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QUESTION NO:19
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
Answer: C
Explanation:
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.
Reference:
Oracle Project Costing User Guide,Cross Charge
QUESTION NO:1
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.
Answer: A, C, D
Explanation:
Note:
Revenue and Billing Information
When you enter revenue information for your project, you specify a revenue
distribution rule for the revenue accrual method and the billing method for this
project. When you enter billing information, you specify invoice formats, bill
cycle days, and other invoicing information.
The project type determines which revenue distribution rule appears as the
default value for this field, and which other revenue distribution rules you can
choose from. Oracle Projects predefines the following revenue distribution
rules:
Cost/CostAccrue revenue and bill using the ratio of actual cost to budgeted
cost (percent spent). Cost/EventAccrue revenue using the ratio of actual cost
to budgeted cost (percent spent), and bill based on events.
Cost/WorkAccrue revenue using the ratio of actual cost to budgeted cost
(percent spent), and bill as work occurs.
Event/EventAccrue revenue and bill based on events. Event/WorkAccrue
revenue based on events, and bill as work occurs. Work/EventAccrue revenue
as work occurs, and bill based on events. Work/WorkAccrue revenue and bill
as work occurs.
QUESTION NO:28
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: Cost of Goods SoldCredit: Unbilled Receivables
B. Debit: BankCredit: Revenue
C. Debit: Unearned RevenueCredit: Revenue
D. Debit: RevenueCredit: Accounts PayableLiability Account
E. Debit:UnbilledReceivablesCredit: Revenue
Answer: E
Explanation:
Revenue
Once revenue is created, Oracle Projects runs AutoAccounting to determine
the appropriate default accounts. AutoAccounting selects all of the
AutoAccounting parameters for each item or event, determines the account
coding, validates the account coding against the general ledger, and updates
each revenue distribution line with the appropriate default account.
AccountDebitCredit
Unbilled Receivables and/or Unearned Revenue200.00
Revenue200.00
QUESTION NO:55
In a manufacturing company, there is a need to define 50 different jobs for
engineers in Human Resources. For those 50 jobs, Oracle Projects has only 20
equivalent jobs for Billing. What functionality do you use to link these Human
Resources and Projects jobs?
A. Job Groups
B. Job Families
C. Job Mapping
D. JobLevels
E. Job Hierarchy
Answer: A
Explanation:
Organizations within your enterprise are not required to use the same job
definitions. You can define job groups for specific purposes and define unique
jobs for each group. You can then map a job from one group to a job in
another group. For example, the job titles you need for your European
operating units may be different from the job titles you need for your U.S.
operating units. For global projects you can define a global job set and map
your European and U.S. jobs to the appropriate global jobs. These global jobs
can then be used by your global projects to provide accurate and consistent
billing and reporting.
Reference:
Oracle Projects Fundamentals,Jobs Overview
QUESTION NO:63
The Finance Director is concerned that some of his or her project revenue may
be overstated. What it should be reviewed to understand the revenue position
on each project?
A. the ProjectStatus Inquiry to review the project\’s margin figures
B. the expenditure inquiry to understand the project\’s revenue position against
the invoice position
C. the Project Summary unbilled receivables and unearned revenue report,
which will identifyallunearned revenue
D. the revenue reviewform to inquire on the amount of revenue raised and
invoices raised on aproject
E. theinvoice review form to inquire on the amount of revenueraised and
invoices raised on project
Answer: C
Explanation:
Summarize Unbilled Receivables / Unearned Revenue Balances
The summarize unbilled receivables/unearned revenue balances process
creates summary data required for running the UBR and UER reports. The
process creates summary balances for draft revenue and draft invoices in
Oracle Projects. The process summarizes amounts for draft revenues for
which the process PRC: Generate Revenue Accounting Events has
successfully generated events. The process summarizes amounts for draft
invoices that have been transferred, imported, and successfully tied back to
Oracle Receivables. The unbilled receivables and unearned revenue
transactions are summarized by project, by account segment, cost center, and
GL period, deriving the summary amounts used in the reports.
