[Jan-2022] Latest Oracle 1Z0-1057-21 Certification Practice Test Questions
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NEW QUESTION 33
Which three features are part of Oracle Fusion Functional Setup Manager?
- A. export and import services for setup data migration between environments
- B. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements
- C. feature opt-in for a best fit configuration
- D. modifying an existing implementation project task list by selectingmore functional areas when needed
- E. guided task list for end-to-end setup requirements
Answer: A,C,E
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/oafsm/applications-cloud-using-funct Functional Setup Manager offers the following:
* Standardized application configuration and setup experience
*Feature opt-in for a best fit configuration
* Flexible processes for managing setup:
Setup by functional areas for an adopt-as-you-go approach
Implementation projects to manage setup
Upload file to enter setup data in bulk
*Guided task list for end-to-end setup requirements
*Export and import services for setup data migration between environments
* Comprehensive reporting on setup data
NEW QUESTION 34
You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem. (Choose two.)
- A. The organization is classified as a project unit.
- B. The organization isnot classified as a project expenditure organization.
- C. The organization is notclassified as a project-owning organization.
- D. The organization isnot included inthe organization treethat is assigned to the business unit that owns the PO.
Answer: B,D
Explanation:
Explanation
Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf Chapter 3 - Define Project Organizations Page # 12 Topic - Selecting Organization Hierarchies for the Business Unit The following conditions are required for an organization to be eligible to be a project expenditure organization:
* You must assign the Project Expenditure Organization classification to the organization.
* The organization must belong to the hierarchy that you specify in the project implementation options for the business unit.
NEW QUESTION 35
Your customer has implemented Oracle Project Portfolio Management Cloud recently and they have hired new employees for their Professions Services business. These employees are set up in Oracle Human Capital Management Cloud, but the Project Administrators are unable to add them as resources in the Planning Resource Breakdown Structure.
What are three conditions for new employees to show up in the list? (Choose three.)
- A. All new employees created as personsmust have an active assignment.
- B. Current date is before the effective date of the resource, and you did not enable the "Include people with future-dated effective start dates" option during the search.
- C. Allnew employees created as personsmust be assigned to a department.
- D. All new employees created as persons must have an active supervisor.
- E. All new employees created as persons must have an active project role.
Answer: A,B,C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configur Why can't I find persons in the list of resources when I enter team members, planning resources, or person rate schedules?
You can't find persons in the list of resources when you enter team members, planning resources, or person rate schedules in the following situations:
* The administrator didn't assign a while creating users. Persons must have an active assignment andbe assigned to a departmentin Oracle Fusion Human Capital Management before they canbe added as team members or entered as resources on the planning resource breakdown structure or person rate schedule.
* The resource isn't active in Oracle Fusion Human Capital Management because the current date is before the effective date of the resource.If you want to include persons who will start in the future, select the Include people with future-dated effective start dates option when you search for the person.
* Persons assigned as project managers aren't active as of the project start date.
* The assignment of the person is terminated, and an appropriate value isn't set for the number of days to display people with terminated assignments.You can set the profile value appropriately at the site profile level using the Specify Number of Days to DisplayPeople with Terminated Assignments task in the Setup and Maintenance work area.
NEW QUESTION 36
You haveprojects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that thesedistribution set lines are not validated against the project transaction controlsand you are allowed to save it without any validation errors. Identify the why the project transaction controls are not applied. ( Choose the best answer.)
- A. The account code combination is not available on the distribution set line.
- B. There is no expenditure type information available on the distribution set line.
- C. There is noexpenditure item dateinformation available on the distribution set line.
- D. There is no expenditure organization information available on the distribution set line.
Answer: C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapfm/project-costing-configuratio How canI validate distribution sets for projects information?
Oracle Fusion Projects performs validations on Oracle Fusion Payables distribution sets for payables invoices at the time you create the actual distribution set lines. It validates the project and tasknumber during the invoice validation.
Distribution sets are typically used on recurring transactions, and the associated project does not have transaction controls.When you create a distribution set in Oracle Fusion Payables, the distribution set line isnot validated against the project transaction controls in Oracle Fusion Projects because you do not enter an expenditure item date, which is required for transaction control validation.The expenditure item date is not provided because you use the distribution sets for an indefinite period of time.
NEW QUESTION 37
Which two statements are true about the cross-charge method, Borrowed and Lent?
- A. You must set up the contract business unit to use this method.
- B. This method creates accounting entries that move an amount equal to the transfer price between theprovider and receiver organizations within a legal entity.
- C. Costs or revenue are shared based on transfer price rules with this method.
- D. This method creates a formal internal invoice.
Answer: B,C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost-transacti What's a borrowed and lent processing method?
A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from theprovider organization to the receiver organizationwithin a legal entity.An internal invoice isn't created but costs or revenue are shared based on the transfer price rules.This method provides a financial view of the performance of an organization.
NEW QUESTION 38
Yourcustomer wants to see how quantity, cost, and revenue amounts are automatically distributed by using Spread Curve. Identify two period options that are available for this purpose. (Choose two.)
- A. PA Calendar
- B. Project Accounting Periods
- C. PA-GL Periods
- D. Calendar Types
- E. Accounting Periods
Answer: B,E
Explanation:
Explanation
Reference: https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_87F467307D50416BE040D30A68816855 Spread curves let you distribute quantity, cost, and revenue amounts automaticallyacross accounting or project accounting periods. You assign a spread curve to each resource class. Planning resources (in the planning resource breakdown structure)inherit the spread curve setting from the associated resource class. You can change the spread curve for the planning resource and for any corresponding task assignments, or budget or forecast lines.
NEW QUESTION 39
Your customer accounts revenue based on, product class category. Because all your customer's projects are funded by private and government institutions, theydecide to classify all projects based on their funding source to accurately report on revenue in General Ledger. Accordingly, you create a new class category "Funding Source" and assign it to all projects. However, you notice that the accounting is still happening based on product class category. Identify the reason for this problem. (Choose the best answer.)
- A. Product class category is not enabled for "available as accounting source".
- B. Funding source class category is enabled for "available as accounting source".
- C. Funding source class category is not enabled for "available as accountingsource".
- D. Funding source class category is assigned to all project types.
Answer: C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configur Topic - Manage Project Class Categories Setting Up Class Categories:Points to Consider Available as Accounting Source This option indicates if theclass category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.
Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting.
To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.
NEW QUESTION 40
A consulting services company is currently working on a businesstransformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of theperiod, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)
- A. Dr Accounts Receivables 40,000Cr Revenue 40,000
- B. Dr Unearned Revenue 40,000Cr Revenue 40,000
- C. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
- D. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
Answer: D
NEW QUESTION 41
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets basedon the construction-in-process cost of each asset.Identify the asset allocation method that you must use as the default method while configuring project types to meet this requirement. (Choose the best answer.)
- A. Current Cost
- B. Standard Unit Cost
- C. Estimated Cost
- D. Spread Evenly
- E. Actual Unit
Answer: A
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configura Topic - Asset Cost Allocation Methods: Explained The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocateunassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type.
You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level.
The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of thestandard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION 42
Your client has implemented Oracle Cloud Applications with their United States business unit and United Kingdom business unit. After six months, they acquired another company in China andadded a China business unit. A project accountant in your organization is authorized to access transactions for the US, UK, and China business units. The project accountant can see the transactions for the US and UK business units but not for the China business unit. Why is he not able to see the transactions for the China business unit? (Choose the best answer.)
- A. The application role relevant to the China business unit is not assigned to the project accountant.
- B. The US and UK business units are linked to different ledgers than the China business unit.
- C. The China business unit is associated with a different legal entity than the US and UK business units.
- D. The project accountant isnot assignedto the external rolethat grants access to the China business unit.
Answer: D
NEW QUESTION 43
Whichtwoattributes are available while enabling a task as a business object for social networking?
- A. Project Number
- B. Task
- C. Creation Date
- D. Task Number
- E. Project
Answer: A,D
NEW QUESTION 44
You have four resources in your organization: P, Q,R, and S.
Resource P - Project or resource calendar is active.
Resource Q - Project resource request dates are within the project or resource calendar effective dates.
Resource R - Resource calendar is complex, it does not contain seven days, and it contains more than one pattern and shift.
Resource S - Number of working days within the requested date range is not zero on the project or resource calendar.
Identify the resource for whom Resource Availability Capacity Score will not be calculated. (Choose thebest answer.)
- A. P
- B. Q
- C. R
- D. S
Answer: C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/evaluate-and-assign-resourc Topic -Resource Available Capacity Score: How It's Calculated Calendars Used to Calculate Resource Available Capacity Scores How the Resource Available Capacity Score Is Calculated
NEW QUESTION 45
Your business user has created a purchase order (PO) that has the following attributes:
Accrue at Receipt = Yes
Matching Option = 2 way
Receipt Close Tolerance = 100%
After approval, the PO is closed for receiving without creating a receipt. An AP invoice is created by matching to the PO. The user now runs Create Accounting for Receiving Transactions and then the "Import and Process Cost transactions" ESS (Enterprise Scheduler Service) job using the Transaction Source parameter as "Oracle Payables". The user notices that there is no cost transferred to the projects. Identify two reasons for this problem. (Choose two.)
