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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 Accounts Receivables 40,000Cr Revenue 40,000
B. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
C. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
D. Dr Unearned Revenue 40,000Cr Revenue 40,000
Answer: C
Explanation:
When the invoice is created, the unbilled receivables balance is reduced and the accounts receivables balance is increased by the invoice amount. This is because the revenue has already been recognized and the invoice is just a request for payment from the customer. Reference: https://docs.oracle.com/en/cloud/saas/project- portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710
NEW QUESTION # 75
Which three are part of using the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data?
A. Prepare setup data.
B. Upload setup data.
C. Generate CSV files.
D. File Import and Export.
E. Import Projects.
Answer: A,B,C
Explanation: https://docs.oracle.com/applicat ... 69.htm#OAPFM2159921 Configuring Rapid Implementation: Procedure Project application administrators can use the rapid implementation feature to set up the Project Financial Management offering. Use the Rapid Implementation for Project Financial Management Applications macro- enabled Microsoft Excel spreadsheet to enter setup data and generate the ProjectsWorkbook.zip. Upload this .
zip file to the Setup and Maintenance work area. When the upload completes, the offering is configured based on the setup information that you provide.
Perform the following steps to configure rapid implementation for the Project Financial Management offering:
* Prepare setup data.
* Generate CSV files.
* Upload setup data.
* Correct errors, if any, and reload the data.
NEW QUESTION # 76
Which three are true of what you can do in the Project Requirements work area?
A. Create project tasks for backlog items.
B. Create an implementation project.
C. Manage your list of backlog items.
D. Create an execution project.
E. Organize backlog items by requirements.
Answer: A,C,E
Explanation:
Ref: https://docs.oracle.com/en/cloud ... pem/manage-project- requirements.html#OAPEM874365 Project Requirements: Explained Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
* Organize backlog items by requirements
* Manage your list of backlog items
* Create project tasks for backlog items
NEW QUESTION # 77
Your customer has implemented Oracle Project Portfolio Management Cloud recently and they have hired new employees for their Professions Services business. These employees are set up in Oracle Human Capital Management Cloud, but the Project Administrators are unable to add them as resources in the Planning Resource Breakdown Structure.
What are three conditions for new employees to show up in the list? (Choose three.)
A. All new employees created as persons must have an active supervisor.
B. All new employees created as persons must have an active project role.
C. All new employees created as persons must have an active assignment.
D. All new employees created as persons must be assigned to a department.
E. Current date is before the effective date of the resource, and you did not enable the "Include people with future-dated effective start dates" option during the search.
Answer: C,D,E
NEW QUESTION # 78
Your organization has a requirement to send notifications to the owners of the associated tasks when the status of a deliverable is set to Complete. You have been asked to evaluate generate public events for project deliverable status changes feature to manage this requirement.
Which two statements are true about this feature? (Choose two.)
A. The public event is generated when the progress status for a deliverable changes.
B. The public event is not generated when the priority of a deliverable changes.
C. The public event is generated when a deliverable is created or deleted.
D. The public event is not generated when a deliverable is created or deleted.
Answer: A,D
Explanation:
The generate public events for project deliverable status changes feature is a feature that allows you to send notifications or trigger actions when the progress status of a deliverable changes from one value to another.
For example, when the status of a deliverable is set to Complete, you can send a notification to the owners of the associated tasks or update the status of the tasks accordingly. Two statements that are true about this feature are:
* The public event is not generated when a deliverable is created or deleted. This feature only generates events when the progress status of a deliverable changes, not when a deliverable is added or removed from a project or task.
* The public event is generated when the progress status for a deliverable changes. This feature generates events when the progress status of a deliverable changes from one value to another, such as from Not Started to In Progress, or from In Progress to Complete. You can define rules and actions for each progress status change using Business Process Management (BPM) Worklist. The public event is also not generated when the priority of a deliverable changes, as this feature only generates events when the progress status of a deliverable changes. Reference: https://docs.oracle.com/en/cloud/saas/project- portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356211
NEW QUESTION # 79
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