1Z0-511 Online Practice Questions and Answers

Correct Answer: C

Correct Answer: A

Note: *Oracle Projects processes tasks based on their position in the structure. The three distinct positions are: Top Task: A task whose parent is the project Mid Task: A task that is not a top task or a lowest task Lowest Task: A task that is at the bottom of the structure, without any child tasks

*You can configure transaction controls by the following: Expenditure Category Employee Expenditure Type Non-Labor Resource

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: B

One Customer, Multiple Agreements

Use multiple agreements when you have one customer, but a requirement to create a separate invoice for each top task.

You can use this method to accrue revenue cost-to-cost or impose hard or soft revenue limits by task, as well as automatically create separate invoices by task.

To create separate invoices by task, you must use a different agreement to fund each task. If you use more than one agreement for a single task, the agreements are used according to the precedence described earlier for projects.

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: E

Note:

* Payroll

*Time and Labor.

There are many reports within Oracle Time and Labor to gather data about timecards entered through self-service and to gather data about timecards that you have transferred to the professional forms timecard window.

Correct Answer: C

You can automatically create and baseline an Approved Revenue Budget for a project by checking the Baseline Funding without Budget check box in the Project Funding Inquiry window.

Note:Budget/Fund/Bill at Project or Top Task Level

You can create a revenue budget, funding source allocation and project agreement, and perform billing at either the project or the top task level. After you have created an allocation line at either level, you cannot change to another level. For example, if you have created a funding allocation for a top task, you cannot create another funding allocation for the same project without entering a top task.

Correct Answer: BC

B: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.

C:As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose

Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.

Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.

Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.

Specification: You enter a specification for the following field names:

Key Member:Select the project role type to use when creating the key member Classification:Select the class category to use when creating the classification Customer Name: Select the customer relationship to use when creating the project

customer Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.

Required: Choose whether you want to require entry for the Quick Entry field.

Correct Answer: B

Note: You must select Yes, even though you cannot create contract projects in Oracle Grants Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for awards. Oracle Grants Accounting uses an

underlying award project to process revenue and invoices.

The award project is a contract class project.

Correct Answer: ACE

C:View Accounting Details

With the integration to Oracle Subledger Accounting, you now have the option to define account derivation rules within Oracle Subledger Accounting that will replace the default accounts generated by the Oracle Projects AutoAccounting feature.

E:Account Generation Rules During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the system to continue using existing AutoAccounting rules without additional setup steps. You may choose to create your own accounting definitions using Accounting Method