Oracle E-Business Suite R12 Project Essentials Exam

Question 1

An organization posts project costs to the balance sheet as they are incurred. Each month they recognize project revenue on each project.
Select the option that ensures that costs are credited from the balance sheet and debited to profit and loss as revenue is recognized.

A. Use events for project revenue and use GL journals to carry outthe relevant account postings.

B. Usemiscellaneoustransactions to generate revenue with the appropriate AutoAccountingdefinition.

C. Implement a projectrevenue extensionwithappropriate event types and AutoAccountingdefinition.

D. Use preapproved batches with a class type of "Work in Process" to generate revenue withthe appropriate AutoAccounting definition.

Correct Answer: C

Question 2

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. WhenAutoAccounting isincorrect and the Revenue interfacing to GeneralLedger needs to be puton hold.

C. When Revenuewas generated in errorforallprojects in Released status, and needs to becorrected.

D. When Financewants to reconcile Unbilled Receivables/Unearned Revenue

E. When Revenueis handled in Accounts Receivable

Correct Answer: A,E

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Question 3

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

A. Service Type

B. Work Type

C. Chargeable Flag

D. Scheduled Dates

E. Task Type

Correct Answer: A,C

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Question 4

Which types of rate schedules should be defined to allow rates to be used to generate financial plans?

A. Resource Class SchedulePlanning Rate ScheduleLabor Rates Schedule

B. Job Labor Rates ScheduleNon Labor Rate Schedule

C. ResourceClass SchedulePlanning Rate ScheduleNon LaborRates Schedule

D. Resource Class ScheduleLabor Rates ScheduleNon Labor Rate Schedule

Correct Answer: D

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Question 5

What type of project will a company require to use Organization Forecasting?

A. capital project

B. contract project

C. Administration Project

D. multi-function project

E. Organization Planning Project

Correct Answer: B

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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. Use Asset Lines Processing Extension.

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

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

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

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

Correct Answer: C

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Question 7

A project is enabled for Burdening by setting up a burden schedule at the project type level. A
Miscellaneous expenditure Item Is charged to the project with a raw cost of $100 and expenditure type "Overhead." The "Overheads" expenditure type is excluded from all cost bases in the burden structure.
What happens when the "PRC: Distribute usage and Miscellaneous Costs" program is run for this project?

A. The program errorswith the message "Missing Expenditure type."

B. The program completes successfully; Raw Cost = $100, Burden Cost=$0,TotalBurdened cost=$100.

C. Theprogram completes successfully; Raw Cost=$100, Burden Cost= $100,TotalBurdened cost=$100.

D. Theprogram completes successfully; Raw Cost =$100, Burden Cost=$0, Total Burdened cost= $0.

Correct Answer: C

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Oracle E-Business Suite R12 Project Essentials - 1Z1-511 Exam Practice Test

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