Oracle E-Business Suite R12 Project Essentials Exam (1Z0-511) Free Practice Test

Question 1

Which three options would result in a billing event being excluded from an invoice?

A. No taskisassigned to the event.

B. No event date has been entered.

C. No revenue amount has been entered on the event.

D. The event has been placed on hold.

E. The event dateis later than the invoice date when the process for draftinvoicegeneration issubmitted.

Correct Answer: B,C,E

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Question 2

A customer needs to enable all employees to enter timecards through the web against projects and tasks. What needs to be implemented to allow time to be recorded in Projects?

A. OracleTime andLaborPayrollPurchasing

B. Project CostingOracleTime andLaborHuman Resources

C. Projects Resource ManagementOracleTime and LaborHuman Resources

D. Project CostingOracle Time and LaborHuman ResourcesPayroll

E. Project CostingProject ManufacturingHuman Resources

Correct Answer: D

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Question 3

A customer has gone into bankruptcy and is unable to pay their bills. This means that the project revenue is now overstated. How can the customer reduce the revenue on the project to accurately reflect the amount of collectable revenue?

A. Create a revenue write-off event forthe uncollectable element andinterface to General Ledger.

B. Entera transaction control against the expendituretypes and regenerate the draft invoice.

C. Createa credit memo in Oracle Projects and interface to Accounts Receivable.

D. Createacost adjustment on the project using preapproved batches.

E. Create a negative funding line and assign to the project thus reducing its revenue.

Correct Answer: A

Question 4

Identify three adjustment actions that require submission of Distribute costs program to process the adjustments?

A. Recalculate Revenue

B. Capitalizable to Non-Capitalizable

C. Change Comment

D. Split

E. Transfer

F. Release Hold

Correct Answer: B,D,E

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Question 5

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. Create draft Invoices against individual projects, and consolidate them in Receivables.

B. Carry out billing against top tasks across any projects with the same ServiceType.

C. Use inter-project billing so that individual contract projects invoice a single project which, in turn, bills the customer.

D. Run theinvoice consolidation concurrent request to produce a singleinvoice.

E. Create a program. All costs will roll up to the program level and the program can be billed.

Correct Answer: A,D

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Question 6

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. Define the"Block A"task as Non-capitalizable.

B. Use Asset Lines Processing Extension.

C. In the Expenditure type setup, mark"Overheads"as Non-capitalizable.

D. Set up transaction controls at the"Block A"task to make"Overheads"Non-capitalizabale.

E. Exclude"Overheads"from Capitalization in Asset assignments.

Correct Answer: D

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Question 7

The Finance Director is concerned that some of his or her project revenue may be overstated. What it should be reviewed to understand the revenue position on each project?

A. theinvoice review form to inquire on the amount of revenueraised and invoices raised on project

B. the Project Summary unbilled receivables and unearned revenue report, which will identifyallunearned revenue

C. the revenue reviewform to inquire on the amount of revenue raised and invoices raised on aproject

D. the ProjectStatus Inquiry to review the project's margin figures

E. the expenditure inquiry to understand the project's revenue position against the invoice position

Correct Answer: B

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Oracle E-Business Suite R12 Project Essentials (1Z0-511) Free Practice Test