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Oracle Project Management Cloud 2023 Implementation Professional Sample Questions:

1. Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocate to 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) spread evenly
B) prorate
C) target percentage and prorate
D) target percentage and spread evenly

2. Your customer accounts revenue based on, product class category. Because all your customer''s projects are funded by private and government institutions, they decide 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) Funding source class category is assigned to all project types.
B) Funding source class category is not enabled for "available as accounting source".
C) Funding source class category is enabled for "available as accounting source".
D) Product class category is not enabled for "available as accounting source".

3. Identify three correct statements about project types.
(Choose three.)
Response:

A) Project type can be associated with multiple project units.
B) Classifications can be assigned at project type.
C) Summarization options can be specified at project type.
D) Project type can be enabled for both billing and capitalization.
E) Project type can be used as a source in subledger accounting.

4. Which three can be tracked as Status tracking for Project Invoice Approval Notifications? (Choose three.)

A) Pre-approval activities
B) Persons with whom it is still pending approval
C) Prior actions
D) Person assigned for approval
E) Date-wise updates to the document

5. A consulting services company is currently working on a business transformation 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 the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)

A) Dr Unearned Revenue 40,000Cr Revenue 40,000
B) Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
C) Dr Accounts Receivables 40,000Cr Revenue 40,000
D) Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000

Solutions: