Oracle Cost Management Cloud 2018 Implementation Essentials (1Z1-1024) Free Practice Test

Question 1

If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?

A. Query the transaction from Review Cost Accounting Distributions to see the error message.

B. Review errors in the Create Accounting Execution report.

C. Refer to the Accounting Event Diagnostic report.

D. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.

Correct Answer: B

Question 2

Identify four processors available in the cost processor.

A. Cost Accounting Processor

B. Cost of Goods Sold Processor

C. Costing Period Processor

D. Cost Reports Processor

E. Receipt Processor

F. Cost Distribution Processor

Correct Answer: A,B,D,F

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Question 3

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

A. 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.

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

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 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.

Correct Answer: B

Question 4

You have an item with two work definitions. One work definition is production priority 1 and named Plan A.
Another work definition is production priority 2 and named Plan B.
In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B.
How will the application select the work definition?

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

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

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

D. 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.

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

Correct Answer: D

Question 5

Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

A. Expense invoice number

B. Internal requisition number

C. Receipt number

D. Shipment number

E. Bill of Lading

Correct Answer: B,D

Question 6

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1

A. Use a different journal entry rule set for each ledger with a different accounting convention.

B. The subledger journal entry rule set does not need the same accounting event class as the accounting method.

C. Journal entry rule sets do not require accounting rules.

D. Copy and rename predefined subledger journal entry rule sets before modifying them.

E. The subledger journal entry rule set does not need the same accounting event type as the accounting method.

Correct Answer: E

Question 7

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A. Reference Types

B. Charge Names

C. Trade Operation Template

D. Material Receipts

E. Routes

Correct Answer: D

Question 8

If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

A. Accounting rules cannot override the accounting method.

B. The accounting method can be assigned to any ledger.

C. The accounting method must have a mapping set to convert the accounts.

D. The accounting method may only be used by ledgers without a COA.

E. Any secondary ledger that uses the method cannot have a COA.

Correct Answer: D

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Oracle Cost Management Cloud 2018 Implementation Essentials (1Z1-1024) Free Practice Test