Oracle 1Z0-511 Online Practice Questions and Exam Preparation

Oracle 1Z0-511 Online Questions & Answers

• Question 51:

  An employee has entered eight hours of billable time on a project. You want only three hours to be billable and five hours to be nonbillable. What is the adjustment action that should be applied on this expenditure item?

  A. Transferthe item.
  B. Change the billable status.
  C. Split the item.
  D. Apply billing hold.
  E. Change quantity.
  C. Split the item.

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  You can split an item into two items so that you can process the two resulting split items differently. For example, you may have an item for 10 hours, of which you want 6 hours to be billable and 4 hours to be non-billable. You would split the item of 10 hours into two items of 6 hours and 4 hours, marking the 6 hours to be billable and 4 hours to be non-billable.

  The resulting split items are charged to the same project and task as the original item.

• Question 52:

  Your company has set up the burdening functionality to capture the overheads incurred on all projects. They have decided to store these overhead costs as a separate expenditure item on the same project and also charge it to a separate expense account. Which step would you perform to set up the required expense account?

  A. Setup the accountat the expenditure typedefined for the Burden transaction.
  B. Setupthe Total Burdened Cost Credit AutoAccounting function.
  C. Set up the Burden Cost Account AutoAccounting function.
  D. Set up the BurdenCostClearing Account AutoAccountingfunction.
  E. Set up the accountatthe expenditure category defined for the Burden transaction.
  A. Setup the accountat the expenditure typedefined for the Burden transaction.

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  Storing Burden Costs as a Separate Expenditure Item on the Same Project

  You can choose to hold the burden cost components as a separate expenditure item on the same project. The expenditure items storing the burden cost components are identified with a different expenditure type that is classified by the expenditure type class Burden Transaction.

• Question 53:

  A US-based company is providing resources to a UK subsidiary and has implemented Oracle Projects intercompany billing solutions. How would the US company create the Accounts Payable invoice in the UK operating unit?

  A. when the draft intercompany invoiceis approvedin the us Projects ledger
  B. when the draftintercompanyrevenue is approved in the US Projectsledger
  C. Invoice automatically createdas part of the PRC: Tieback Invoices fromReceivables in the USProject ledger
  D. when the draftintercompanyinvoice is released in the US Projects Ledger
  E. on creation ofthe Intercompany revenue in the US General Ledger
  C. Invoice automatically createdas part of the PRC: Tieback Invoices fromReceivables in the USProject ledger

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  The provider operating unit runs the process PRC: Tieback Invoices from Receivables, which automatically creates corresponding intercompany invoice supplier invoices ready to be interfaced to Oracle Payables in the receiver operating unit.

  Note:

  See step 6 below.

  Intercompany Billing Processing FlowIntercompany billing processing requires the following steps:

  The provider operating unit also imports project-related supplier costs from Oracle Purchasing and Oracle Payables and project-related expense report costs from Oracle Payables. Use Oracle Receivables to print the invoice as well as to

  create accounting for Oracle Subledger Accounting.

• Question 54:

  Identify the correct setup to Integrate Project costing with Oracle Inventory.

  A. In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project related transaction source in Oracle Inventory.
  B. Set up Oracle Project Manufacturing.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-relatedtransaction source in Oracle Inventory.
  C. In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-related transaction type in Oracle Inventory.
  D. Oracle Project Manufacturing must be set up.In Oracle Inventory, enable Project Cost Collection for each organization.Define the project-related transaction source inOracle Inventory
  C. In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-related transaction type in Oracle Inventory.

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  *Integrating Projects with Inventory without Project ManufacturingYou can implement Inventory to Projects integration so that you can issue from inventory to projects without installing Project Manufacturing. To implement this integration, follow these steps:

  *Oracle Inventory Integration

  The following stepsarerequired for Oracle Inventory integration:

• Question 55:

  You have set up a capital projects "Building Construction" with task "Block A." Which method should be used to capitalize the transactions charged to "Block A" with the expenditure type "Construction Costs" and expense the transactions charged to "Block A" with the expenditure type "Overheads"?

  A. In the Expenditure type setup, mark"Overheads"as Non-capitalizable.
  B. Set up transaction controls at the"Block A"task to make"Overheads"Non-capitalizabale.
  C. Define the"Block A"task as Non-capitalizable.
  D. Exclude"Overheads"from Capitalization in Asset assignments.
  E. Use Asset Lines Processing Extension.
  B. Set up transaction controls at the"Block A"task to make"Overheads"Non-capitalizabale.

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  Capitalizable to Non-Capitalizable or Non-Capitalizable to Capitalizable

  You can mark a capitalizable expenditure item as non-capitalizable, or vice versa. A capitalizable item can be grouped into an asset line you send to Oracle Assets. A non-capitalizable item cannot become an asset cost in Oracle Assets. You can define tasks as capitalizable or non-capitalizable; you can further specify which items are non- capitalizable using transaction controls.

