1Z0-511 Online Practice Questions and Answers

Correct Answer: A

Correct Answer: C

Note:

*Distribute Usage and Miscellaneous Costs

The process computes the costs and determines the default GL account to which to post the cost for expenditure items with the following expenditure type classes:

Usages

Burden Transactions

Miscellaneous Transactions

Inventory and WIP transactions not already costed or accounted

Correct Answer: A

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.

Correct Answer: C

*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:

Correct Answer: A

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.

Correct Answer: BCE

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).

Correct Answer: B

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.

Correct Answer: BCE

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.

Correct Answer: C

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.

Correct Answer: D