Master Oracle 1Z0-511 Exam with Reliable Practice Questions
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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?
Correct : A
Note:
* You can set up an agreement to require advance payments by selecting the Advance required on the agreement. You can also use the Advance Required client extension to determine which agreements require advance payments. On these agreements, you can enter funding only up to the amount of advance payments.
The ability to change the Advance Required agreement option is controlled by function security.
* Agreements with Advance Payments
You can require advance payments on an agreement and record advance payments as they are made. When you generate draft invoices for projects that are funded by the agreement, the advance balance that is displayed on the funding summary is reduced. You then interface the invoice to Receivables. The AutoInvoice process in Oracle Receivables reduces the balance on the advance.
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A customer enables transaction controls at the Project level. Oracle Project Costing checks the control when the customer ________.
Correct : E
Expenditure Item Validation
When you enter expenditure items, you are charging cost to a project and a task. Oracle Projects validates expenditure items against predefined criteria and any transaction controls and transaction control client extensions that you set up during the implementation.
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You have set up a capital projects "Building Construction" with task "Block A." Which method should be used to capitalize the transactions charged to "Block A" with the expenditure type "Construction Costs" and expense the transactions charged to "Block A" with the expenditure type "Overheads"?
Correct : B
Capitalizable to Non-Capitalizable or Non-Capitalizable to Capitalizable
You can mark a capitalizable expenditure item as non-capitalizable, or vice versa. A capitalizable item can be grouped into an asset line you send to Oracle Assets. A non-capitalizable item cannot become an asset cost in Oracle Assets.
You can define tasks as capitalizable or non-capitalizable; you can further specify which items are non-capitalizable using transaction controls.
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A company has different organization requirements for HR, Payroll, Finance, and Projects. How can the company achieve this?
Correct : C
Note:
* Organization hierarchies provide a structure for the relationships between the organizations within your enterprise. They enable you to manage expenditure and reporting data and coordinate project-owning organizations. If your organization uses business groups, you can create project burdening organization hierarchies for each business group.
You define an organization hierarchy by telling Oracle Projects which organizations are subordinate to which other organizations. You can define one organization hierarchy or several, depending on the needs of your enterprise.
* The organizations and organization hierarchies of an enterprise are closely interrelated with the policies and procedures of that enterprise. To configure Oracle Projects to meet your business requirements, you must make critical implementation decisions regarding how you set up your organizations in Oracle Projects.
Organizations are departments, sections, divisions, companies, or other organizational units in your enterprise. You can gather collections of organizations into organization hierarchies. Organization hierarchies make it easier to manage expenditure and reporting data and coordinate the project-owning organizations within your enterprise.
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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?
Correct : D
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