Online 1Z0-1057-25 Practice Test

Question 1

Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types. Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)

Options :

A : Create a revenue method with a revenue method classification of Amount Based.

B : Create a revenue method with a revenue method classification of Rate Based.

C : Create a revenue method classification with a revenue method of Percent Spent.

D : Create a revenue method classification with a revenue method of Percent Complete.

Answer: B

Question 2

You are currently involved in the implementation of the Project Financial Management solution for your client organization. Your client organization has two main lines of business: Consulting and Support. Consulting Services and Support Services organizations have different project planning, management, analysis and reporting requirements for the projects that they manage, though the management reporting and transaction processing requirements are the same for both the organizations.

What will be your recommendation?

Options :

A : Define One Business Unit and Two Project Units

B : Define Two Business Units and Two Project Units

C : Define One Business Unit and Three Project Units

D : Define Two Business Units and One Project Unit

Answer: A

Question 3

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.)

Options :

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 4

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.)

Options :

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”.

Answer: B

Question 5

You cannot generate invoices for a project expenditure item. After running the Generate Invoices program for

a billable expenditure item and active contract, the process completes successfully but without any billing, and

does not provide any error logs.

The program’s processing summary is as follows:

Billing Event Errors 0

Ineligible Contracts 0

Successfully Billing Events Created 0

Ineligible Contract Lines 0

Billing Transaction Exception Errors 0

Ineligible Bill Plans 0

Billing Transaction Exception Warnings 0

Ineligible Associated Projects 0

Successful Billing Transactions 0

Ineligible Expenditure Items 0

Draft Invoice Exception Errors 0

Ineligible Events 0

Draft Invoice Exception Warnings 0

Successful Draft Invoices 0

What was the invoice method classification set to that caused this behavior? (Choose the best answer.)

Options :

A : Amount Based

B : Rate Based

C : As Incurred

D : Percent Complete

Answer: A

EXPERTY DESIGNED 1Z0-1057-25 PRACTICE TEST