Oracle Cost Management Cloud 2020 Implementation Essentials

Question 1

Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

A. Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

B. It must always use the work definition with the October 1, 2015 effective date.

C. You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

D. It will use the work definition with the January 2, 2016 effective date.

Correct Answer: C

Question 2

Identify two characteristics of Landed Cost charge names.

A. You can modify a charge name until it is associated with a trade operation.

B. Duty is a seeded charge name for Landed Cost.

C. Charge names cannot be associated with a PO schedule.

D. Charge names cannot be used to tie an invoice to a trade operation.

E. You can use multiple currencies within a trade operation for the same charge name on different lines.

Correct Answer: A,E

Question 3

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

A. Create Standard Cost in a spreadsheet.

B. Manage the Standard Cost task.

C. Manage the Item Cost task.

D. Import standard costs from receipt layers.

Correct Answer: A,C

Question 4

Which statement is true regarding the cost cutoff date in Cost Accounting?

A. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.

B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.

C. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.

D. It only affects whether or not you can process a cost adjustment.

Correct Answer: B

Question 5

You have configured the application as follows:
* Expense items are set to accrue at receipt.
* Receipt Close tolerance is set to 75 percent.
* Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes will ensure the Accrue on Receipt check box is not selected by default?

A. Change the Purchasing Line types to 3-way match.

B. Change inventory items to accrue at period end.

C. Change the Purchasing Line types to 4-way match.

D. Change the Receipt Close tolerance so it is 100 percent.

E. Change expense items to accrue at period end.

Correct Answer: A,C

Question 6

Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

A. Inventory

B. Financial Orchestration

C. Shipping

D. Order Management

E. Purchasing

Correct Answer: B

Question 7

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. Inventory Management

B. Landed Cost Management

C. Cost Accounting

D. Receipt Accounting

E. Product Model

Correct Answer: A

Question 8

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1

A. Use a different journal entry rule set for each ledger with a different accounting convention.

B. Journal entry rule sets do not require accounting rules.

C. The subledger journal entry rule set does not need the same accounting event type as the accounting method.

D. Copy and rename predefined subledger journal entry rule sets before modifying them.

E. The subledger journal entry rule set does not need the same accounting event class as the accounting method.

Correct Answer: E

Oracle Cost Management Cloud 2020 Implementation Essentials - 1z0-1074-20 Exam Practice Test

Latest Update

Useful Links

Contact Us