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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 Accounts Receivables 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 Revenue 40,000
Correct Answer: B
You want to export your project plan to Oracle Project Financial Management Cloud after initial scheduling is complete in Microsoft Projects. Identify three conditions that must be met for exporting milestone tasks. (Choose three.)
A. only one labor resource assignment with 100 effort
B. lowest-level tasks set up with non-zero duration
C. lowest-level tasks set up with zero duration
D. only one labor resource assignment with 0 effort
E. percent work complete values of 0 or 100 percent
Correct Answer: CDE
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapex/define- project-management-configuration.html#OAPEX1357147
Topic – Microsoft Project Prevalidation: Explained
The following table describes the Prevalidation rules for tasks and resource assignments.
Lowest-level One labor and multiple expense resources are allowed for a lowest-level task.
tasks Remove other resources.
Summary Only one labor resource with zero allocation is allowed for a summary task. Remove tasks and all other resources.
Milestone No subtasks are allowed under milestone tasks. Milestones must be the lowest-level tasks.
Milestone Milestone tasks must have zero duration.
Milestone Only one labor resource, with zero effort, is allowed for a milestone task. Remove all tasks and other resources.
When exporting milestone tasks, ensure that the tasks:
These are the lowest-level tasks with zero duration, that is, the same start and finish dates.
Have only one labor resource assignment with zero effort.
Have percent work complete values of 0 or 100 percent. Any other values are set to zero before export.
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets based on 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. Standard Unit Cost
B. Actual Unit
C. Current Cost
D. Estimated Cost
E. Spread Evenly
Correct Answer: C
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project- foundation-configuration-manage-project-types.html#OAPFM220111 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 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. 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 of each asset Standard Unit Combination of the standard unit cost and the number of units Cost defined for each asset Spread Evenly Equal allocation of cost to each asset
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)
C. Manual Entry
D. Remaining Plan
Correct Answer: B
Reference https://ppmhelp.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Cost tab of the Project Overview page.
Which five steps are required for the File-Based Data Import Integration option?
A. Run Process to transfer data to interface tables.
B. Install an Excel add-in.
C. Upload the file to the server.
D. Download an Excel template.
E. Populate the spreadsheet with data and generate a CSV file.
F. Import data into various applications.
Correct Answer: ABCDE
Answer: A B C D E
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/19b/oefpp/overview.html#External_Data_Integration_Services_for_Oracle_Cloud_Ov review
You have projects and tasks defined with transaction controls, which do 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 these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors. Identify the reason why the project transaction controls are not applied. (Choose the best answer.)
A. There is no expenditure type information available on the distribution set line.
B. There is no expenditure organization information available on the distribution set line.
C. There is no expenditure item date information available on the distribution set line.
D. The account code combination is not available on the distribution set line.
Correct Answer: C
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapfm/project- costing-configuration-define-project-costing-integrations. html#OAPFM174886 How can I validate distribution sets for project 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 task number during 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 is not 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.
Identify the attribute of a project type that determines if expenditure items are billable, and the amount type to be used as the basis for transfer pricing. (Choose the best answer.)
A. work type
B. event type
C. cost type
D. expenditure type
Correct Answer: A
https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what\’s a work type?)
In billing, you can use work types to classify work for the following purposes:
To determine the default billable status of expenditure items. To classify cross-charge amounts into cost and revenue for cross-charge transactions. Tip: To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item to Yes.
When you create or import expenditure items, the default work type is inherited from the associated task. Tasks, in turn, inherit work type values from parent tasks and ultimately from the project. Project types determine the default work type value for projects and project templates.
Your client is involved in automation control systems installation. Over the years, they have analyzed their total project spend on specific resource classes. They have identified that their cost spread distribution factor on a 10-spread point
0-4-10-11-14-13-10-4-0-0. Identify two ways to handle this kind of spread on their budgets and forecasts. (Choose two)
A. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach it to a project template.
B. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach it to the resource class.
C. Use the predefined Bell Curve spread with small deviations on the spread points.
D. Use the predefined S-Curve spread with small deviations on the spread points.
Correct Answer: BC
Your organization has been awarded a new contract based on which you are allowed to sell: Items not tracked in inventory Inventory items Services Which contract structure would fulfill your requirement of item sales? (Choose the best answer.)
