1Z0-511 practice question 4 of 15

A project has been mistakenly set up as a capital project, instead of a contract project. The project has already incurred expenditure. How can this be remedied?

Full set: 70 questions
Answer options
A: Change the project type to Contract
B: Leave the project as capital and accrue for revenue as is.
C: Move all the costs to an contract task within the capital project.
D: A new project should be set up and costs transferred. Correct answer
E: Delete all the expenditure Items and change the project type.
Correct Answer:
D. A new project should be set up and costs transferred.
Explanation

Note:
* Project Type The project type determines how Oracle Projects processes costs (expenditure items) for a project. The type you choose provides many defaults and controls for project entry and processing. You must choose a type from one of the following project type classes: / Use an Indirect project type to collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid & proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays / Use a Capital project type to collect and track costs and labor hours for asset development activities which you plan to capitalize as one or more assets. / Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client

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