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Total 132 Questions | Updated On: Nov 21, 2024

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Question 1

A consulting services company is currently working on a business transformation project for your client that spans over 10 months. The total contract amount is 250000 USD. They have generated a revenue of 25000 USD and an Invoice of 10000 USD at the end of the first period. The accounting entry for revenue is:

What will be the accounting entry when you reclassify the billing offset balances in the first period?

A : Dr Deferred Revenue 10000Cr Unbilled Receivables 10000

B : Dr Accounts Receivables 10000Cr Unbilled Receivables 10000

C : Dr Unbilled Receivables 10000Cr Accounts Receivables 10000

D : Dr Accounts Receivables 10000Cr Revenue 10000

Answer: C

Question 2

Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment terms consists of only one set of data: the set that is assigned to the transaction's business unit. Which reference data sharing method would you set up to meet the customer requirement? (Choose the best answer.)

A : assignment to one set only with common values

B : assignment to one set only; no common values allowed

C : assignment to multiple sets; common values allowed

D : assignment to multiple sets; no common values allowed

Answer: D

Question 3

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

Answer: D

Question 4

A project administrator is trying to assign a team member for a project but cannot find the person in the team

member list on the Project Definition page. What is the reason for this problem? (Choose the best answer.)

A : The employee is not assigned to the project-owning organization.

B : The employee is not assigned with a supervisor.

C : Project roles are not assigned in the project.

D : The employee is not assigned to a department.

Answer: D

Question 5

You have defined two expenditure types but they are not available for selection when you enter an expenditure batch. What is the reason for this problem?

A : The two expenditure types are not assigned to the reference data set that is assigned to the project expenditure organization in which the transaction is performed

B : The two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed.

C : The two expenditure types are not assigned to the reference data set that is assigned to the business unit in which the transaction is performed

D : The two expenditure types are not assigned to the reference data set that is assigned to the project-owning organization in which the transaction is performed.

Answer: C

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Total 132 Questions | Updated On: Nov 21, 2024

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