A. Create two contract lines with a line type each of “free-form, project-based buy agreement” and “bundle sell, project-based”.
B. Create two contract lines with a line type each of “sell intent, free-form, project-based” and “sell intent, item, project-based”.
C. Create two contract lines with a line type each of “product, project-based, sell agreement, standalone” and “sell intent, item, project-based”.
D. Create two contract lines with a line type each of “sell intent, item, project-based\’ and “subscription, project-based, sell”.
Correct Answer: B
Your customer wants a project start date to cascade to the project tasks but does not want the finish date to be cascaded. Identify the default setup in a project template that can be used to enable this. (Choose the best answer.)
A. Cascade change to the start date.
B. Do not cascade date changes.
C. Cascade change to the finish date.
D. Cascade changed the start date and the finish date.
Correct Answer: A
Reference https://docs.oracle.com/en/cloud/saas/project-portfolio- management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan- types.html#OAPFM79055
Topic – Project Date Cascade Options
Use the Cascade option choice list to determine whether your changes to project dates cascade to tasks.
Use the Basic Information region on the Edit Project Template page to select one of the following options:
Do not cascade project date changes to tasks: Both start and finish dates are editable. However, you must ensure the following:
The project start date is not later than the earliest task date. The project finish date is not earlier than the latest task date. Cascade project start date changes to affected tasks: You can edit only the project start date. Cascade project finish date
change to affected tasks: You can edit only the project finish date. Do not cascade project date changes to tasks as the default value. You must select the cascade option each time you change the project dates, as your selection isn’t saved
for future date changes. If you select to roll up planned dates for tasks or are using an external application for scheduling, then you can’t modify the project start or finish dates.
Identify the precedence order in which cost rates are determined for a planning resource when deriving raw costs for rate-based planning resources. (Choose the best answer.)
A. Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule
B. Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate
C. Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule
D. Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule
E. Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule
Correct Answer: D
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 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 NO, the cost is transferred to projects by receipt accounting.
B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, the cost is transferred to projects by Cost Management and not by Payables.
C. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, the cost is transferred to projects only if there are accounted receipt lines.
D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, the cost is transferred to the project by payables.
Correct Answer: BC
After completing setups in a source environment, your customer wants to move the setup data to a target environment. Identify the two statements related to the task list scope, which you must consider before taking a decision based on the customer’s requirement. (Choose two.)
A. Exported setup data can be filtered by specific scope values if the business object has scope enabled for the setup data export.
B. Exported setup data cannot be filtered by specific scope values if the business object has scope enabled for the setup data export.
C. A scope value is used to assign users who can perform a task within an implementation project.
D. A task list can be segmented by a scope value and a task can be performed for each qualifying value of the selected object.
Correct Answer: AD
As you go through the first-quarter close for your customer, you notice that the burden amounts calculated do not seem to be right. Based on the calculations, you notice that the amounts calculated are not considering the burden schedule override at a task level, which was done during the second month of the quarter. Identify the reason for this problem. (Choose the best answer.)
A. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier cannot be reprocessed.
B. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier can be manually marked for reprocessing.
C. You can enable automatic reprocessing of expenditure items processed before the burden schedule change.
D. All expenditure items charged to the task use the new burden schedule.
Correct Answer: B
You have been asked to set up one active person, who is not a team member in the project, as a quality manager for each quality task created under projects. However, when you try to assign the quality manager as Task Manager, you cannot find the person\’s name in the list of values. What is the reason for this problem? (Choose the best answer.)
A. The “Require Task Managers to be Project Team Members” profile option is set to No.
B. The “Require Task Managers to be Project Team Members” profile option is set to Yes.
C. The quality manager belongs to a department that is not associated with the project.
D. The quality manager is not assigned a supervisor.
Correct Answer: B
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/introducing- oracle-project-portfolio-management-cloud-services. html#FAPFM428138 Topic – Project Foundation Profile Options Profile Option Name – Task Managers Must Be Project Team Members Description – Specify whether task managers must be project team members. Values?No (Default) / Yes Setup Task Name – Require Task Managers to be Project Team Members
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