PA - Project Accounting

 1. Which of the following is NOT a valid Project Type Class?

a. Indirect

b. Direct

c. Capital

d. Contract

e. None of the Above

2. Which of the following is Mandatory for Capital Projects?

a. Generate Asset Lines

b. Create Draft Invoice for a Project

c. Create Draft Revenue for a Project

d. Capitalize Interest

e. None of the Above

3. Which of the following is NOT part of Oracle Projects Suite?

a. Oracle Project Accounting

b. Oracle Project Contracts

c. Oracle Order Management

d. Oracle Project Resource Management

e. Oracle Project Management

4. Identify the correct sequence for Expenditure Batch Status?

a. Working, Submitted, Released

b. Working, Submitted, Working

c. Submitted, Released, Working

d. Working, Released, Baselined

e. A and B

5. Identify the Correct Sequence for Project Budget Status?

a. Working, Submitted, Baselined

b. Working, Submitted, Released

c. Working, Submitted, Reversed

d. Submitted, Working, Submitted

e. A and D

6. At what level Oracle Projects is configured?

a) Set of Books

b) Business Group

c) Inventory Organization

d) Project/ Task Owning Organization

e) Not Applicable

7. Identify the Correct Sequence to create the Projects?

a) Project Type, Project Template, Project

b) Project Template, Project Type, Project

c) Project, Project Type, Project Template

d) Not Applicable

8. Which of the following is NOT required to Create Project Cost Budget?

a) Budget Type

b) Resource List

c) Budget Change Reason

d) Budget Entry Method

e) Not Applicable

9. Which of the following is NOT part of Pre Approved Expenditure Batch?

a) Supplier Invoices

b) Expense Reports

c) Burden Transactions

d) Time Cards

e) Usage

10. Which of the following application/s is/are integrated with Projects for Project Commitments?

a. Receivables

b. General Ledger

c. Cash Management

d. Purchasing

e. All of the Above

11. Which of the following CAN NOT be used for entering Employee Expense Reports?

a) Payables

b) iExpenses

c) Projects

d) Purchasing

e) All of the above

12. One Company is constructing Office Building for their own use. Which of the following Project Types

will you recommend for creating Project in Oracle?

a. Direct

b. Indirect

c. Capital

d. Contract

e. Any of the above

13. Which of the following is/ are mandatory to create project in Oracle?

a) Project Start and End Dates

b) Project Description

c) Key Members

d) Project Number

e) All of the above

14. Where do you Finally Decide whether Cross Charges are used or Not?

a. Template

b. Project Type

c. Project

d. Task

e. None of the above

15. What is the following can not be changed once Transactions are charged to the project?

a) Project Name

b) Project Description

c) Project Number

d) Project Status

e) All of the above

16. Which of the following can not be entered for Cost Budget?

a. Quantity

b. Revenue Amount

c. Raw Cost

d. Burdened Cost

e. None of the above

17. Which of the following level do NOT permit budget entry for a project?

a) Project

b) Top Task

c) Sub Task

d) Lowest Task

e) None of the Above

18. Which of the following is NOT a valid Allocation Rule Source?

a. Fixed Source Amount

b. Project Sources

c. GL Sources

d. Spread Evenly Source

e. None of the above

19. Which of the following is Correct Sequence for Allocations?

a) Define Allocation, Generate, Release

b) Generate, Define Allocations, Release

c) Define Allocation, Release, Generate

d) Define Allocation, Generate, Complete

e) Not applicable

20. Which of the following allocation Runs will you recommend to delete?

a. Draft Success

b. Release Success

c. Draft Failure

d. In Process

e. None

21. Which of the following can be optional while entering Supplier Invoices for Projects?

a) Project Number

b) Expenditure Type

c) Quantity

d) Expenditure Organization

e) Task Number

22. Where do we enter Project Information while entering Purchase Order?

a. Header

b. Lines

c. Shipment

d. Distribution Line

e. None

23. Which of the following is Correct?

a) Total Burdened Cost = Raw Cost + Burden Cost

b) Total Burdened Cost = Raw Cost * Burden Cost

c) Total Burdened Cost = Raw Cost - Burden Cost

d) Total Burdened Cost = Raw Cost / Burden Cost

e) None of the above

24. Which of the following is Correct?

a) Total Burdened Cost = Raw Cost × (1 * Burden multiplier(s))

b) Total Burdened Cost = Raw Cost × (1 / Burden multiplier(s))

c) Total Burdened Cost = Raw Cost + (1 + Burden multiplier(s))

d) Total Burdened Cost = Raw Cost - (1 + Burden multiplier(s))

