1Z1-1024 Exam Training Practice Tests (Oracle Cost Management Cloud 2018 Implementation Essentials)]

Question 1

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 lowest production cost C. Work definitions with specific unit numbers D. Work definitions with the highest costing priority E. Work definitions with the highest production priority

Correct Answer: B,C

Question 2

Which two steps need to be completed to estimate landed costs?

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

Correct Answer: C,E

Question 3

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, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status C. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions D. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions E. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions

Correct Answer: C

Question 4

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 Functional Setup Manager and associate with Trade Operations in Landed Costs B. Define the route In Cost and Profit Planning 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 Landed Costs and associate with the Trade Operations Template in Landed Costs. E. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs

Correct Answer: C

Question 5

Select the two valid relationships between subledger components.

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 groups journal entry rule sets by Event Class and Event Type. D. The accounting method holds the accounting rules by Event Class and Event Type. E. The journal lines hold the journal entry rule sets.

Correct Answer: A,B

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Question 6

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 until the cost cutoff date is changed to a date that is later than the transaction date. B. 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. C. It only affects whether or not you can process a cost adjustment. D. 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.

Correct Answer: C

Question 7

Which three predefined areas can you review on the Overview page for Cost Accounting?

A. Inventory Valuation B. Cost Processing C. Journal Entries D. Work Order Costs E. Item Costs F. Purchase Variance Summary

Correct Answer: C,D,E

Question 8

Which three tasks can be completed in the Receipt Accounting work area?

A. Create Accounting B. Review Item Costs C. Manage Accrual Clearing Rules D. Create Receipt Accounting Distributions E. Review Cost Accounting Distributions F. Review and Approve Item Cost Profiles

Correct Answer: C,D,E

Oracle Cost Management Cloud 2018 Implementation Essentials - 1Z1-1024 Exam Practice Test