Online Access Free 1Z1-511 Practice Test

Your organization has configured employee rate schedules. Which three schedules can utilize employee rate schedules when delivering a project?

• A.Job rate schedules
• B.Bill rate schedules
• C.Planning schedules
• D.Cost rate schedules
• E.Resource class rate schedules

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.Createa transaction control for specificagreement types to ensure thatadvance paymentsare received.
• D.Fund the projects with a dummy agreement.
• E.Entera negative agreement value andfunded amount.

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.Move all the costs toan contract task within the capital project.
• B.Leave the project as capital and accruefor revenueasis.
• C.Delete all the expenditure Items and change the project type.
• D.Change the project type to Contract
• E.A new project should be set up and costs transferred.

After receiving supplier costs from the Oracle Payables Supplier Invoices transaction source vow customer wants to perform adjustments in Oracle Projects. Which three setups should exist?

• A.AutoAccounting for Supplier Cost Credit Account
• B.Project/Task level Transaction Controls
• C.TransactionSource enabled for Adjustments
• D.Default Supplier Cost Credit Account under project implementation options
• E.AutoAccountingfor Supplier Invoice Cost Account

A company generates revenue at period end, but bills monthly in arrears. The first project revenue is due to be recognized at the end of May and the first invoice sent to the customer in June. What are the accounting entries at the end of May?

• A.Debit: BankCredit: Revenue
• B.Debit: Cost of Goods SoldCredit: Unbilled Receivables
• C.Debit:UnbilledReceivablesCredit: Revenue
• D.Debit: Unearned RevenueCredit: Revenue
• E.Debit: RevenueCredit: Accounts PayableLiability Account