• Question 56:

  Refer to the exhibit.

  

  In your company's Expenditure/Event Organization Hierarchy, organization labor costing rules are assigned to all organizations except San Jose. What happens when you run the "PRC: Distribute labor costs" program for a timecard transaction entered by an employee from the San Jose organization?

  A. Therule assignedfor SanFranciscotakes precedence and the transaction will hesuccessfully a distributed.
  B. The rule assigned for USA takes precedence and thetransaction will he successfully cost distributed.
  C. The rule assigned for California takes precedence and the transaction will be successfullycostdistributed.
  D. The program ignores this transaction, because no labor costing ruleis assigned for San Jose.andcompletesnormally.
  E. The program completes normally. However, the output will have this transaction under the exceptions sectionwith a message "No Labor costing rule assigned for organization."
  C. The rule assigned for California takes precedence and the transaction will be successfullycostdistributed.

• Question 57:

  A company generates revenue at period end, but bills monthly in arrears. The first project revenue is due to be recognized at the end of May and the first invoice sent to the customer in June. What are the accounting entries at the end of May?

  A. Debit: Cost of Goods SoldCredit: Unbilled Receivables
  B. Debit: BankCredit: Revenue
  C. Debit: Unearned RevenueCredit: Revenue
  D. Debit: RevenueCredit: Accounts PayableLiability Account
  E. Debit:UnbilledReceivablesCredit: Revenue
  E. Debit:UnbilledReceivablesCredit: Revenue

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  Revenue

  Once revenue is created, Oracle Projects runs AutoAccounting to determine the appropriate default accounts. AutoAccounting selects all of the AutoAccounting parameters for each item or event, determines the account coding, validates the account coding against the general ledger, and updates each revenue distribution line with the appropriate default account.

  AccountDebitCredit Unbilled Receivables and/or Unearned Revenue200.00 Revenue200.00

• Question 58:

  You have imported Labor transactions into Oracle Projects from Oracle Time and Labor by running the "PRC: Transaction Import" program.

  What is the correct sequence to run the concurrent programs listed below to transfer the cost and accounting entries of these transactions to General Ledger?

  1. PRC: Distribute Labor Cost 2.PRC: Transfer Journal Entries to GL 3.PRC: Create Accounting (with the Transfer to GL option set to "No") 4.PRC: Interface Labor Costs to GL 5.PRC: Generate Cost Accounting Events 6.PRC: Distribute and Interface tabor costs to GL

  A. 1, 3, 6
  B. 1, 5, 3, 4
  C. 1, 5, 3, 2
  D. 1, 2
  E. 3, 6
  C. 1, 5, 3, 2

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  The following activities take place as part of the expenditures process flow for labor costs:

  If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Oracle Projects derives using AutoAccounting.

• Question 59:

  Identify the four different levels where transaction controls are defined.

  A. Expenditure Categories
  B. Expenditure Organization
  C. Employee
  D. Project Organization
  E. Expenditure Type
  F. Person Type
  A. Expenditure Categories
  C. Employee
  D. Project Organization
  E. Expenditure Type

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  You can configure transaction controls by the following:

  (A)Expenditure Category (C)Employee (E)Expenditure Type Non-Labor Resource

• Question 60:

  Which three statements are correct about defining a cost budget for a project?

  A. You can enterbudget amount atthe project level, the top task level, or the lowest task level.
  B. Youcan enterbudget amount only at the lowest task level.
  C. You can enterbudget amountfora combination of lowest task and a labor resource.
  D. Youcan enterbudget amount only at the top task level.
  E. You can enterbudget amount for a combination of lowest task and a Non-Labor resource.
  F. You cannot enterbudget amount for a combination of lowest task and a Non-Labor resource.
  A. You can enterbudget amount atthe project level, the top task level, or the lowest task level.
  C. You can enterbudget amountfora combination of lowest task and a labor resource.
  F. You cannot enterbudget amount for a combination of lowest task and a Non-Labor resource.

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  A:You can budget at the project, top task, or lowest task level.

  Note:

  *When you create budgets and forecasts that do not use budgetary control and budget integration features, you can choose to enter budget and forecast amounts at any level of the financial structure by selecting one of the following lowest

  level planning level options:

  Project

  Top Task

  Lowest Task

  When you choose the Lowest Task option, you can enter amounts at all levels of the financial structure including top tasks, middle-level tasks, and lowest tasks. You can also enter amounts at multiple task levels within the same branch of the

  financial structure. Oracle Projects treats theamounts that you enter at each task level as incremental amounts that roll up into the total amounts for the project.