QUESTION NO:53
You implement Project Manufacturing along with Project Costing for
manufacturing company. You define various expenditure types in which few
are specific to Project Manufacturing. Identify the three setups that are
required to have an expenditure type specific to Project Manufacturing.
A. Rate Required is enabled for theExpenditureType.
B. “Work In Process” class is associated with the Expenditure Type.
C. “Miscellaneous transactions” classis associated with the Expenditure Type.
D. “Inventory” class is associated with the ExpenditureType.
E. Rate Required Is not enabled for the Expenditure Type.
Answer: A, B, D
Explanation:
B:Work In Process – This expenditure type class is used for Project
Manufacturing WIP transactions that are interfaced from Manufacturing to
Oracle Projects. You can also use this expenditure type class when you import
other manufacturing costs via Transaction Import or when you enter
transactions via pre-approved batch entry.
D:Inventory -This expenditure type class is used for the following
transactions:
Project Manufacturing transactions that are interfaced from Manufacturing or
Inventory to Oracle
Projects.
Oracle Inventory Issues and Receipts that are interfaced from Oracle
Inventory to Oracle Projects in a manufacturing or non-manufacturing
installation.
You can also use this expenditure type class when you import other
manufacturing costs via
Transaction Import or when you enter transactions via pre-approved batch
entry.
Note:
*If the Rate Required option for the selected expenditure type is enabled in
Oracle Projects, then you must enter a quantity. When you interface the
invoice distribution toOracle Projects, Oracle Projects copies the quantity and
amount to the expenditure item and calculates the rate. If Rate
Required option for the selected expenditure type is disabled, then the quantity
of the expenditure item is set to the amount you enter in Oracle Payables.
QUESTION NO:39
A customer is using Oracle Payables and Oracle Projects. The customer has
two suppliers set up with names X and Y, respectively. Supplier Y has been
merged with Supplier X. The Supplier Merge Program is run from the
Supplier Merge option in Oracle Payables and you have chosen to merge all
transactions. What will happen to the supplier references on transactions
related to Supplier Y that are already interfaced to Oracle Projects?
A. The Supplier Merge Program does notimpact any supplier transactions that
are already interfaced to Oracle Projects.
B. The SupplierMerge Program completes with error,the merge is not possible
because transactionsrelated to Supplier Y are already interfaced to Oracle
Projects.
C. The supplier references to Supplier Y will be modified to Supplier X for all
transactions existing in Oracle Projects.
D. The transactionsrelatedto Supplier X and Y will be deleted from Oracle
Projects.
E. The transactions related to Supplier Y will be deleted from Oracle Projects.
Answer: C
Explanation:
Note:
*When you merge supplier information you have different options. You can
choose to merge both invoices and purchase orders. If you choose to merge
invoices, then you can merge all invoices or just unpaid invoices. When you
choose to merge all invoices, any associated payments are merged as well.
*Supplier Merge
You can merge suppliers in Oracle Payables to maintain your supplier records.
This functionality enables you to merge duplicate suppliers into a single,
consolidated supplier. You can use it to merge transactions within the same
supplier from one supplier site to a different supplier site. You can also choose
to merge all transactions for a supplier into a new supplier, or you can choose
to merge only unpaid invoices.
The supplier merge program in Oracle Payables updates the supplier
references on related transactions in Oracle Projects.
QUESTION NO:8
An organization uses Oracle Projects and has fully installed Oracle Human
Resources. Which statement does not apply to this scenario?
A. Employees can be entered and maintainedin Oracle Projects.
B. Jobs can be setup in Oracle Projects.
C. Organizations can be defined In Oracle Projects.
D. Organization Hierarchiescan be defined in Oracle Projects.
E. WorkerAssignments can be viewed in Oracle Projects.
Answer: D
Explanation:
Note:
*Oracle Projects fully integrates with Oracle Human Resources to keep track
of employees and information relevant to them, such as bill rates and mailing
address.
QUESTION NO:20
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
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