e) None of the above

25. Which of the following can not be interfaced from Projects to General Ledger?

a. Usage Cost

b. Miscellaneous Transaction

c. Burden Transaction

d. Labor Cost

e. Expense Report Cost

26. Which of the following is correct sequence for Project Costing?

a) Distribute, Tieback, Interface

b) Interface, Distribute, Tieback

c) Tieback, Distribute, Interface

d) Distribute, Interface, Tieback

e) All of the above

27. Which of the following information is optional for Contract Project?

a. Billing Method

b. Revenue Accrual Method

c. Billing Cycle

d. Retention Information

e. All of the above

28. Which of the following is NOT supported Revenue Accrual and Invoicing Method?

a) Work

b) Event

c) Cost

d) Burden

e) None of the above

29. Which of the following is NOT a valid Rate Schedule?

a) Employee

b) Job

c) Non-Labor

d) Expenditure Category

e) None of the above

30. At what level can we control Revenue Accrual and Invoicing in Contract Project?

a) Top Task

b) Lowest Task

c) Sub Task

d) Top Task and Lowest Task

e) None of the above

31. Which are eligible to become Credit Receivers in Projects?

a) Suppliers

b) Customers

c) Employees

d) Company Agents

e) None of the above

32. For Budget Baseline to succeed, what is required?

a) Funding = Revenue Budget

b) Funding # Revenue Budget

c) Funding > Revenue Budget

d) Funding < Revenue Budget

e) None of the above

33. Which are eligible to become Credit Receivers in Projects?

a) Suppliers

b) Customers

c) Employees

d) Company Agents

e) None of the above

34. Which event will you use to reduce customer receivables in Projects?

a) Write Off

b) Write On

c) Scheduled Payment

d) Deferred Revenue

e) None of the above

35. Which Event Type will you use to enforce same amount for both Revenue and Invoice in Projects?

a) Write Off

b) Write on

c) Scheduled Payment

d) Deferred Revenue

e) Manual

36. Identify Correct Sequence for Invoice Processing in Projects?

a) Generate Draft Invoice, Approve Invoice, Release Invoice, Interface Invoice

b) Approve Invoice, Release Invoice, Generate Draft Invoice, Interface Invoice

c) Release Invoice, Interface Invoice, Generate Draft Invoice, Approve Invoice

d) Generate Draft Invoice, Approve Invoice, Interface Invoice, Release Invoice

e) None of the above

37. Which of the following is NOT a valid Invoice Status in Projects?

a) Unapproved

b) Approved

c) Released

d) Generated

e) Accepted

38. Which of the following is a critical setup step in Projects?

a) Budget Change Reason

b) Service Type

c) Probability List

d) Expenditure Type

e) Project Priority

39. Identify the correct formula for Cost to Cost Revenue calculation?

a) Actual Cost / Total Budgeted Cost * Total Budgeted Revenue

b) Actual Cost * Total Budgeted Cost / Total Budgeted Revenue

c) Actual Cost * Total Budgeted Cost + Total Budgeted Revenue

d) Actual Cost / (Total Budgeted Cost * Total Budgeted Revenue)

e) None of the above

40. Which of the following statements are true?

a) Revenue and Billing are interface with GL

b) Revenue is interfaced with GL and Billing with AR

c) Revenue is interfaced with AR and Billing with GL

d) Revenue and Billing are interface with AR

e) None of the above

41. What is Unbilled Receivables?

a) Revenue accrued in excess of Billing

b) Billing in excess of Revenue accrued

c) Revenue accrued = Billing

d) Revenue Amount + Billing Amount

e) None of the above

42. What is Unearned Revenue?

a) Revenue accrued in excess of Billing

b) Billing in excess of Revenue accrued

c) Revenue accrued = Billing

d) Revenue Amount + Billing Amount

e) None of the above

43. Which of the following statements are true?

a) Revenue and Billing are interface with GL

b) Revenue is interfaced with GL and Billing with AR

c) Revenue is interfaced with AR and Billing with GL

d) Revenue and Billing are interface with AR

e) None of the above

44. Which of the following is a last process step in Revenue Accrual Process?

a) Generate Draft Revenue

b) Interface Revenue

c) Tieback Revenue

d) Journal Import

e) None of the above

45. What is the purpose of Revenue / Invoice Hard Limit of Customer Agreement?

a) Generation Error (Stop)

b) Warning

c) Advice

d) Message to User

46. At the end of the project, what is expected?

a) Revenue Amount = Invoice Amount

b) Revenue Amount # Invoice Amount

c) Revenue Amount > Invoice Amount

d) Revenue Amount < Invoice Amount

47. Which if the following is NOT a valid Cross Charge Transaction?

a) Intra Operating Unit

b) Inter Operating Unit

c) Inter Company

d) Intra Business Group

48. What Cross Charge Processing Methods will you use for charges across Legal Entities?

a) No Cross Charge Process

b) Inter Company Billing

c) Borrowed and Lent

d) Message to User

49. Borrowed and Lent Processing is meant for?

a) Accounting Entries Only

b) Legal Documents

c) Warning Messages

d) Sending Mails to Users

50. What is the first configuration step in Projects?

a) Project Type

b) Expenditure Type

c) Implementation Options

d) Budget Entry Methods

e) Project Priorities

Frequently Asked Questions

1. How many Project Type Classes are there in Oracle Projects?

2. What is an Expenditure Type Class? Is it possible to add Expenditure Type Class in Projects?

3. What is the difference between Expenditure Type Class and Expenditure Type?

4. Is it possible to copy Project Templates from one operating unit to another?

5. Under what circumstances can we enter expenditures for a project belonging to another operating unit?

6. What is a Cross Charge? How many cross charges processing methods are available in Projects?

7. What is Allocation in Projects? What is the purpose of Mass Allocation in Projects?

8. What is Burden in Projects? How many ways can we allocate burden in Projects?

9. Can we enter expenditures for multiple projects in one batch? If yes, how can we do that?

10. What is the difference between Project Owning Organization and Expenditure Owning Organization?

11. What is the difference between Project Owning Organization and Task Owning Organization?

12. What is labor costing? Explain the process of labor costing?

13. What is the difference between Expenditure Category and Expenditure Type?

14. What is the role of subledger in Projects? Can we check the accounting entries in subledger?

15. How many sources are there for allocation in Projects? What is the process for allocation in Projects?

16. What is the difference between additive and precedence burden logic?

17. What is the difference between Indirect Project and Capital Project Types?