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Oracle Project Management Cloud 2023 Implementation Professional Sample Questions (Q83-Q88):

NEW QUESTION # 83
A consulting services company is currently working on a business transformation project for your client that spans over 10 months. The total contract amount is 250000 USD. They have generated a revenue of 25000 USD and an Invoice of 10000 USD at the end of the first period.
The accounting entry for revenue is:
and accounting entry for invoice is:

What will be the accounting entry when you reclassify the billing offset balances in the first period?

A. Dr Unbilled Receivables 10000 -
B. Dr Deferred Revenue 10000 -
C. Dr Accounts Receivables 10000 -
D. Dr Accounts Receivables 10000 -

Answer: D

Explanation:
When you reclassify the billing offset balances in the first period, the accounting entry is:
Dr Accounts Receivables 10000 - Cr Unbilled Receivables 10000
This entry reduces the unbilled receivables balance and increases the accounts receivables balance by the invoice amount. This is because the invoice has been created and sent to the customer, and the billing offset account is no longer needed. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2356091

NEW QUESTION # 84
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)

A. project organization
B. project unit
C. project classification
D. project type

Answer: B

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.html#OAPJF220111 Asset Cost Allocation Methods 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 allocate unassigned 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 Asset Cost Allocation Methods 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 the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset

NEW QUESTION # 85
Green House Corporation has decided to enable the budgetary control feature for their projects. At which two levels will they be able to enter the amounts in the budget versions for these projects?

A. Project
B. Expenditure Type
C. Task
D. Top resource
E. Expenditure Category

Answer: B

Explanation:
Budgetary control is a feature that allows you to monitor and control project costs against approved budgets. You can enter the amounts in the budget versions for these projects at two levels: Task and Project. These levels correspond to the budgetary control levels that are defined for the project type. You can also view and compare the budget amounts and actual costs at these levels using reports and dashboards. Expenditure Type, Top Resource, and Expenditure Category are not levels at which you can enter the amounts in the budget versions for these projects. These are attributes that can be used to group and filter the budget and actual amounts for reporting purposes. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-budgets-and-forecasts.html#OAPFM2356191

NEW QUESTION # 86
Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS.
Identify two correct statements about the periodic project labor demand.
Response:

A. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.
B. Labor Demand FTE is calculated as Quaterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
C. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
D. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.

Answer: A,B

NEW QUESTION # 87
Which two statements describe how the Resource Qualification Score is calculated?

A. An individual,s score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.
B. An individual,s score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
C. An individual,s score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.
D. An individual,s score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.

Answer: B

Explanation:
The Resource Qualification Score is a percentage that indicates how well an individual matches the qualifications required for a resource request. An individual's score is 100% if either of the following conditions are met:
The resource request has a qualification, but no proficiency is specified, and the resource has the qualification. This means that any level of proficiency is acceptable for the qualification.
The resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency. This means that the resource has the exact level of proficiency required for the qualification. An individual's score is not 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification or has a different level of proficiency than required. In this case, the score is calculated based on how close the resource's proficiency is to the required proficiency. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356001

NEW QUESTION # 88
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