level. What should be the value of "Project Asset Type" to generate asset lines?

  A. Estimated
  B. As Built
  C. Generate
  D. Built
  E. Regenerate
  B. As Built

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  Note:

  *Project Asset Type

  This field identifies whether an asset represents an Estimated or complete, As-Built capital asset, or a Retirement Adjustment asset.

  *We have a Capital Projects, Every month end we want generate asset lines and send to FA as CIP asset lines againest the project asset.Once project is completed then all the Asset lines will capitalize in FA .

  When we want to generate asset lines, we have to give the Date in Service and Project asset Type as "Built". after generating the asset line we cant change the Date in service in oracle projects

  If we have given the Project Asset type as " Estimated" then i cant generate asset lines.

  *Project Asset Type

  When you copy an asset, Oracle Projects copies the asset with the same project asset type. For estimated assets, you can optionally copy the asset as an as-built asset.

• Question 34:

  You implement Project Manufacturing along with Project Costing for manufacturing company. You define various expenditure types in which few are specific to Project Manufacturing. Identify the three setups that are required to have an expenditure type specific to Project Manufacturing.

  A. Rate Required is enabled for theExpenditureType.
  B. "Work In Process" class is associated with the Expenditure Type.
  C. "Miscellaneous transactions" classis associated with the Expenditure Type.
  D. "Inventory" class is associated with the ExpenditureType.
  E. Rate Required Is not enabled for the Expenditure Type.
  A. Rate Required is enabled for theExpenditureType.
  B. "Work In Process" class is associated with the Expenditure Type.
  D. "Inventory" class is associated with the ExpenditureType.

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  B:Work In Process - This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects. You can also use this expenditure type class when you import other manufacturing

  costs via Transaction Import or when you enter transactions via pre-approved batch entry.

  D:Inventory - This expenditure type class is used for the following transactions:

  Project Manufacturing transactions that are interfaced from Manufacturing or Inventory to Oracle Projects. Oracle Inventory Issues and Receipts that are interfaced from Oracle Inventory to Oracle Projects in a manufacturing or non-

  manufacturing installation. You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.

  Note:

  *If the Rate Required option for the selected expenditure type is enabled in Oracle Projects, then you must enter a quantity. When you interface the invoice distribution toOracle Projects, Oracle Projects copies the quantity and amount to the

  expenditure item and calculates the rate. If Rate Required option for the selected expenditure type is disabled, then the quantity of the expenditure item is set to the amount you enter in Oracle Payables.

• Question 35:

  A project manager wants to create a revenue budget based on the project agreement and allocated funding. How can this be achieved?

  A. by manually creatingarevenue budget
  B. by selecting Funding revaluation in the systemimplementation options.
  C. by selecting the "baseline project without budget" option, which will createa revenue budgetautomatically based on project funding
  D. by selecting Invoiceat top taskfor the project
  E. by setting transaction controls
  C. by selecting the "baseline project without budget" option, which will createa revenue budgetautomatically based on project funding

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  You can automatically create and baseline an Approved Revenue Budget for a project by checking the Baseline Funding without Budget check box in the Project Funding Inquiry window.

  Note:Budget/Fund/Bill at Project or Top Task Level

  You can create a revenue budget, funding source allocation and project agreement, and perform billing at either the project or the top task level. After you have created an allocation line at either level, you cannot change to another level. For example, if you have created a funding allocation for a top task, you cannot create another funding allocation for the same project without entering a top task.

• Question 36:

  After receiving supplier costs from the Oracle Payables Supplier Invoices transaction source vow customer wants to perform adjustments in Oracle Projects. Which three setups should exist?

  A. AutoAccounting for Supplier Cost Credit Account
  B. TransactionSource enabled for Adjustments
  C. Default Supplier Cost Credit Account under project implementation options
  D. Project/Task level Transaction Controls
  E. AutoAccountingfor Supplier Invoice Cost Account
  B. TransactionSource enabled for Adjustments
  C. Default Supplier Cost Credit Account under project implementation options
  E. AutoAccountingfor Supplier Invoice Cost Account

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  C:If you enable the Allow Adjustments option for a predefined transaction source for supplier costs, you must complete at least one of the following setup steps:

  /(C)Specify the default supplier cost credit account for supplier cost adjustments in Oracle Projects implementation options for each operating unit.

  /Define a rule in Oracle Subledger Accounting to determine the supplier cost credit account.

  This setup is required for the process PRC: Create Accounting to successfully create accounting for supplier cost adjustments. Oracle Projects displays a message asking you to validate the setup each time that you enable the Allow

  Adjustments option for a predefined transaction source for supplier costs.(B)

  E:You can adjust the supplier cost expenditure items in Oracle Projects to transfer or split the items. Oracle Projects processes these supplier invoice adjustments using the Supplier Invoice Cost Account AutoAccounting function.

