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Question 1:

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

Correct Answer: ACDE

You can configure transaction controls by the following:

(A)Expenditure Category (C)Employee (E)Expenditure Type Non-Labor Resource


Question 2:

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/Event2.Add the organization to anorganizationhierarchy3. 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/Event2. Add the organization to an organization hierarchy.3. Define Organization Labor Costing Rules.

Correct Answer: E

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


Question 3:

A US-based company is providing resources to a UK subsidiary and has implemented Oracle Projects intercompany billing solutions. How would the US company create the Accounts Payable invoice in the UK operating unit?

A. when the draft intercompany invoiceis approvedin the us Projects ledger

B. when the draftintercompanyrevenue is approved in the US Projectsledger

C. Invoice automatically createdas part of the PRC: Tieback Invoices fromReceivables in the USProject ledger

D. when the draftintercompanyinvoice is released in the US Projects Ledger

E. on creation ofthe Intercompany revenue in the US General Ledger

Correct Answer: C

The provider operating unit runs the process PRC: Tieback Invoices from Receivables, which automatically creates corresponding intercompany invoice supplier invoices ready to be interfaced to Oracle Payables in the receiver operating unit.

Note:

See step 6 below.

Intercompany Billing Processing FlowIntercompany billing processing requires the following steps:

The provider operating unit also imports project-related supplier costs from Oracle Purchasing and Oracle Payables and project-related expense report costs from Oracle Payables. Use Oracle Receivables to print the invoice as well as to

create accounting for Oracle Subledger Accounting.


Question 4:

You have defined a Non-Labor resource “Mini Truck” with an expenditure type “Vehicle” that has a rate of $100. This resource is attached to three Non-Labor resource organizations: “Construction-East,” “Construction-West,” and “Construction-Central.”

How do you set up a rate of $150 for usage charges when the “Mini Truck” owned by “Construction- Central” is charged to a project?

A. In the Project setup, enter a rate of $150 for”Construction-Central”in the organization overrides.

B. In the Non-Labor resources setup, select the”Construction-Central”organization and enter a rate of $150.

C. Create a new rate schedule with a rate of $150 for”Mini Truck”and attach it to the project.

D. Create a new rate schedule with a rate of $150 for”Mini Truck”and attach it to”Construction- Central.”

E. Write custom code in Non-Labor cost override extension.

Correct Answer: D


Question 5:

An employee has entered eight hours of billable time on a project. You want only three hours to be billable and five hours to be nonbillable. What is the adjustment action that should be applied on this expenditure item?

A. Transferthe item.

B. Change the billable status.

C. Split the item.

D. Apply billing hold.

E. Change quantity.

Correct Answer: C

You can split an item into two items so that you can process the two resulting split items differently. For example, you may have an item for 10 hours, of which you want 6 hours to be billable and 4 hours to be non-billable. You would split the item of 10 hours into two items of 6 hours and 4 hours, marking the 6 hours to be billable and 4 hours to be non-billable.

The resulting split items are charged to the same project and task as the original item.


Question 6:

Identify three transactions for which Oracle Project Costing enforces budgetary controls.

A. project-related purchase requisitions and purchase orders entered in Oracle Purchasing

B. expense reports entered In Oracle iExpenses

C. supplier invoices entered in Oracle Payables

D. contingent worker purchase orders entered in Oracle Purchasing

E. employee timecards entered in Oracle Time and Labor

Correct Answer: ACD

Note:

*Enable Budgetary Controls and Encumbrance Accounting

To use budgetary controls, you must implement budgetary control and encumbrance accounting for the ledger in Oracle General Ledger and enable encumbrance accounting in Oracle Payables or Oracle Purchasing.Encumbrance

accounting automatically creates encumbrances for requisitions, purchase orders, and invoices.

*PSA: Budgetary Control Report Template

This profile option can be set at the site, application, responsibility, and user levels. You must select Budgetary Control Results Template as the value for this profile option to enable users to view funds check results from Oracle Purchasing

and Oracle Payables after a funds check.


Question 7:

You have imported Labor transactions into Oracle Projects from Oracle Time and Labor by running the “PRC: Transaction Import” program.

