Microsoft SL 7.0 Project Series Set 2

1.

Which of the following values are set up in Code Files? Choose the 2 that apply.

Contract Types. Subaccounts. Employees. Labor Classes.

2.

Billed-to-Date and Contract Value Account Categories are generally of which type?

Asset Liability Revenue Non-Accounting

3.

An Account Category's Account Class field is used in which of the following processes?

Financial Transaction Transfer Revenue Recognition Allocation Processor Project Charge Entry

4.

Which of the following is true about the way Revenue Recognition general ledger postings may be configured?

Revenue or Unbilled Revenue postings can be made. Customer specific subaccounts may be used. Contract specific Revenue accounts can be used. The revenue GL Account selected for posting can be driven by a specific account category.

5.

Choose the answer that describes the comma-delimited file created when Pay Labor Interface is run and is interfaced to an External File?

The file is in ADP format for timecards up to and through the selected Fiscal Period. A file is created for timecards up to and through the selected Fiscal Period. The files is in ADP format for timecards up to and through the selected Week Ending date. A file is created for timecards up to and through the selected Week Ending date.

6.

Where does the subaccount for a labor cost transaction default from?

Either the project or the task (if a subaccount is set up at the task level, it will be used instead of the project subaccount). Either the employee or the project, which is a system wide setting (as opposed to a project specificoption). Either the union or the labor class (if no union is specified for the employee). Either the labor class or the task (if nothing is set up for the labor class, the subaccount will default fromthe task).

7.

What payment methods are available in Travel and Expense Report Entry? Choose the 2 that apply.

Vendor. Employee Paid. Company paid methods that have been defined in Code File Maintenance. Company paid methods that have been defined in Time and Expense Setup

8.

How is the amount of a salaried exempt (S1) employee's cost that is posted to a project calculated (assume no overtime is recorded)?

The total hours worked on that project, divided by the total hours worked for the week, multiplied by the amount in the Employee Position/Rate Maintenance Salary field. The amount in the Employee Position/Rate Maintenance salary field, multiplied by the Salary Factor forthe
appropriate week in Week Maintenance, divided by the total hours worked and multiplied by the hours worked on that project. The regular hours worked on that project, divided by the total regular hours worked for the week,multiplied by the employee's amount in the Employee Position/Rate Maintenance Salary field. Overtime hours are excluded. The regular hours worked on that project and overtime hours are multiplied by the hourly rate andovertime rate.

9.

The Labor Commitment Load calculation considers what field in Employee Position Rate Maintenance?

Salary Union Prevailing wage code Hourly

10.

Which of the following system-defined code types used in Timecards is required under all circumstances?

EMPT EARN LABC PSA

Microsoft SL 7.0 Project Series Set 2

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Microsoft SL 7.0 Project Series Set 2

Answer & Solution

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