Oracle 1z0-1074 Free Practice Questions

NEW QUESTION 1
Identify three Landed Cost Management tasks.

• A. Capture Charges
• B. View Rolled Up Costs
• C. Manage Cost Scenarios
• D. Perform Allocations
• E. Create Accounting
• F. Review Journal Entries

Answer: ADE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-managem

NEW QUESTION 2
Which two statements are true about Cost Accounting books? (Choose two.)

• A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
• B. A cost organization has one book that posts to the primary ledger.
• C. Every cost organization must use different book names; they cannot be shared.
• D. Secondary books can post accounting entries into any ledger, including the primary ledgeror any secondary ledger.

Answer: AB

NEW QUESTION 3
Which four steps need to be completed to establish standard costs for a make item?

• A. Run preprocessor.
• B. Complete cost roll-up.
• C. Publish costs
• D. Export item costs.
• E. Add standard costs to a cost scenario.
• F. Create a new cost scenario.

Answer: ABCD

NEW QUESTION 4
A manager has decided to close the period by not allowing any new transactions, except for correctionsand adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?

• A. Open
• B. Closed
• C. Permanently Closed
• D. Never Opened
• E. Close Pending

Answer: B

NEW QUESTION 5
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 usingsegment rules

Answer: DE

NEW QUESTION 6
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However,item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.

• A. The item has no on-hand inventory.
• B. The assembly item is marked as Perpetual Average costed.
• C. Outstanding purchase orders have not been received.
• D. The Work Definition is incomplete.
• E. Burdens have not been established for the item

Answer: BD

NEW QUESTION 7
Which three features are included in Receipt Accounting?

• A. Analyze Standard Purchase Cost Variances
• B. Create ReceiptAccounting Distribution
• C. Review Item Costs
• D. Adjust Receipt Accrual Clearing Balances
• E. Review Journal Entries

Answer: BDE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acc

NEW QUESTION 8
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 Accounts Payable role for the correct cost organization.
• B. Create Data Access on the Accounts Payable role for the correct inventory organization.
• C. Create Data Access on the Cost Accountant role for the correct cost organization.

Answer: A

NEW QUESTION 9
You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

• A. Run the "Activate Accounting Methods" process.
• B. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
• C. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
• D. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
• E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.

Answer: BC

NEW QUESTION 10
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

• A. Purchase Variance Summary
• B. Journal Entries
• C. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing
• D. Cost Processing
• E. Work Order Costs
• F. Inventory Valuation

Answer: CDF

NEW QUESTION 11
In which two scenarios would you define account rules based on value sets?

• A. When a chart of accounts is assigned to the value set definition
• B. When asecondary ledger has a different COA
• C. In the absence of a chart of accounts on the accounting method
• D. When there is a mapping set to convert the accounts
• E. If a segment shares the same value set across multiple chart of accounts

Answer: DE

NEW QUESTION 12
Which three tasks can becompleted in the Receipt Accounting work area?

• A. Review and Approve Item Cost Profiles
• B. Review Item Costs
• C. Create Receipt Accounting Distributions
• D. Review Cost Accounting Distributions
• E. Manage Accrual Clearing Rules
• F. Create Accounting

Answer: CDE

NEW QUESTION 13
Your client needs to import the relevant transactions and tax determinants for their expense items into ReceiptAccounting. What is the correct sequence of processes to accomplish this?

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

Answer: A

NEW QUESTION 14
You are verifying your distributions for yourtransactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

• A. Run the Transactions from Procurement to Costing process.
• B. Run theTransfer Costs from Payables to Cost Management process.
• C. Run the Create Accounting process.
• D. Run the Clear Receipt Accrual Balances process.
• E. Run the Transactions from Receiving to Costing process.

Answer: E

NEW QUESTION 15
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

• A. Debit Charge Account (expense or inventory), Credit Receiving Inspection
• B. Debit Accrued Liability, Credit Accounts Payable
• C. Debit Receiving Inspection, Credit Accrued Liability
• D. Debit Expense, Credit Receiving Inspection
• E. Debit Expense, Credit Expense Accrual

Answer: A

NEW QUESTION 16
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

• A. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
• B. This requirement will already be met by the default data generated when using Quick Setup.
• C. Create the cost in Manage Cost Scenarios.
• D. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

Answer: B

NEW QUESTION 17
Trade events for physical shipmentsare interfaced into the Cost Accounting subledger from which module?

• A. Inventory
• B. Order Management
• C. Purchasing
• D. Financial Orchestration
• E. Shipping

Answer: D

NEW QUESTION 18
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.

Answer: B

NEW QUESTION 19
What are the predefined areas that give youvisibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?

• A. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
• B. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
• C. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
• D. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
• E. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt AccountingTransactions

Answer: A

NEW QUESTION 20
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 off merge matching lines in the journal line rule.
• B. Turn off thesummarize flag in the journal line rule.
• C. Write a custom report.
• D. Turn on detailed posting for GL in the ledger setup.
• E. Extract distribution accounting entries.

Answer: A

NEW QUESTION 21
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 costcomponent to cost element mapping.

Answer: BC

NEW QUESTION 22
Which two steps need to be completed to estimate landed costs?

• A. Transfer transactions from the Inventory to the Costing process.
• B. Transfer transactions from the Payables to the Costing process.
• C. Update standard costs.
• D. Allocate charges
• E. Prepare the Material Purchase Order Data process.

Answer: CD

NEW QUESTION 23
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.

Answer: A

NEW QUESTION 24
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lotsdifferently then others
What must they do to accomplish this?

• A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
• B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
• C. They must create their valuation units manually.
• D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

Answer: D

NEW QUESTION 25
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. Receipt Accounting- Receipt Accounting Distributions Real Time
• B. Receipt Accounting-- Receipt Accounting Transactions Real Time
• C. Costing –Receipt Accounting Real Time
• D. Financials-Subledger Accounting-DetailTransactions
• E. Costing-Cost Accounting Real Time

Answer: D

NEW QUESTION 26
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