• Question 37:

  A customer is billed using deliverable billing events, which are currently approved by the customer and the finance director before invoicing. There are often invoices awaiting the finance director's approval and release. The Finance director

  would like to use functionality that allows all invoices to be approved and released automatically.

  How can this be achieved?

  A. Use deliverable managementto automatically approve the invoice.
  B. Implement the cost-to-cost billing extension.
  C. Implement the costaccrual and project status inquiry extension.
  D. Implement theinvoice approval/release extension.
  E. Set the "Interface unreleased revenue to GL" profile option to "Yes."
  D. Implement theinvoice approval/release extension.

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  The Automatic Invoice Approve/Release Extension allows you to release invoices automatically as part of the Generate Draft Invoice process.

  Incorrect:

  Not E:

  Generating Revenue Accounting Events

  After you generate and release the revenue, you run the concurrent program PRC: Generate Revenue Accounting Events. The concurrent program determines default unearned revenue and unbilled receivables accounts using

  AutoAccounting and generates accounting events for Oracle Subledger Accounting. Note: If you set the profile option PA: Interface Unreleased Revenue to GL to yes, then Oracle Projects automatically releases any unreleased revenue when

  you run the concurrent program PRC: Generate Revenue Accounting Events.

• Question 38:

  A customer is planning to upgrade from 11/to R12 to use Subledger Accounting (SLA). Identify the three options available to the customer.

  A. Configure SLA without using the existing AutoAccountingsetup.SLAgenerates accountingcombinations without AutoAccounting.
  B. Continue to use the existing AutoAccounting setup. SLAuses the default flexfield valuesgenerated byAutoAccounting.
  C. Define alternative accounting rulesin SLA to overwrite the defaultvalues provided byAutoAccounting.
  D. Use the existingAutoAccountingsetup at the point of upgrade. Evaluate the benefits ofSLA and migrate to SLA when and if beneficial.
  E. Use the existingAutoAccountingsetup only. SLA is not applicable to Projects because Oracle Projects hasAutoAccounting.
  A. Configure SLA without using the existing AutoAccountingsetup.SLAgenerates accountingcombinations without AutoAccounting.
  C. Define alternative accounting rulesin SLA to overwrite the defaultvalues provided byAutoAccounting.
  E. Use the existingAutoAccountingsetup only. SLA is not applicable to Projects because Oracle Projects hasAutoAccounting.

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  C:View Accounting Details

  With the integration to Oracle Subledger Accounting, you now have the option to define account derivation rules within Oracle Subledger Accounting that will replace the default accounts generated by the Oracle Projects AutoAccounting feature.

  E:Account Generation Rules During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the system to continue using existing AutoAccounting rules without additional setup steps. You may choose to create your own accounting definitions using Accounting Method

• Question 39:

  Identity three transactions that can be entered as a pre-approved expenditure batch:

  A. Burden
  B. Supplier Invoices
  C. Usages
  D. Expense Reports
  E. Miscellaneous
  A. Burden
  D. Expense Reports
  E. Miscellaneous

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  Pre-approved expenditures are timecards, expense reports(D), usage logs, miscellaneous transactions(E), burden transactions(A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approvedexpenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution.

• Question 40:

  A company has multi-currency projects and tasks. What is the hierarchy in which the currency attributes are allocated to a transaction?

  A. Project,Task
  B. Implementation Options, Project,Task
  C. Task,Project, Implementation Options
  D. Task,Implementation Options, Project
  B. Implementation Options, Project,Task

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  Note:

  Setting up Multi-Currency Transactions

  To set up your system to process multi-currency transactions, perform the following steps:

  *Implementation Options

  Use the Currency Implementation Options to control the default values for currency attributes at the operating unit level. Oracle Projects uses the currency attributes to calculate currency exchange rates.

  See: Currency Implementation Options.

  *Currency

  For each project for which you want to process multi-currency transactions, set up the Currency options in the project and task options window. This option enables you to enter default currency attributes for a project. See: Currency, Oracle

  Projects Fundamentals.

  *Cross Charge

  You can use the Cross Charge Options to specify whether the project can accept charges from other operating units. See: Cross Charge Setup, Oracle Projects Fundamentals.

  *Task Currency and Cross Charge Options

  *You can use the Task Currency and Cross Charge Options to override the costing currency conversion attributes and cross charge options in a lowest task. See:

  Currency, Oracle Projects Fundamentals and Cross Charge Setup, Oracle Projects Fundamentals. *Transaction Entry and Transaction Import During Transaction Entry and Transaction Import, you can override the project and task currency attributes. See: Entering Expenditures, Oracle Project Billing User Guide and Currency Conversion Attributes for Imported Transactions, Oracle

  Projects APIs, Client Extensions, and Open Interfaces Reference.