Get New 2021 Valid Practice Cost Management Cloud 1z0-1074-20 Q&A - Testing Engine
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Oracle 1z0-1074-20 Exam Syllabus Topics:
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NEW QUESTION 18
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 Valuation Report
- B. Costing Balances Report
- C. Revenue and COGS Matching Report
- D. Inventory Account Balances Report
B COGS Account Balances Report
Answer: C,D
NEW QUESTION 19
At what level can you define item cost profiles?
- A. Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
- B. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.
- C. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
- D. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
Answer: A
NEW QUESTION 20
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)
- A. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing
- B. Purchase Variance Summary
- C. Journal Entries
- D. Cost Processing
- E. Work Order Costs
- F. Inventory Valuation
Answer: A,D,F
NEW QUESTION 21
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. Turn on detailed posting for GL in the ledger setup.
- B. Write a custom report.
- C. Turn off merge matching lines in the journal line rule.
- D. Turn off the summarize flag in the journal line rule.
- E. Extract distribution accounting entries.
Answer: C
NEW QUESTION 22
Identify four processors available in the cost processor.
- A. Cost of Goods Sold Processor
- B. Costing Period Processor
- C. Receipt Processor
- D. Cost Reports Processor
- E. Cost Distribution Processor
- F. Cost Accounting Processor
Answer: A,D,E,F
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.html#FAPMA146491
NEW QUESTION 23
Identify four features provided by the Review Work Order Costs UI when displaying work order
- A. Standard Cost variances
- B. Variable Costs
- C. Incremental Costs
- D. Scrap Costs
- E. Input Costs
- F. Output Costs
Answer: A,D,E,F
NEW QUESTION 24
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 cost planning scenario will use both work definitions for the item.
- B. 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.
- C. The scenario will choose the work definition that is production priority 1.
- D. The application will generate an error because there are two work definitions for the same item.
- E. The application will use the work definition that is named Plan B.
Answer: C
NEW QUESTION 25
Select the two valid relationships between subledger components.
- A. Journal entry rule sets hold journal rules and accounting rules.
- B. The journal lines hold the journal entry rule sets.
- 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. Journal entry rules are used to hold accounting rules.
Answer: A,E
Explanation:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAISL/F1456683AN11328.htm
NEW QUESTION 26
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1
- A. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
- B. Copy and rename predefined subledger journal entry rule sets before modifying them.
- C. Use a different journal entry rule set for each ledger with a different accounting convention.
- D. Journal entry rule sets do not require accounting rules.
- E. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
Answer: E
NEW QUESTION 27
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. Line Type must be set to Freight.
- B. Create a condition for a journal line for freight.
- C. Sub ledger accounting is set up to accomplish this out-of-the-box.
- D. Account Class must be set to Freight.
Answer: A,D
NEW QUESTION 28
You have configured the application as follows:
* Expense items are set to accrue at receipt.
* Receipt Close tolerance is set to 75 percent.
* Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes will ensure the Accrue on Receipt check box is not selected by default?
- A. Change the Receipt Close tolerance so it is 100 percent.
- B. Change expense items to accrue at period end.
- C. Change the Purchasing Line types to 4-way match.
- D. Change the Purchasing Line types to 3-way match.
- E. Change inventory items to accrue at period end.
Answer: C,D
NEW QUESTION 29
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
Answer: B,D
NEW QUESTION 30
Landed Cost Variance Analysis can be performed based on which three dimension combinations?
- A. Item Category/Material Supplier/Landed Cost Charge
- B. Item Catalog/Inventory Organization/Business Unit
- C. Business Unit/Landed Cost Charge/Cost Organization
- D. Inventory Organization/Landed Cost Charge/Third Party Supplier
- E. Item/Business Unit/Route
Answer: B
NEW QUESTION 31
Which three cost planning tasks can be performed in the Cost Accounting work area?
- A. Review Item Costs
- B. Estimating Standard Costs for Assemblies
- C. Review Work Order Costs
- D. Manage Cost Accounting Periods
- E. Analyzing and Comparing Costs
- F. Manage Resource Rates
Answer: B,C,F
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_C97AC111350F0D3EE040D30A68814D11
NEW QUESTION 32
You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?
- A. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
- B. It can help you with consolidated financial reporting.
- C. It is only used when you do not need to maintain an arm's length relationship.
- D. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
- E. It can help you understand true margins and value added by internal business units through the internal supply chain.
Answer: A,B,D
NEW QUESTION 33
When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?
- A. Create Data Access on the Cost Accountant role for the correct inventory organization.
- B. Create Data Access on the Cost Accountant role for the correct cost organization.
- C. Create Data Access on the Accounts Payable role for the correct inventory organization.
- D. Create Data Access on the Accounts Payable role for the correct cost organization.
Answer: D
NEW QUESTION 34
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