Oracle Exam 1Z0-511 Topic 3 Question 63 Discussion

Actual exam question for Oracle's 1Z0-511 exam

Question #: 63
Topic #: 3

A project has been mistakenly set up as a capital project, instead of a contract project. The project has already incurred expenditure. How can this be remedied?

AChange the project type to Contract

BLeave the project as capital and accrue for revenue as is.

CMove all the costs to an contract task within the capital project.

DA new project should be set up and costs transferred.

EDelete all the expenditure Items and change the project type.

Show Suggested Answer

Suggested Answer: A, C, E

C: View Accounting Details

With the integration to Oracle Subledger Accounting, you now have the option to define account derivation rules within Oracle Subledger Accounting that will replace the default accounts generated by the Oracle Projects AutoAccounting feature.

E: Account Generation Rules

During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the system to continue using existing AutoAccounting rules without additional setup steps. You may choose to create your own accounting definitions using Accounting Method

by Reita at May 28, 2024, 11:37 AM

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20 days ago

Option A seems the most straightforward solution. Why complicate things when you can simply change the project type?

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Crista

1 days ago

User2: Yeah, that sounds like the easiest way to fix the mistake.

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Beata

9 days ago

User1: I think we should change the project type to Contract.

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Winfred

23 days ago

That could work too, but I feel like setting up a new project and transferring costs might be the safest option.

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Luisa

24 days ago

But wouldn't it be easier to just move all the costs to a contract task within the capital project?

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Winfred

1 months ago

I think we should change the project type to Contract.

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