Oracle.1Z0-1074-20.v2021-04-11.

q28

Exam Code: 1z0-1074-20

Oracle Cost Management Cloud 2020 Implementation
Exam Name:
Essentials
Certification Provider: Oracle
Free Question
28
Number:
Version: v2021-04-11
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# of Questions views: 2111
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NEW QUESTION: 1
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?
A. Perform cost account validations for August in Manage Cost Accounting Periods
B. Change the number of maximum open periods in Manage Cost Organization
Relationships
C. Run the Transfer Transactions to Costing process.
D. Close the August period; you can never have two open periods at the same time.
Answer: C (LEAVE A REPLY)

NEW QUESTION: 2
Which two outcomes can happen in create accounting when an account combination
returned is end dated?
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.
Answer: A,C (LEAVE A REPLY)
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-
setup.html#FAISL212668

NEW QUESTION: 3
The process to map the AP invoices to the trade operation charges has completed. Which
entity did the application use to do this?
A. PreReference Types
B. Charge Names
C. Routes
D. Material Receipts
E. Trade Operation Template
Answer: A (LEAVE A REPLY)

NEW QUESTION: 4
Your client originally used Quick Setup to configure Cost Accounting However, after
reviewing their costing policies, they realize that they want to cost some of their lots
differently then others What must they do to accomplish this?
A. They must create their valuation units manually.
B. Quick Setup generates valuation units so they just have to access those valuation units
and make their changes.
C. Quick Setup generates one valuation unit so they can access this to make changes and
manually create new valuation units.
D. They cannot change their current configuration; data generated by Quick Setup cannot
be changed.
Answer: C (LEAVE A REPLY)

NEW QUESTION: 5
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?
A. Financials-Subledger Accounting-Detail Transactions
B. Receipt Accounting- Receipt Accounting Distributions Real Time
C. Costing-Cost Accounting Real Time
D. Costing -Receipt Accounting Real Time
E. Receipt Accounting-- Receipt Accounting Transactions Real Time
Answer: A (LEAVE A REPLY)

NEW QUESTION: 6
Your customer has a defined financial route that is not the same as the physical route in
that it involves intermediate nodes (internal business units) that are not part of the physical
supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost
Management?
A. Define the route In Cost and Profit Planning and associate with Trade Operations in
Landed Costs
B. Define the route in Functional Setup Manager and associate with Trade Operations in
Landed Costs
C. Define the route in Cost and Profit Planning and associate with the Trade Operations
Template in Landed Costs.
D. Define the route in Functional Setup Manager and associate with Manage Charge
Invoice Associations in Landed Costs
E. Define the route in Landed Costs and associate with the Trade Operations Template in
Landed Costs.
Answer: (SHOW ANSWER)

NEW QUESTION: 7
Identify four features provided by the Review Work Order Costs UI when displaying work
order
A. Incremental Costs
B. Scrap Costs
C. Variable Costs
D. Standard Cost variances
E. Input Costs
F. Output Costs
Answer: B,D,E,F (LEAVE A REPLY)

NEW QUESTION: 8
Identify two characteristics of Landed Cost charge names.
A. You can use multiple currencies within a trade operation for the same charge name on
different lines.
B. Charge names cannot be associated with a PO schedule.
C. Charge names cannot be used to tie an invoice to a trade operation.
D. You can modify a charge name until it is associated with a trade operation.
E. Duty is a seeded charge name for Landed Cost.
Answer: A,D (LEAVE A REPLY)

NEW QUESTION: 9
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?
A. Turn off merge matching lines in the journal line rule.
B. Turn off the summarize flag in the journal line rule.
C. Turn on detailed posting for GL in the ledger setup.
D. Write a custom report.
E. Extract distribution accounting entries.
Answer: A (LEAVE A REPLY)
NEW QUESTION: 10
Which three predefined areas can you review on the Overview page of Cost Accounting?
(Choose three.)
A. Inventory Valuation
B. Work Order Costs
C. Purchase Variance Summary
D. Item CostIdentify two reference types used to tie a receipt trade operation to an
expense invoice for landing
E. Cost Processing
F. Journal Entries
Answer: A,D,E (LEAVE A REPLY)

