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2016 Jul 1Z0-511 answers

Q41. 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. 

Answer: D 


Q42. Identity three transactions that can be entered as a pre-approved expenditure batch: 

A. Burden 

B. Supplier Invoices 

C. Usages 

D. Expense Reports 

E. Miscellaneous 

Answer: A,D,E 

Explanation: Pre-approved expenditures are timecards, expense reports(D), usage logs, miscellaneous transactions(E), burden transactions(A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approvedexpenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution. 

Reference:Pre-Approved Expenditures 


Q43. A project manager would like to find out how much event revenue was accrued against a project up to and including a specific date. Where would this information be available? 

A. Events form within Project Status Inquiry 

B. Accrued revenue withinExpenditure Inquiry Form 

C. Revenue ReviewForm 

D. ReviewProjectFundingForm 

Answer: A 

Explanation: Project Status Inquiry 

You can quickly and easily review the current status of a project, and then drill down for a more detailed review of the project and its tasks. It enables you to search for a project using search criteria. You can review project, task, and resource summary amounts, and actual and commitment amounts using a different resource list. 

Oracle Projects maintains various levels of project summary amounts for cost, commitment, revenue, and budget amounts by project, task, and resource. You can review project summary amounts to quickly determine the status of a project, such as reviewing the current and originalbudgeted amounts and compare them to actual and commitment amounts. You can drill down to see summary amounts for the resources of the project or the selected task. You can select a resource list by which you want to view actuals and budgets. In addition, you can export project status inquiry data into an Excel spreadsheet for further analysis. 


Q44. 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. TransactionSource enabled for Adjustments 

C. Default Supplier Cost Credit Account under project implementation options 

D. Project/Task level Transaction Controls 

E. AutoAccountingfor Supplier Invoice Cost Account 

Answer: B,C,E 

Explanation: 

C:If you enable the Allow Adjustments option for a predefined transaction source for supplier costs, you must complete at least one of the following setup steps: 

/(C)Specify the default supplier cost credit account for supplier cost adjustments in Oracle Projects implementation options for each operating unit. 

/Define a rule in Oracle Subledger Accounting to determine the supplier cost credit account. 

This setup is required for the process PRC: Create Accounting to successfully create accounting for supplier cost adjustments. Oracle Projects displays a message asking you to validate the setup each time that you enable the Allow Adjustments option for a predefined transaction source for supplier costs.(B) 

E:You can adjust the supplier cost expenditure items in Oracle Projects to transfer or split the items. Oracle Projects processes these supplier invoice adjustments using the Supplier Invoice Cost Account AutoAccounting function. 

Reference:Oracle Projects Implementation Guide,Implementing Oracle Project Costing 


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Refresh 1Z0-511 free practice questions:

Q45. Which three types of People Resources does Oracle Projects support? 

A. Team Roles 

B. Straight Time 

C. Jobs 

D. Item 

E. Named Person 

Answer: A,C,E 

Explanation: 

Note: 

*People resources represent named persons or any grouping of named 

persons(E)by attributes such as job(C), organization, or role(A), whose time (effort) 

capacity is consumed to complete the project work. Example: Amy Marlin 


Q46. 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. When Revenueis handled in Accounts Receivable 

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

D. When Financewants to reconcile Unbilled Receivables/Unearned Revenue 

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

Answer: A,B 

Explanation: A: If the revenue amounts are already interfaced to General Ledger (GL) through a different interface, then uncheck the ‘Interface Revenue to GL’ option in the implementation options and run the ‘Interface Revenue to GL’ process in Oracle projects. This will turn the flags in the revenue records as accepted in GL, though it is not interfaced. Once this is done, revert back the implementation option back to its original state. 


Q47. 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 

Answer: C 

Explanation: The following activities take place as part of the expenditures process flow for labor costs: . Run the process PRC: Distribute Labor Costs..This process calculates the raw and burden cost components for labor cost expenditure items. It also uses AutoAccounting to determine the default debit account for each expenditure item. . Run the process PRC: Generate Cost Accounting Events..This process uses AutoAccounting to determine the default credit account for each expenditure item. It also generates accounting events for distributed transactions. You can optionally select.Labor Cost.as the process category to limit the process to labor costs. . Run the process PRC: Create Accounting..This process creates subledger journal entries for eligible accounting events. You can run the process in either draft or final mode. You can optionally select.Labor Cost.as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger. 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. 

. Run the process PRC: Transfer Journal Entries to GL..When you run the process PRC: Create Accounting, if you select No for the parameter Transfer to GL, then you run the process PRC: Transfer Journal Entries to GL to transfer the final subledger journal entries from Oracle Subledger Accounting to Oracle General Ledger. You can optionally select.Labor Cost.as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger. 

. Run Journal Import in Oracle General Ledger..(optional)This process brings the final accounting entries from Oracle Subledger Accounting into Oracle General Ledger. 

Reference:Oracle Projects Fundamentals,Expenditures Process Flow Example: Labor Cost 


Q48. Identify three adjustment actions that require submission of Distribute costs program to process the adjustments? 

A. Change Comment 

B. Release Hold 

C. Split 

D. Transfer E. Recalculate Revenue 

F. Capitalizable to Non-Capitalizable 

Answer: C,D,F 

Explanation: After you have performed the adjustment actions, you need to run the 

appropriate processes to process the adjustments. 

The table below notes what processes to run to process each adjustment action. 


Q49. What type of project will a company require to use Organization Forecasting? 

A. contract project 

B. Administration Project C. Organization Planning Project 

D. capital project 

E. multi-function project 

Answer: A 

Explanation: 

Note: 

*Compute Forecast Labor Revenue 

This process calculates the potential revenue of labor expenditure items based on established bill rates and markups. The expenditure items that the process selects are billable labor expenditure items charged to contract projects that have not yet been processed by the Generate Draft Revenue process. The items do not have to be approved to be processed for forecast revenue.