What is the correct sequence to run the concurrent programs listed below to transfer the cost and accounting entries of these transactions to General Ledger?

1. PRC: Distribute Labor Cost 2.PRC: Transfer Journal Entries to GL 3.PRC: Create Accounting (with the Transfer to GL option set to “No”) 4.PRC: Interface Labor Costs to GL 5.PRC: Generate Cost Accounting Events 6.PRC: Distribute and Interface tabor costs to GL

A. 1, 3, 6

B. 1, 5, 3, 4

C. 1, 5, 3, 2

D. 1, 2

E. 3, 6

Correct Answer: C

The following activities take place as part of the expenditures process flow for labor costs:

If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Oracle Projects derives using AutoAccounting.


Question 8:

Which three Project foundation setups are shared across Operating Units in a multi-organization setup?

A. Project Classifications categories

B. ProjectTypes

C. Project Templates

D. Project numbers

E. ExpenditureTypes

Correct Answer: ABE

A:Project Classifications (Class Categories and Class Codes)

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.

B:In a multi-organization environment, you must set up project types for each operating unit. It is possible to have the same project type names in multiple operating units. However, each project type has it own attributes to control project processing by operating unit.

E:In a multi-organization environment, expenditure types are set up once and are shared across all operating units.


Question 9:

Which three statements are correct about defining a cost budget for a project?

A. You can enterbudget amount atthe project level, the top task level, or the lowest task level.

B. Youcan enterbudget amount only at the lowest task level.

C. You can enterbudget amountfora combination of lowest task and a labor resource.

D. Youcan enterbudget amount only at the top task level.

E. You can enterbudget amount for a combination of lowest task and a Non-Labor resource.

F. You cannot enterbudget amount for a combination of lowest task and a Non-Labor resource.

Correct Answer: ACF

A:You can budget at the project, top task, or lowest task level.

Note:

*When you create budgets and forecasts that do not use budgetary control and budget integration features, you can choose to enter budget and forecast amounts at any level of the financial structure by selecting one of the following lowest

level planning level options:

Project

Top Task

Lowest Task

When you choose the Lowest Task option, you can enter amounts at all levels of the financial structure including top tasks, middle-level tasks, and lowest tasks. You can also enter amounts at multiple task levels within the same branch of the

financial structure. Oracle Projects treats theamounts that you enter at each task level as incremental amounts that roll up into the total amounts for the project.


Question 10:

A project manager wants to create a revenue budget based on the project agreement and allocated funding. How can this be achieved?

A. by manually creatingarevenue budget

B. by selecting Funding revaluation in the systemimplementation options.

C. by selecting the “baseline project without budget” option, which will createa revenue budgetautomatically based on project funding

D. by selecting Invoiceat top taskfor the project

E. by setting transaction controls

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.


Question 11:

A customer has provided a purchase order for $100k. The customer issues an additional $20k to the original purchase order. How would you invoice the total amount of $120k on only one invoice as per the terms of the contract?

A. Create a separateagreement and funding for $20k.

B. Update the existing agreement value to $120k and add an additionalfunding line against the project for $20k.

C. Update the cost budget to $l20k.

D. Createa manual invoice in Accounts Receivable for the additional value.

E. Update any existing transactionsto allow billing to the new amount.

Correct Answer: A


Question 12:

Which statement is true about the use of the calendar assigned to a project?

A. It is thedefault calendar assigned to resource requirements for the project.

B. It isthedefault calendar for the automatic generation of cost forecasts in Financial Plans.

C. It is the default calendar used for determining accounting periods.

D. It is used in the determination of currency exchange rates.

E. It is used by date-dependent system workflows.

Correct Answer: C

When you implement Oracle Projects, you can select the calendar used to maintain PA periods.

PA Period Type

Specify a Period Type, which is used to copy Project Accounting Periods from the calendar associated with the ledger. If you copy PA Periods from GL, Oracle Projects copies all of the periods of this Period Type to set up the PA Periods.

In a multiple organization environment, the PA Period Type is specified for each operating unit.