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Oracle Project Management Cloud 2023 Implementation Professional Sample Questions (Q23-Q28):

NEW QUESTION # 23
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)

A. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
B. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
C. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.
D. The project sends only the invoice header to Receivables, not the invoice line description and distributions.

Answer: C

Explanation:
When a project invoice is transferred or created in Receivables, the project sends only the invoice header and invoice line description to Receivables, not the invoice distributions. The invoice distributions contain the detailed information such as quantity, unit price, and line total. Therefore, the Receivables invoice does not show these details, but only shows a quantity of 1 and a unit price equal to the line total. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355931

NEW QUESTION # 24
Where should you specify the Default Capitalized Interest Rate Schedule?

A. Manage Project Plan Type page
B. Manage Project Type page
C. Manage Capitalized Interest Rates page
D. Manage Expenditure Type page
E. Manage Capitalized Interest Rate Schedules page

Answer: A

Explanation:
The Default Capitalized Interest Rate Schedule should be specified on the Manage Project Type page. This option allows you to select a capitalized interest rate schedule that will be used as the default for projects or tasks that use the project type. A capitalized interest rate schedule defines the interest rates and dates that are used to calculate the capitalized interest amount for a project or task. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356101

NEW QUESTION # 25
Select two correct statements about project classifications on a template.

A. When a project is created from a template, the required project classifications must be entered.
B. Project Classification is a mandatory field on a project template.
C. Set Code is not required for a project class category in a project classification.
D. Project class category in a project classification must be associated with a Set Code.

Answer: C

Explanation:
Project classifications are used to group and report on projects based on different criteria. A project template can have one or more project classifications, which can be either required or optional. When a project is created from a template, the required project classifications must be entered, while the optional ones can be left blank. A project class category in a project classification must be associated with a set code, which determines the list of values for the project class. Project classification is not a mandatory field on a project template, but it is recommended to use it for reporting purposes. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-plans.html#OAPFM2355961

NEW QUESTION # 26
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.

A. The organization is not classified as a project-owning organization.
B. The organization is not classified as a project expenditure organization.
C. The organization is classified as a project unit.
D. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.

Answer: A

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 # 27
Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement.

A. invoice method
B. bill plan
C. billing controls
D. billing events
E. expenditure items

Answer: A

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/create-customer-contract.html#OAPJB70183 Bill Plan - Create a bill plan within a contract that uses the invoice method you require. Assign the bill plan to one or more contract lines. A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Invoice Method is used in creating Bill Plan - not a separate setup.
Billing Controls - Contract feature that controls the types of transactions, dates, and amounts a customer may be invoiced for and revenue can be recognized for a contract or contract line. Define billing controls at the contract or contract line level.
Topic - Creating a Contract for Percent Spent Invoice and Revenue Methods: Worked Example This example describes a scenario where transactions for a contract line need to be invoiced and the revenue recognized using the percent spent method.
What are the revenue and invoice method classifications? Percent Spent What is the billing extension calculation level for the contract line and project association? Project level Summary of the Tasks Create a contract, create the percent spent contract lines, create the bill plan, create the revenue plan.
Prerequisites
Create a project.
Create the project plan for percent spent revenue. Specify the plan type on the percent spent billing extension.
Create an approved cost budget.
Create cost and burden rates.
Enter labor and expense transactions for the project.
Collect costs for the transactions.
Configuration Steps
Creating the Contract
Creating the Percent Spent Contract Lines
Creating the Bill Plan - A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans.
Creating the Revenue Plan - Common set of instructions for recognizing revenue within a contract. Multiple contract lines on a contract can use the same or different revenue plans.
Invoice method classifications determine how transactions are invoiced. The invoice method determines how invoice amounts are derived.
Enter an invoice method on a bill plan, which you create for a contract and assign to contract lines to provide a set of instructions for creating an invoice.
Create billing controls for a contract or contract line to define the valid transaction dates, billing resources, and amount limits for transactions associated with the contract.
Generate invoices to calculate the invoice amounts for a contract.
The following figure illustrates the components of a project and a contract that determine invoice amounts, and the relationships between the components.

NEW QUESTION # 28
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Free PDF Quiz 2025 1Z0-1057-23: Newest Oracle Project Management Cloud 2023 Implementation Professional Online Tests

ACE THE Oracle 1Z0-1057-23 EXAM BY CONSIDERING THE BEST PLATFORM

Oracle Project Management Cloud 2023 Implementation Professional Sample Questions (Q23-Q28):

1Z0-1057-23 Online Tests | Authoritative Oracle Project Management Cloud 2023 Implementation Professional 100% Free Exam Cram Pdf

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