Oracle Cost Management Cloud 2023 Implementation Essentials - 1z0-1074-23 Exam Practice Test

A. Estimating Standard Costs for Assemblies

B. Analyzing and Comparing Costs

C. Review Work Order Costs

D. Manage Resource Rates

E. Management Cost Accounting Periods

F. Review Item Costs

A. Work Order Costs

B. Inventory Valuation

C. Item Costs

D. Journal Entries

E. Cost Processing

F. Purchase Variance Summary

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 calculating the estimated cost of manufactured items under different scenarios.

D. It is used for Receipt Accounting.

A. Periodic average cost

B. Actual cost (LIFO or Last In First Out)

C. Actual cost (FIFO or First In First Out)

D. Perpetual average cost

E. Period end average cost

F. Standard cost

A. Journal entry rules are used to hold accounting rules.

B. Journal entry rule sets hold journal rules and accounting rules.

C. The accounting method holds the accounting rules by Event Class and Event Type.

D. The accounting method groups journal entry rule sets by Event Class and Event Type.

E. The journal lines hold the journal entry rule sets.

A. The application will generate an error because there are two work definitions for the same item.

B. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.

C. The scenario will choose the work definition that is production priority 1.

D. The application will use the work definition that is named Plan B.

E. The cost planning scenario will use both work definitions for the item.

A. Transfer to Sub ledger Accounting.

B. Transfer transactions from receiving.

C. Transfer transactions from payables.

D. Create distributions.

E. Assign accruals to purchase order transactions.

A. There is no difference between owned inventory and consigned inventory.

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

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

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

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

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