- A. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, cost is transferred to projects by Cost Management and not by Payables.
- B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to projects only if there are accounted receipt lines.
- C. When you have an AP invoice that is matched againsta PO with Accrue at Receipt set to NO, cost is transferred to projects by receipt accounting.
- D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to project by payables.
Answer: A,B
NEW QUESTION 46
Your client uses Resource Breakdown Structures (RBS) and Resource Mapping to associate amounts to resources. After making some changes to the resources at project level, forecasts are regenerated. After reviewing the cost amounts associated with the resources, you suspect that the cost association does not match your client's expectations. Identify two valid rules based on which cost association works. (Choose two.)
- A. If a transaction maps to more than one level, Oracle PPMCloud sums the precedence numbers for all resource type in the branch and gives precedence to the resource element in the branch with the highest sum.
- B. If one branch contains a user-defined resource type, precedence is given to the branch that contains a user-defined resource type.
- C. If there is only one level in RBS to which the transaction maps, the cost amounts are mapped to that level.
- D. If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with thelowest number at the lowest level.
Answer: C,D
Explanation:
Explanation
Reference: https://docs.oracle.com/cd/E37583_01/doc.1116/e22598/F458900AN13D82.htm How Resource Mapping Is Calculated You can track the cost impact of every resource that has been assigned to a project task and use the resource breakdown structure to view the breakdown of these costs. Oracle Fusion Projects associates the costs of the resourcesused for tasks with branches and levels in the resource breakdown structure. The process for determining the correct association is managed by rules of precedence.
Oracle Fusion Projects uses the followingrules to associate cost amounts with resources:
* Select thelowest levelin the resource breakdown structure to which atransaction can map.
* If there is only one level to which the transaction maps, the cost amounts are mapped to that level.
* If the transaction maps to more than one level, Oracle Fusion Projects sums the precedence numbers for all resource types in the branch and gives precedence to the resource element in thebranch with the lowest sum.
* If more than one branch has the lowest precedence number at the lower level, the application uses the precedence number of thenext level up.
* If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.
* If one branch contains a user-defined resourcetype, precedence is given to the branch thatdoes not contain a user-defined resource type.
NoteOracle Fusion Projects gives more precedence to a lower precedence number. For example, a resource element with a precedence number of 1 is given precedenceover a resource element with a precedence number of 10.
NEW QUESTION 47
Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocateto various projects that use the services of the infrastructure team. You want to allocate these costs by first attributing a fixed percentage of the source amount to each project and then spread it across tasks based on the actual labor hours charged to each task.
Which allocation basis method would you use to meet this requirement? (Choose the best answer.)
- A. target percentage and spread evenly
- B. target percentage and prorate
- C. prorate
- D. spread evenly
Answer: B
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjc/allocate-project-costs.html#O
* Spread Evenly
* The allocation rule divides the source pool amount equally among all the chargeable target tasks included in the rule.This is the most simple and direct basis method.
* Target Percentage and Spread Evenly
* Specify the percentage of the source pool that is required to allocate to each target line. The total specified target percentage must always equal 100 percent. Theallocation rule calculates the amount to allocate to the target line, and then spreads the results evenly among the chargeable tasks.
* Prorate
* The allocation generation uses the attributes defined in the allocation rule to derive the rate at which the source pool amount is apportioned among the target projects and tasks. For this basis method, the allocation rule uses the basis attributes to apportion the source amount among all the tasks defined by the rule. The Prorate basis method provides precise controlover how the rule distributes the source pool.
* Target Percentage and Prorate
* The allocation rule first usesthe target percentage to calculate the amount to allocate to the line, and then apportions the results among all the tasks. The nd Prorate basis methodprovides precise control over how the rule distributes the source pool.
NEW QUESTION 48
You have closed theproject accounting period with a warning, but you are unable to close the accounting period due to an error.
Identify two reasons for this problem. (Choose two.)
- A. Unaccounted transactions have not been swept to the next period.
- B. The corresponding Oracle Payables Cloud accounting period has not been closed.
- C. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.
- D. Pending burden summarization items have not been processed.
- E. Unaccounted transactions are notimported.
Answer: A,C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record-accounting-for-projec Topic - Accounting Period and Project Accounting Period Closing: How Validation Works
NEW QUESTION 49
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