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Free and Premium Oracle 1z0-1074-23 Dumps Questions Answers

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Total 79 questions

Oracle Cost Management Cloud 2023Implementation Essentials Questions and Answers

Question 1

After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?

Options:

A.

In-transit

B.

Retro-reprice

C.

Adjustments

D.

Overhead

E.

Cost of Goods Sold

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Question 2

Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.

Which cost policy supports this requirement?

Options:

A.

Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.

B.

Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.

C.

Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.

D.

Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.

E.

EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."

Question 3

You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

Options:

A.

Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.

B.

Add the subledger journal entry rule sets to the Manage Accounting Methods task.

C.

Run the "Activate Subledger Journal Entry Rule Set Assignments" process.

D.

Run the "Activate Accounting Methods" process.

E.

Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

Question 4

In which two scenarios would you define account rules based on value sets?

Options:

A.

When a chart of accounts is assigned to the value set definition

B.

When a secondary ledger has a different COA

C.

In the absence of a chart of accounts on the accounting method

D.

When there is a mapping set to convert the accounts

E.

If a segment shares the same value set across multiple chart of accounts

Question 5

Identify three characteristics of cost component to cost element mapping.

Options:

A.

You cannot modify, duplicate, or create user-defined cost components.

B.

You can only define one cost component to cost element mapping for an installation.

C.

It is one of the attributes you define as part of your cost profile definitions.

D.

It is user-defined.

E.

It lets you define how cost component level costs will map into cost elements.

Question 6

Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

Options:

A.

Review their audit receipt accrual clearing balances.

B.

Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.

C.

Review their accrual balances and clear them.

D.

Review their Receipt Accounting processes that show whether any processes failed and why.

E.

Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

Question 7

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.

What must you do to meet your customer's requirement and resolve this error?

Options:

A.

Perform cost account validations for August in Manage Cost Accounting Periods

B.

Run the Transfer Transactions to Costing process.

C.

Close the August period; you can never have two open periods at the same time.

D.

Change the number of maximum open periods in Manage Cost Organization Relationships

Question 8

Which two outcomes can happen in create accounting when an account combination returned is end dated?

Options:

A.

The original account is stored on the journal line.

B.

Suspense accounts cannot be used.

C.

An alternate account will be used if provided.

D.

An error will always occur.

E.

The preprocessor will pre-warn about this error.

Question 9

If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

Options:

A.

The accounting method must have a mapping set to convert the accounts.

B.

Accounting rules cannot override the accounting method.

C.

The accounting method can be assigned to any ledger.

D.

Any secondary ledger that uses the method cannot have a COA.

E.

The accounting method may only be used by ledgers without a COA.

Question 10

You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

Options:

A.

Activate its journal entry rule set assignments.

B.

Transfer costs to Cost Management.

C.

Create Accounting.

D.

Transfer transactions from Receiving to Costing.

E.

Execute the Preprocessor.

Question 11

Which three features are included in Receipt Accounting?

Options:

A.

Analyze Standard Purchase Cost Variances

B.

Create Receipt Accounting Distribution

C.

Review Item Costs

D.

Adjust Receipt Accrual Clearing Balances

E.

Review Journal Entries

Question 12

Landed Cost Variance Analysis can be performed based on which three dimension combinations?

Options:

A.

Business Unit/Landed Cost Charge/Cost Organization

B.

Item/Business Unit/Route

C.

Item Category/Material Supplier/Landed Cost Charge

D.

Inventory Organization/Landed Cost Charge/Third Party Supplier

E.

Item Catalog/Inventory Organization/Business Unit

Question 13

You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?

Options:

A.

Orders

B.

Cost Scenario

C.

Charge Name

D.

Routes

E.

Trade Operation

Question 14

You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?

Options:

A.

It can help you understand true margins and value added by internal business units through the internal supply chain.

B.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.

C.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.

D.

It can help you with consolidated financial reporting.

E.

It is only used when you do not need to maintain an arm’s length relationship.

Question 15

Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

Options:

A.

Costing Account Balances Report

B.

In-transit Valuation Report

C.

COGS and Revenue Matching Report

D.

Work in Process Inventory Valuation Report

E.

Layer Inventory Valuation Report

F.

Cost Accounting Valuation Report

G.

Inventory Valuation Report

Question 16

Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.

How do you accomplish this?

Options:

A.

Turn off merge matching lines in the journal line rule.

B.

Turn off the summarize flag in the journal line rule.

C.

Write a custom report.

D.

Turn on detailed posting for GL in the ledger setup.

E.

Extract distribution accounting entries.

Question 17

Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions.

Which subject area would you select to create this report?

Options:

A.

Receipt Accounting- Receipt Accounting Distributions Real Time

B.

Receipt Accounting-- Receipt Accounting Transactions Real Time

C.

Costing –Receipt Accounting Real Time

D.

Financials-Subledger Accounting-Detail Transactions

E.

Costing-Cost Accounting Real Time

Question 18

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.

How do you get the journal line rule to calculate the gain or loss?

Options:

A.

Create a foreign reporting currency to track gain/loss.

B.

Create a secondary ledger to track gain/loss.

C.

Turn on the Subledger Gain or Loss Option.

D.

Subledger Accounting is already set up to process it.

Question 19

Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

Options:

A.

Business Unit and Cost Organization

B.

Inventory Organization and Legal Entity

C.

Business Unit and Legal Entity

D.

Business Unit and Inventory Organization

E.

Legal Entity and Cost Organization

F.

Inventory Organization and Cost Organization

Question 20

Identify the four types of cost adjustments.

Options:

A.

A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

B.

When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.

C.

A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.

D.

A standard cost update will create an inventory value adjustment.

E.

Authorized users can manually create cost adjustments.

Question 21

Identify four processors available in the cost processor.

Options:

A.

Receipt Processor

B.

Cost Distribution Processor

C.

Cost Reports Processor

D.

Cost of Goods Sold Processor

E.

Cost Accounting Processor

F.

Costing Period Processor

Question 22

Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

Options:

A.

Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.

B.

There is no difference between owned inventory and consigned inventory.

C.

The liability for a consigned item occurs when there is an ownership event.

D.

A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.

E.

The quantity is tracked in inventory but not as an asset until there is an ownership event

F.

Consigned items can appear on inventory reports with information about the eventual value of the consigned item

Question 23

Select two ways to define the standard cost for an item from the Cost Accounting work area.

Options:

A.

Manage the Item Cost task.

B.

Import standard costs from receipt layers.

C.

Manage the Standard Cost task.

D.

Create Standard Cost in a spreadsheet.

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Total 79 questions