Oracle Cost Management Cloud 2019 Implementation Essentials (1Z1-1074) Free Practice Test

Question 1

Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?

A. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.

B. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."

C. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.

D. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.

E. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.

Correct Answer: B

Question 2

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 maintain backward compatibility

C. to obtain detailed information for auditpurposes since all sub ledger accounting is at the detail level

D. to calculate costs for transactions

E. to centralize accounting string generation across all modules

Correct Answer: A,D

Question 3

Identify two characteristics of Landed Cost charge names.

A. You can use multiple currencies within a trade operation for the samecharge name on different lines.

B. Charge names cannot be used to tie an invoice to a trade operation.

C. Duty is a seededcharge name for Landed Cost.

D. Charge names cannot be associated with a PO schedule.

E. You can modify a charge name until it is associated with a trade operation.

Correct Answer: A,E

Question 4

Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions.
Which subject areawould you select to create this report?

A. Costing -Receipt Accounting Real Time

B. Costing-Cost Accounting Real Time

C. Financials-Subledger Accounting-DetailTransactions

D. Receipt Accounting-- Receipt Accounting Transactions Real Time

E. Receipt Accounting- Receipt Accounting Distributions Real Time

Correct Answer: C

Question 5

Which three tasks can becompleted in the Receipt Accounting work area?

A. Create Receipt Accounting Distributions

B. Review and Approve Item Cost Profiles

C. Manage Accrual Clearing Rules

D. Review Cost Accounting Distributions

E. Review Item Costs

F. Create Accounting

Correct Answer: A,C,D

Question 6

Your customer wants to run a report to review account balances for bothinventory 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 Valuation Report

B. Revenue and COGS Matching Report

C. Inventory Account Balances Report
B COGS Account Balances Report

D. Costing Balances Report

Correct Answer: C,D

Question 7

Which two outcomes can happen in create accounting when an account combination returned is end dated?

A. An error will always occur.

B. The original account is stored on the journal line.

C. An alternate account will be used if provided.

D. The preprocessor willpre-warn about this error.

E. Suspense accounts cannot be used.

Correct Answer: B,C

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Question 8

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?

A. Subledger Accounting is already set up to process it.

B. Turn on the Subledger Gain or LossOption.

C. Create a foreign reporting currency to track gain/loss.

D. Create a secondary ledger to track gain/loss.

Correct Answer: C

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Oracle Cost Management Cloud 2019 Implementation Essentials (1Z1-1074) Free Practice Test