1Z1-511 Exam Training Practice Tests (Oracle E-Business Suite R12 Project Essentials)]

Question 1

A project has been mistakenly set up as a capital project, instead of a contract project. The project has already incurred expenditure. How can this be remedied?

A. Leave the project as capital and accruefor revenueasis. B. Move all the costs toan contract task within the capital project. C. Change the project type to Contract D. Delete all the expenditure Items and change the project type. E. A new project should be set up and costs transferred.

Correct Answer: E

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Question 2

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

Correct Answer: B,E

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Question 3

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

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

Correct Answer: A,B,E

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Question 4

A company generates revenue at period end, but bills monthly in advance. The customer is invoiced in April with project starting in May and the first project is due to be recognized at the end of May. What are the accounting entries at the end of May?

A. Debit:ReceivableCredit: Unearned Revenue B. Debit: Unearned RevenueCredit: Revenue C. Debit: Cost of Goods SoldCredit: Unbilled Receivables D. Debit: BankCredit: Revenue E. Debit:ReceivableCredit:Bank

Correct Answer: A

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Question 5

You have defined a Non-Labor resource "Mini Truck" with an expenditure type "Vehicle" that has a rate of $100. This resource is attached to three Non-Labor resource organizations: "Construction-East," "Construction-West," and "Construction-Central."
How do you set up a rate of $150 for usage charges when the "Mini Truck" owned by "Construction-Central" is charged to a project?

A. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to"Construction-Central." B. In the Non-Labor resources setup, select the"Construction-Central"organization and enter a rate of $150. C. In the Project setup, enter a rate of $150 for"Construction-Central"in the organization overrides. D. Write custom code in Non-Labor cost override extension. E. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to the project.

Correct Answer: A

Question 6

An organization has specific departments that manage capital projects. How would you ensure that only these departments own capital projects?

A. Use the Project/Task owning organization hierarchy in the implementation options. B. Set up a separate organization hierarchy for the departments that are managing capital projects. C. Use the transaction control Functionality at the project level. D. Remove the asset definition options from the templates used by departments that arenot managing capital projects. E. Use the settings in "Additional Details" of the Project/Task owning organization classification.

Correct Answer: E

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Question 7

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

Correct Answer: A,B,E

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Oracle E-Business Suite R12 Project Essentials - 1Z1-511 Exam Practice Test