NEW QUESTION: 11
Your client wants to set up some of their items as expense items and then enable them to
be accrued at period end for one of their business units.
Which two configurations will support this request?
A. Product Information Item > Search and select the expense item > Specifications >
Manufacturing > Verify that Inventory Asset Value is set to "Yes".
B. Manage Common Options for Payables and Procurement > Select the business unit >
Expense Accruals > Set Accrue Expense Items to At Receipt.
C. Manage Common Options for Payables and Procurement > Select the business unit >
Expense Accruals > Set Accrue Expense Items to Period End.
D. Product Information Item > Search and select item > Specifications > Manufacturing >
Verify that Inventory Asset Value is set to "No".
E. Configure Procurement Business Function > Select the business unit > Set Select
Receipt Close Point to Accrue at At Receipt.
F. Configure Procurement Business Function > Select the business unit > Set Select
Receipt Close Point to Accrue at Period End.
Answer: B,F (LEAVE A REPLY)

NEW QUESTION: 12
Identify two criteria to select a specific work definition in an inventory organization when
defining a cost estimation in a Cost Planning scenario
A. Work definitions without alternates
B. Work definitions with the highest costing priority
C. Work definitions with the lowest production cost
D. Work definitions with specific unit numbers
E. Work definitions with the highest production priority
Answer: (SHOW ANSWER)
NEW QUESTION: 13
You can track costs at what granularity level in Cost Accounting for the actual costing
method?
A. Subinventory, Make, Lot, Serial
B. Grade, Serial, Group, Lot
C. Grade, Subinventory, Locator, Serial
D. Subinventory, Lot, Serial, Locator
E. Subinventory. Lot, Serial, Grade
Answer: E (LEAVE A REPLY)

NEW QUESTION: 14
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?
A. Create a separate cost organization for the normal goods subinventories and one cost
organization for the returned goods subinventory.
B. 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."
C. 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.
D. Manually create one cost profile for the normal goods subinventories and one cost
profile for the returned goods subinventory.
E. Manually create one valuation unit for the normal goods subinventories and one
valuation unit for the returned goods subinventory.
Answer: B (LEAVE A REPLY)

NEW QUESTION: 15
How is the standard cost of a manufactured configured item calculated?
A. The standard cost of a model item is calculated.
B. It is based on the actual cost of the work order after it is completed.
C. The standard cost is calculated for every possible combination of options under a model
D. It is based on the material and resource requirements of a released work order.
Answer: A (LEAVE A REPLY)

NEW QUESTION: 16
Your customer wants to run a report to review account balances for both inventory
valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence
reports would you run so the customer can review these balances?
A. Inventory Account Balances Report
B COGS Account Balances Report
B. Revenue and COGS Matching Report
C. Costing Balances Report
D. Inventory Valuation Report
Answer: A,B (LEAVE A REPLY)

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NEW QUESTION: 17
What are the predefined areas that give you visibility into the status of Receipt Accounting,
on the overview page in the Receipt Accounting work area?
A. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt
Accounting Transactions
B. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt
Accounting Transactions
C. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt
Accounting Transactions
D. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt
Accounting Period Validation Status
E. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt
Accounting Period Validation Status
Answer: A (LEAVE A REPLY)

