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Q1. Identity three transactions that can be entered as a pre-approved expenditure batch:
A. Burden
B. Supplier Invoices
C. Usages
D. Expense Reports
E. Miscellaneous
Answer: A,D,E
Explanation: Pre-approved expenditures are timecards, expense reports(D), usage logs, miscellaneous transactions(E), burden transactions(A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approvedexpenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution.
Reference:Pre-Approved Expenditures
Q2. In which two circumstances would it be appropriate to deselect the "Interface Revenue to GL" option in System Implementation Options, before you run the Interface to GC?
A. During data migration ifRevenue is already in General Ledger
B. When Revenueis handled in Accounts Receivable
C. WhenAutoAccounting isincorrect and the Revenue interfacing to GeneralLedger needs to be puton hold.
D. When Financewants to reconcile Unbilled Receivables/Unearned Revenue
E. When Revenuewas generated in errorforallprojects in Released status, and needs to becorrected.
Answer: A,B
Explanation: A: If the revenue amounts are already interfaced to General Ledger (GL) through a different interface, then uncheck the ‘Interface Revenue to GL’ option in the implementation options and run the ‘Interface Revenue to GL’ process in Oracle projects. This will turn the flags in the revenue records as accepted in GL, though it is not interfaced. Once this is done, revert back the implementation option back to its original state.
Q3. Your company has two separate expenditure types to capture straight time and overtime labor transactions across all projects. When running cost distribution for labor transactions, the straight time labor must be charged to a labor expense account and overtime labor costs to an overhead expense account. How would you set up two different expense accounts?
A. Set up the account at theExpendituretype definition.
B. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Account."
C. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Clearing Account."
D. Set up the account at the Expenditure type usage definition.
E. Set up the account at the Labor costing rule definition.
Answer: B
Explanation: Implement AutoAccounting to charge appropriate expense accounts
When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account.
To charge straight time and overtime to different accounts, you define an AutoAccounting
rule based on expenditure type, expenditure category, service type, compensation rule, or
labor cost multiplier.
Note:
*Labor Cost Account Function
When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor
cost amounts based upon employee labor cost rates and compensation rules. After
calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit
an expense account for raw labor costs.
*You need to define at least one overtime expenditure type. You use the Expenditure
Types window to define overtime expenditure types classified by the Overtime expenditure
type class.
Q4. Identify three adjustment actions that require submission of Distribute costs program to process the adjustments?
A. Change Comment
B. Release Hold
C. Split
D. Transfer E. Recalculate Revenue
F. Capitalizable to Non-Capitalizable
Answer: C,D,F
Explanation: After you have performed the adjustment actions, you need to run the
appropriate processes to process the adjustments.
The table below notes what processes to run to process each adjustment action.
Q5. An organization uses Oracle Projects and has fully installed Oracle Human Resources. Which statement does not apply to this scenario?
A. Employees can be entered and maintainedin Oracle Projects.
B. Jobs can be setup in Oracle Projects.
C. Organizations can be defined In Oracle Projects.
D. Organization Hierarchiescan be defined in Oracle Projects.
E. WorkerAssignments can be viewed in Oracle Projects.
Answer: D
Explanation:
Note:
*Oracle Projects fully integrates with Oracle Human Resources to keep track of employees
and information relevant to them, such as bill rates and mailing address.
Q6. What must be defined to enable a company to use an organization for a straight time expenditure?
A. Define the organization with the Following:
1. Add Cost Centreas the Organization type.
2. Add an organization classification ofHR Organization.
3. Add the organizationto anorganization hierarchy.
B. Define the organization with the Following:
1. Add the organization classifications HR Organization and ProjectExpenditure/Event
2.Add the organization to anorganizationhierarchy
3. Add the organization hierarchy to the appropriate Oracleprojectimplementation option setting
C. Define the organization with the following:
1.Add the organization classificationsProject/Task Owning Organization and
ProjectExpenditure/Event Organization.
2. Add the organization to an organization hierarchy.
3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
D. Define the organization with the following:
1. Add the organization classifications Project Expenditure/Event Organization.
2. Add the organization to an organization hierarchy.
3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
E. Define the organization with the Following:
1. Add the organization classifications HR Organization and ProjectExpenditure/Event
2. Add the organization to an organization hierarchy.
3. Define Organization Labor Costing Rules.
Answer: E
Explanation:
Note:
*You can set this at the Inventory Organization level in the Project Manufacturing
Parameters window, the Costing tabbed region. This allows WIP employee resources and
Project straight time hours to be summarized as Straight Time Expenditure Type Class.
*expenditure type class
An additional classification for expenditure types that indicates how Oracle Projects processes the expenditure types. For example, if you run the Distribute Labor Costs process, OracleProjects will calculate the cost of all expenditure items assigned to the
Straight Time expenditure type class. Formerly known as system linkage
Q7. Your organization has configured employee rate schedules. Which three schedules can utilize employee rate schedules when delivering a project?
A. Job rate schedules
B. Planning schedules
C. Cost rate schedules
D. Bill rate schedules
E. Resource class rate schedules
Answer: B,C,D
Explanation: You can use rates to calculate amounts for costing, billing, and workplan and financial planning. Oracle Projects determines rates from a combination of rate schedules and rate overrides. You can define the following four types of rate schedules in Oracle Projects:
*Employee: Use this type of rate schedule to define standard hourly rates or percentage markups by employee. You can use employee rate schedules as planning schedules(B), cost rate schedules(C), and bill rate schedules(D).
* Job: Use this type of rate schedule to define standard hourly rates by job title. When you enter a job-based rate schedule, you enter a job group to indicate which jobs are used to determine rates. You can use job schedules as planning rate schedules, cost rate schedules, and bill rate schedules.
* Resource Class : Use this type of rate schedule to define planning rates by resource
class, or as a combination of resource class and organization. *Nonlabor: Use this type of rate schedule to define rates or percentage markups by nonlabor expenditure type or a combination of nonlabor expenditure type and nonlabor resource. You can use nonlabor rate schedules as planning rate schedules, cost rate schedules, and bill rate schedules.
Reference:Rate Schedule
Q8. 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
Answer: A,C,D,E
Explanation: You can configure transaction controls by the following:
(A)Expenditure Category (C)Employee (E)Expenditure Type Non-Labor Resource
Q9. 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. Change the project type to Contract
B. Leave the project as capital and accruefor revenueasis.
C. Move all the costs toan contract task within the capital project.
D. A new project should be set up and costs transferred.
E. Delete all the expenditure Items and change the project type.
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
Q10. The Profile option "PA: Cross Project User-Update" is set to "Yes" for a Projects module user. Which two statements apply?
A. The use must be named as a Key Member on a project to be able to see Summary Labor Costs.
B. The userwill be able to update projects across all Operating Units.
C. The userwill be able to update only the projects belonging to the same Operating Unit to which theuser belongs.
D. Theuserview SummaryLaborCosts forall projects.
E. The user must alsohave Organization Authority forall Operating Units to updateall projects.
Answer: B,E
Explanation: PA: Cross Project User - Update: Enables users to update all project information. This applies only to the operating units the responsibility has access to through the MO: Operating Unit profile option or the MO: Security Profile profile option.
Note:.Users whose responsibilities are associated with a cross business group access security profile can view and update project and resource information across all business groups in your enterprise.
Reference: Oracle Projects Fundamentals, Responsibility-Based Security