Oracle Cost Management Cloud 2020 Implementation Essentials

QUESTION NO: 1
Select the two valid relationships between subledger components.

A. Journal entry rules are used to hold accounting rules. B. The accounting method groups journal entry rule sets by Event Class and Event Type. C. The accounting method holds the accounting rules by Event Class and Event Type. D. The journal lines hold the journal entry rule sets. E. Journal entry rule sets hold journal rules and accounting rules.

Correct Answer: A,E

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QUESTION NO: 2
Which two steps need to be completed to estimate landed costs?

A. Transfer transactions from the Inventory to the Costing process. B. Transfer transactions from the Payables to the Costing process. C. Allocate charges D. Update standard costs. E. Prepare the Material Purchase Order Data process.

Correct Answer: C,D

QUESTION NO: 3
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 the summarize flag in the journal line rule. B. Extract distribution accounting entries. C. Turn on detailed posting for GL in the ledger setup. D. Turn off merge matching lines in the journal line rule. E. Write a custom report.

Correct Answer: D

QUESTION NO: 4
Identify four characteristics of a cost element.

A. The mapping of cost components into cost elements is user-defined. B. Users can define any number of cost elements. C. It uses date effectivity. D. It is user-defined. E. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing. F. It is the granularity at which costs are tracked and accounted.

Correct Answer: A,C,D,E

QUESTION NO: 5
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

A. Inventory Organization and Cost Organization B. Inventory Organization and Legal Entity C. Business Unit and Inventory Organization D. Business Unit and Cost Organization E. Legal Entity and Cost Organization F. Business Unit and Legal Entity

Correct Answer: C

QUESTION NO: 6
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 4-way match. B. Change inventory items to accrue at period end. C. Change expense items to accrue at period end. D. Change the Receipt Close tolerance so it is 100 percent. E. Change the Purchasing Line types to 3-way match.

Correct Answer: A,E

QUESTION NO: 7
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

A. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met. B. This requirement will already be met by the default data generated when using Quick Setup. C. Create the cost in Manage Cost Scenarios. D. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.

Correct Answer: B

QUESTION NO: 8
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 with the highest costing priority B. Work definitions with the lowest production cost C. Work definitions with specific unit numbers D. Work definitions with the highest production priority E. Work definitions without alternates

Correct Answer: B,C

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