NEW QUESTION: 18
Your client wants to view Landed Cost Variance. Which pair of search options are
available to view Landed Cost Variance?
A. Business Unit and Inventory Organization
B. Inventory Organization and Cost Organization
C. Business Unit and Cost Organization
D. Legal Entity and Cost Organization
E. Inventory Organization and Legal Entity
F. Business Unit and Legal Entity
Answer: A (LEAVE A REPLY)
NEW QUESTION: 19
If the accounting method does not have an assigned chart of accounts (COA), which
option is valid?
A. Accounting rules cannot override the accounting method.
B. The accounting method may only be used by ledgers without a COA.
C. The accounting method can be assigned to any ledger.
D. The accounting method must have a mapping set to convert the accounts.
E. Any secondary ledger that uses the method cannot have a COA.
Answer: A (LEAVE A REPLY)

NEW QUESTION: 20
Identify the four types of cost adjustments.
A. A change to a requisition after the purchase order has been created will create a cost
adjustment.
B. Authorized users can manually create cost adjustments.
C. 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 purchase order.
D. A retroactive purchase order price adjustment can cause an adjustment to the inventory
value and the cost of goods sold.
E. A standard cost update will create an inventory value adjustment.
F. A revenue recognition event, which in turn triggers a cost of goods sold recognition
event, can cause a cost adjustment.
Answer: (SHOW ANSWER)

NEW QUESTION: 21
Your client only wants to cost inventory items and third party costs. Which two modules are
they required to implement to ensure this functionality?
A. Cost Accounting
B. Inventory Management
C. Receipt Accounting
D. Landed Cost Management
E. Product Model
Answer: B (LEAVE A REPLY)

NEW QUESTION: 22
Identify two characteristics of a cost profile.
A. It is where you define which cost method you want to use for the cost component to cost
element mapping.
B. It is where you define your Cost Accounting policies.
C. It is used for Receipt Accounting.
D. It is used for calculating the estimated cost of manufactured items under different
scenarios.
Answer: B,C (LEAVE A REPLY)

NEW QUESTION: 23
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not
rolling up and the Assembly shows "0" cost. However, item costs are available for child
(buy) components. In the review work order cost, we are able to see child components
costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
A. The Work Definition is incomplete.
B. Outstanding purchase orders have not been received.
C. The item has no on-hand inventory.
D. Burdens have not been established for the item
E. The assembly item is marked as Perpetual Average costed.
Answer: (SHOW ANSWER)

NEW QUESTION: 24
If the accounting method on the Subledger Accounting method page has an assigned chart
of accounts (COA), which two types of Journal entry rule sets can be used?
A. Rule sets that use the same chart of accounts
B. Rule sets that have a mapping set to convert the accounts
C. Rule sets not associated with any chart of accounts
D. Rule sets where the accounting rules override the method rule set
E. Rule sets assigned to a secondary ledger with a different COA
Answer: (SHOW ANSWER)

NEW QUESTION: 25
Your client needs to import the relevant transactions and tax determinants for their
expense items into Receipt Accounting. What is the correct sequence of processes to
accomplish this?
A. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
B. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory
to Costing
C. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory
to Costing
D. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing
E. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
F. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
Answer: F (LEAVE A REPLY)
NEW QUESTION: 26
You are configuring Landed Cost Management for client proof of concept and only want to
set up required tasks. Which task must be completed?
A. Reference Types
B. Trade Operation Templates
C. Trade Operation
D. Routes
E. Charge Name
Answer: A (LEAVE A REPLY)

NEW QUESTION: 27
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?
A. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
B. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
C. Run the "Activate Accounting Methods" process.
D. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
E. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
Answer: A,D (LEAVE A REPLY)

NEW QUESTION: 28
At what level can you define item cost profiles?
A. Item cost profiles are defined at the cost organization level. All items within a cost
organization must use the same cost profile.
B. Cost profiles are ultimately defined at the item level. Different items within the same
inventory organization can use different cost profiles.
C. Item cost profiles are defined within an inventory organization. There can be only one
cost method for an inventory organization.
D. Different items within an inventory organization can use different cost profiles, but items
within an item category must all use the same cost profile because that is the level at
which the default cost profile is defined.
Answer: C (LEAVE A REPLY)

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