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QUESTION 1
You need to track the project costs in balance accounts until the customer is invoiced. Which type of project should you use?
A. fixed-price project with completed contract
B. fixed-price project with completed percentage and sales value
C. time and material project with work in process (WIP)
D. internal project with work in process (WIP)
E. time and material projects with accruals
Answer: C
QUESTION 2
You set up a new internal project. You need to manually create a hierarchical representation of the activities for the project. Which form should you use?
A. Activities
B. Assign resources
C. Work breakdown structure template
D. Work breakdown structure
Answer: D
QUESTION 3
You set up three pay-when-paid (PWP) terms and assign them to the vendors for a project. For the first PWP term, you set the account code for all vendors (All). For the second PWP term, you set the account code for an individual vendor (Table). For the third PWP term, you set the account code for a group of vendors (Group). What is the order of precedence for assigning the PWP terms when you create a project purchase order?
A. Table, All, Group
B. All, Group, Table
C. Table, Group, All
D. All, Table, Group
Answer: C
QUESTION 4
You configure a timesheet workflow. What is the Assignment function used to define?
A. conditions for approval of the timesheet
B. notifications after approval of a timesheet
C. submitters of the timesheet
D. reviewers of the timesheet
Answer: D
QUESTION 5
You attach an invoice format to the project contract. Which item is controlled by the invoice format setting?
A. invoice output destination
B. invoice currency
C. invoice summarization
D. invoice orientation
Answer: C
QUESTION 6
You need to configure worker validation project assignments to ensure that certain projects are available for a specific worker. On which form should you configure this type of validation?
A. project
B. project contract
C. worker
D. project management and accounting parameters
Answer: C
QUESTION 7
Which three items are valid project types? (Each correct answer presents part of the solution.
Choose three.)
A. Investment
B. Profit and loss
C. Time
D. Time and material
E. Quotation
Answer: ABD
QUESTION 8
Which journalizing option is used only for time tracking?
A. No ledger
B. Profit and loss
C. Never ledger
D. Balance
Answer: A
QUESTION 9
Which two statements about a header project are true? (Each correct answer presents a complete solution. Choose two.)
A. Transactions cannot be posted to a header project.
B. A header project is designated by the Project group field.
C. Each level of a project hierarchy can have only one project header.
D. A header project must be created at the top level of a hierarchy.
Answer: AD
QUESTION 10
You need to set up a pay when paid (PWP) term for a project. Which project type should you choose?
A. time and material
B. internal
C. cost
D. fixed-price
Answer: A
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