Question 1

You are setting up an AutoAccounting rule and trying to use "Class Code" as the parameter for that rule. Which setup must exist in order to use "Class Code" as one of the parameters?

Accepted Answer

A

Explanation: * AutoAccounting Parameter: Class Code AutoAccounting class code on the project. Note: Since you can define many project classification categories, the Class Code parameter always corresponds to the one classification category that you specified as the AutoAccounting classification category. Reference: Oracle Projects Implementation Guide

Question 2

Which statement is true about the use of the calendar assigned to a project?

Accepted Answer

C

Explanation: When you implement Oracle Projects, you can select the calendar used to maintain PA periods. PA Period Type Specify a Period Type, which is used to copy Project Accounting Periods from the calendar associated with the ledger. If you copy PA Periods from GL, Oracle Projects copies all of the periods of this Period Type to set up the PA Periods. In a multiple organization environment, the PA Period Type is specified for each operating unit. Reference: Oracle Projects Implementation Guide, Implementation Options

Question 3

Refer to the exhibit. https://kxbjsyuhceggsyvxdkof.supabase.co/storage/v1/object/public/file-images/1Z0-511/page_3_img_1.jpg 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?

Accepted Answer

C

Question 4

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?

Accepted Answer

D

Explanation: Note: * Project Type The project type determines how Oracle Projects processes costs (expenditure items) for a project. The type you choose provides many defaults and controls for project entry and processing. You must choose a type from one of the following project type classes: / Use an Indirect project type to collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid & proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays / Use a Capital project type to collect and track costs and labor hours for asset development activities which you plan to capitalize as one or more assets. / Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client

Question 5

Which project class type can include revenue budgets?

Accepted Answer

C

Explanation: Note: * Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue budget for a contract project before it can accrue revenue and be billed.

Question 6

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

Accepted Answer

B

Explanation: 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. Reference: Oracle Projects Implementation Guide

Question 7

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?

Accepted Answer

D

Explanation: 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. Reference: Oracle Project Billing User Guide, Releasing Invoices

Question 8

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?

Accepted Answer

B, C, E

Explanation: 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. Reference: Oracle Projects Implementation Guide, Implementing Oracle Project Costing

Question 9

Which two options are not task attributes for financial task structure?

Accepted Answer

B, D

Explanation: Incorrect: Not A: Task types assign default attributes to tasks and control how Oracle Projects processes tasks. Task types specify basic task attributes. Not C: Work types represent a classification of work. You use work types to classify both actual and scheduled work. Not E: Oracle Projects uses start and finish dates to control processing, indicate estimated and scheduled duration, and serve as tools to evaluate project performance. The start and finish dates at the project level are: Actual: Actual dates when work on the project started and finished. You can use these dates to drive future timecard and earned value functionality. (not E) Scheduled: Scheduled start and finish dates for the project. Target: The expected lifespan of the project. Estimated: A task manager's estimate of when work on the project will be started and finished. Baseline: The baselined schedule

Question 10

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?

Accepted Answer

D

Question 11

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

Accepted Answer

A

Explanation: 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. Reference: Project Classifications (Class Categories and Class Codes)

Question 12

A new contract project is created for work for a customer by using event-based billing. A decision has
been made to give a discount to the customer on a particular invoice. You want to apply this discount
and reduce the invoice without affecting revenue. Which event type should be used to achieve this?

Accepted Answer

D

Explanation: Event Type Classification is: Scheduled Payment, Deferred Revenue, Invoice Reduction, Manual, or Automatic (for billing events only)

Question 13

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

Accepted Answer

C

Explanation: The following activities take place as part of the expenditures process flow for labor costs: 1. Run the process PRC: Distribute Labor Costs. This process calculates the raw and burden cost components for labor cost expenditure items. It also uses AutoAccounting to determine the default debit account for each expenditure item. 2. Run the process PRC: Generate Cost Accounting Events. This process uses AutoAccounting to determine the default credit account for each expenditure item. It also generates accounting events for distributed transactions. You can optionally select Labor Cost as the process category to limit the process to labor costs. 3. Run the process PRC: Create Accounting. This process creates subledger journal entries for eligible accounting events. You can run the process in either draft or final mode. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger. 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. 4. Run the process PRC: Transfer Journal Entries to GL. When you run the process PRC: Create Accounting, if you select No for the parameter Transfer to GL, then you run the process PRC: Transfer Journal Entries to GL to transfer the final subledger journal entries from Oracle Subledger Accounting to Oracle General Ledger. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger. 5. Run Journal Import in Oracle General Ledger. (optional) This process brings the final accounting entries from Oracle Subledger Accounting into Oracle General Ledger. Reference: Oracle Projects Fundamentals, Expenditures Process Flow Example: Labor Cost

Question 14

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?

Accepted Answer

A

Explanation: 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 15

A client requires a project definition that allows for charging expenditures to the project at a higher
Work Breakdown Structure level than where the manually entered percentage complete progress is
captured. Which three Shared Structure relationships will support this requirement?

Accepted Answer

A, B, D

Explanation: Structure Integration Setup If you enable both a workplan structure and a financial structure for your project or project template, you can decide whether or not they are integrated, and if so, to what degree. You do this by choosing one of the following options on the Structures setup page: * Shared Structures: Enables you to generate a financial structure with a task hierarchy that is fully shared by the workplan structure task hierarchy. Workplan and financial structures are fully shared by default. * Partially Shared Structures: Enables you to generate a financial structure that is partially shared by the workplan structure hierarchy. * Non-Shared: Task-Based Mapping: Enables you to map individual workplan structure tasks to individual financial structure tasks. * Non-Shared: No Mapping: Choose this if you do not want to integrate your project workplan and financial structures in any way. Reference: Oracle Projects Fundamentals

Free Oracle 1Z0-511 Actual Exam Questions