1Z0-1074-20 Online Practice Questions and Answers

How is the standard cost of a manufactured configured item calculated?

A. It is based on the material and resource requirements of a released work order.

B. The standard cost of a model item is calculated.

C. The standard cost is calculated for every possible combination of options under a model

D. It is based on the actual cost of the work order after it is completed.

Identify two characteristics of a cost profile.

A. It is used for calculating the estimated cost of manufactured items under different scenarios.

B. It is used for Receipt Accounting.

C. It is where you define your Cost Accounting policies.

D. It is where you define which cost method you want to use for the cost component to cost element mapping.

When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

A. Receivables invoices; actual cost can be used.

B. Payables invoices; invoice price variance can be added to item cost.

C. Receipt costs; costs include adjustments.

D. Requisition costs; validated costs can be used.

E. Purchase order costs; item catalog costs can be used.

Which two rules determine whether a condition has been met for accounting rules?

A. When the condition is met, the rule associated with that priority is used.

B. Priorities determine the order in which accounting rule conditions are examined.

C. The conditions are evaluated in the sequence they are defined in the accounting rule.

D. After all conditions are tested, the final resulting value is used.

E. Use parenthesis to control the order of the condition evaluation.

A chart of accounts (COA) must be specified on the accounting method for which two situations?

A. When using ledgers that have unique accounting requirements

B. When using account combination rules

C. When account combination rules use constants

D. Every accounting method should have a COA.

E. When using segment rules

You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are

A. Why can't you see this process?

B. Purchase order information is automatically sent to Receipt Accounting using a real-time method

C. This process can only be scheduled and run from the Receipt Accounting work area

D. You do not have the role to import purchase order information into Receipt Accounting.

E. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

F. Purchase order information should not be imported into Receipt Accounting.

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. Inventory Account Balances Report

B. COGS Account Balances Report

C. Revenue and COGS Matching Report

D. Costing Balances Report

E. Inventory Valuation Report

Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

A. Review their audit receipt accrual clearing balances.

B. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.

C. Review their accrual balances and clear them.

D. Review their Receipt Accounting processes that show whether any processes failed and why.

E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

You have made some changes to your subledger accounting setups for Costing and want to verify that the

journal entries are showing up correctly.

How can you generate a report that allows you to see the subledger journal entries for transactions without

actually transferring to the General Ledger?

A. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

B. Run the Transfer Transactions from Inventory to Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

C. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

D. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No

E. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No

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

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

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 after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.

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.