oracle 1z0-511 practice test

Oracle E-Business Suite R12 Project Essentials Exam

Question 1

A customer requires budgetary Integration with General Ledger for what will function as an
Approved Cost budget. The customer also wants project managers to maintain cost budgets
derived from the Staffing Plan maintained in the workplan. Which budgeting approach will support
this requirement?

  • A. Forms based "Approved Cost" budget and Forms based "Staffing Plan" budget.
  • B. Financial Plan-based "Approved Cost" budget and Financial Plan-based "Staffing Plan" budget
  • C. Forms-based "Approved Cost" budget and financial Plan-based "Staffing Plan" budget
  • D. Financial Plan-based "Approved Cost" budget and Forms-based "Staffing Plan" budget


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Question 2

A customer is planning to upgrade from 11/to R12 to use Subledger Accounting (SLA). Identify the
three options available to the customer.

  • A. Configure SLA without using the existing AutoAccounting setup. SLA generates accounting combinations without AutoAccounting.
  • B. Continue to use the existing AutoAccounting setup. SLA uses the default flexfield values generated by AutoAccounting.
  • C. Define alternative accounting rules in SLA to overwrite the default values provided by AutoAccounting.
  • D. Use the existing AutoAccounting setup at the point of upgrade. Evaluate the benefits of SLA and migrate to SLA when and if beneficial.
  • E. Use the existing AutoAccounting setup only. SLA is not applicable to Projects because Oracle Projects has AutoAccounting.

A, C, E

C: View Accounting Details
With the integration to Oracle Subledger Accounting, you now have the option to define account
derivation rules within Oracle Subledger Accounting that will replace the default accounts generated
by the Oracle Projects AutoAccounting feature.
E: Account Generation Rules
During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the
system to continue using existing AutoAccounting rules without additional setup steps. You may
choose to create your own accounting definitions using Accounting Method

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Question 3

An organization has specific departments that manage capital projects. How would you ensure that
only these departments own capital projects?

  • A. Use the transaction control Functionality at the project level.
  • B. Use the settings in "Additional Details" of the Project/Task owning organization classification.
  • C. Remove the asset definition options from the templates used by departments that are not managing capital projects.
  • D. Use the Project/Task owning organization hierarchy in the implementation options.
  • E. Set up a separate organization hierarchy for the departments that are managing capital projects.


1. If you enable the Project Task Owning Organization classification, you must also specify the
additional organization information for the classification as follows:
a. Place your cursor on the Project Task Owning Organization classification.
b. Select the Others button.
c. In the Additional Organization Information window, place your cursor in the Project Type Class
Information field.
d. In the Project Type Class Information window, enter information for the following fields:

Allow Entry Of Indirect Projects: Select Yes from if you want this organization to own indirect

Allow Entry of Capital Projects: Select Yes from if you want this organization to own capital

Allow Entry of Contract Projects: You must select Yes.
Note: You must select Yes, even though you cannot create contract projects in Oracle Grants
Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for
awards. Oracle Grants Accounting uses an underlying award project to process revenue and invoices.
The award project is a contract class project.
e. In the Project Type Class Information window, select the OK button.
f. In the Additional Organization Information window, select the OK button.
g. In the Forms dialog box that asks you if you want to save the changes you have made, select the
Yes button to save your work.
Reference: Oracle Grants Accounting User Guide, Entering Organization Classifications

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Question 4

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 within Expenditure Inquiry Form
  • C. Revenue Review Form
  • D. Review Project Funding Form


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 original
budgeted 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.

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Question 5

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

  • A. It is the default calendar assigned to resource requirements for the project.
  • B. It is the default 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.


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.
Reference: Oracle Projects Implementation Guide, Implementation Options

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Question 6

Which project class type can include revenue budgets?

  • A. Capital
  • B. Indirect
  • C. Contract
  • D. Capital and Indirect
  • E. Capital and Contract


* Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose
to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue
budget for a contract project before it can accrue revenue and be billed.

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Question 7

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

B, C, E

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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Question 8

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 Project Status 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 identify all unearned revenue
  • D. the revenue review form to inquire on the amount of revenue raised and invoices raised on a project
  • E. the invoice review form to inquire on the amount of revenue raised and invoices raised on project


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.

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Question 9

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 separate agreement and funding for $20k.
  • B. Update the existing agreement value to $120k and add an additional funding line against the project for $20k.
  • C. Update the cost budget to $l20k.
  • D. Create a manual invoice in Accounts Receivable for the additional value.
  • E. Update any existing transactions to allow billing to the new amount.


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Question 10

Identify two ways to ensure that correct class category codes are recorded against relevant projects.

  • A. Define as single template that has the class category already defined.
  • B. Define the class category as mandatory on relevant project types.
  • C. Define the class category as mandatory In the quick entry of the relevant templates.
  • D. Define a project status workflow that checks whether the class category is defined before changing a project status.
  • E. Include a "Not applicable" code in the class category definition.

B, C

B: To define class categories and class codes:
1. Navigate to the Class Categories and Codes window.
2. Enter a unique Class Category name and a Description.
3. Specify whether the class category is mandatory for every project you define.
Enable if all projects must have a code assigned to this class category. Do not enable if this class
category is optional. If you do not enable this option, you cannot use this class category in your
AutoAccounting rules.
4. Specify whether you want to use the class category in your AutoAccounting rules.
Suggestion: For each project, you can use only one code with one class category for use with
AutoAccounting rules. If an AutoAccounting category already exists within a particular date range,
assign an end date to the existing AutoAccounting category and then create a new one.
5. Specify whether you want to allow entry of only one class code with this class category for a
Note: Defining multiple class codes for one category for a project may affect reporting by class
category; defining multiple class codes may cause your numbers to be included more than once.
6. Enter the Name, Description, and Effective Dates for each class code.
7. Save your work.
C: As part of a project template definition setup, you can choose which Quick Entry fields you want to
define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create
a new project from a template. Choose Quick Entry fields for project information you want to enter
(instead of accepting the template default) each time you create a project.
Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.
Field name: Choose the fields you want to appear in the Quick Entry window when you create a new
Specification: You enter a specification for the following field names:
Key Member: Select the project role type to use when creating the key member
Classification: Select the class category to use when creating the classification
Customer Name: Select the customer relationship to use when creating the project customer
Prompt: You can enter a field name that is different from the predefined field name to display when
you use Quick Entry.
Required: Choose whether you want to require entry for the Quick Entry field.

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