1z0-1074-23 Exam Training Practice Tests (Oracle Cost Management Cloud 2023 Implementation Essentials)]

Question 1

Landed Cost Variance Analysis can be performed based on which three dimension combinations?

A. Item Category/Material Supplier/Landed Cost Charge B. Item/Business Unit/Route C. Inventory Organization/Landed Cost Charge/Third Party Supplier D. Item Catalog/Inventory Organization/Business Unit E. Business Unit/Landed Cost Charge/Cost Organization

Correct Answer: D

Question 2

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: A

Question 3

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

Question 4

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. Extract distribution accounting entries. B. Write a custom report. C. Turn off the summarize flag in the journal line rule. D. Turn off merge matching lines in the journal line rule. E. Turn on detailed posting for GL in the ledger setup.

Correct Answer: D

Question 5

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. Costing Balances Report B. Inventory Account Balances Report
B COGS Account Balances Report C. Inventory Valuation Report D. Revenue and COGS Matching Report

Correct Answer: A,C

Question 6

Identify two purposes of Sub ledger Accounting.

A. to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger B. to calculate costs for transactions C. to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level D. to maintain backward compatibility E. to centralize accounting string generation across all modules

Correct Answer: A,B

Question 7

There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A. Create a condition for a journal line for freight. B. Line Type must be set to Freight. C. Sub ledger accounting is set up to accomplish this out-of-the-box. D. Account Class must be set to Freight.

Correct Answer: B,D

Question 8

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 Costs to Cost Management, Transfer Transactions from Receiving to Costing C. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing D. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing E. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management F. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing

Correct Answer: E

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