Online Access Free 1Z0-511 Practice Test

Your customer has set up a contract project with a distribution rule Work/Work. Identify three setup options to:
- Charge labortransactions revenue and all othernonlabortransactionsrevenue to separate accounts
- Generate separate invoice lineamountsforlaborand nonlabortransactions

• A.Setup revenue categories as required.
• B.Definerevenue accountsatthe revenue category setup level.
• C.Define AutoAccounting rules to derive revenue account based on revenue category.
• D.Definegrouping option byrevenuecategoryon the invoice format and attach the invoice format at the project type level.
• E.Define grouping option by revenue category on the project type.

A company requires advance payments for their contract projects. How would they ensure that for specific types of work they always have an advance payment?

• A.Set the customer profilein Accounts Receivable to require advance payments.
• B.Create a specific agreement type and use the advance receipts required extension toensure that theseagreements require advancepayments.
• C.Entera negative agreement value andfunded amount.
• D.Fund the projects with a dummy agreement.
• E.Createa transaction control for specificagreement types to ensure thatadvance paymentsare received.

Your company has set up the burdening functionality to capture the overheads incurred on all projects. They have decided to store these overhead costs as a separate expenditure item on the same project and also charge it to a separate expense account. Which step would you perform to set up the required expense account?

• A.Setup the accountat the expenditure typedefined for the Burden transaction.
• B.Set up the accountatthe expenditure category defined for the Burden transaction.
• C.Set up the Burden Cost Account AutoAccounting function.
• D.Set up the BurdenCostClearing Account AutoAccountingfunction.
• E.Setupthe Total Burdened Cost Credit AutoAccounting function.

A new contract project is created for work for a customer by using event-based billing. A decision has been made to give a discount to the customer on a particular invoice. You want to apply this discount and reduce the invoice without affecting revenue.
Which event type should be used to achieve this?

• A.Deferred Revenue
• B.Invoice Reduction
• C.Automatic
• D.Manual
• E.ScheduledPayment

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

• A.It is used in the determination of currency exchange rates.
• B.It is thedefault calendar assigned to resource requirements for the project.
• C.It isthedefault calendar for the automatic generation of cost forecasts in Financial Plans.
• D.It is used by date-dependent system workflows.
• E.It is the default calendar used for determining accounting periods.