1Z0-1057-22 Online Practice Questions and Answers
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
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
scale resembles:
0-4-10-11-14-13-10-4-0-0. Identify two ways to handle this kind of a 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 to a project template.
B. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach 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.
You have four resources in your organization: P, Q, R, and S.
Resource P - Project or resource calendar is active.
Resource Q - Project resource request dates are within the project or resource calendar effective dates.
Resource R - Resource calendar is complex, it does not contain seven days, and it contains more than one pattern and shift.
Resource S - Number of working days within the requested date range is not zero on the project or resource calendar.
Identify the resource for whom Resource Availability Capacity Score will not be calculated. (Choose the best answer.)
A. P
B. Q
C. R
D. S
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)
A. project classification
B. project type
C. project unit
D. project organization
When scheduling the Update Project Performance Data process to run on a periodic basis, which summarization method would you select? (Choose the best answer.)
A. Bulk
B. Detail
C. Incremental
D. Summary
While opening an organization tree on the Manage Organization Trees page, you notice that the hierarchy status is displayed as Inactive. Identify the two reasons for the organization tree to be in Inactive status. (Choose two.)
A. You used Create Tree in the action menu.
B. You used Create Tree Version in the action menu.
C. You used View Tree Version in the action menu.
D. You selected the Edit icon for opening the hierarchy.
E. You opened the hierarchy by clicking the name.
Which four notification templates are predefined?
A. Password Reset Template
B. New Account Template
C. Forgot Password Template
D. Forgot Username Template
E. New Account Manager Template
Which two statements are true about a project in "Draft" status? (Choose two.)
A. Project managers can view draft projects on the Project Manager Dashboard and use the projects for requirements planning.
B. Project managers can neither view draft projects on the Project Manager Dashboard nor use the projects for requirements planning.
C. Team members can see the tasks from draft projects on the Team Member Dashboard or in the My Work area.
D. Team members cannot see the tasks from draft projects on the Team Member Dashboard or in the My Work area.
In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)
A. common costs on the project/task
B. expenditure type exclusions on the Capitalized Interest rate name
C. expenditure type exclusions on the Capitalized Interest rate schedules
D. expenditure items whose cost spreads across multiple assets that are capitalized
E. expenditure items whose costs are applied to a single asset or multiple assets
Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)
A. Receipt Accounting
B. Payables
C. Fixed Asset
D. Purchasing
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