Oracle 1z0-1074-23 : Oracle Cost Management Cloud 2023 Implementation Essentials

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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

A) You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.
B) Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.
C) It will use the work definition with the January 2, 2016 effective date.
D) It must always use the work definition with the October 1, 2015 effective date.

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

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

3. Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A) There is no difference between owned inventory and consigned inventory.
B) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
C) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
D) The quantity is tracked in inventory but not as an asset until there is an ownership event
E) Consigned items can appear on inventory reports with information about the eventual value of the consigned item
F) The liability for a consigned item occurs when there is an ownership event.

4. You can track costs at what granularity level in Cost Accounting for the actual costing method?

A) Grade, Subinventory, Locator, Serial
B) Grade, Serial, Group, Lot
C) Subinventory, Lot, Serial, Locator
D) Subinventory, Make, Lot, Serial
E) Subinventory. Lot, Serial, Grade

5. If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?

A) Rule sets that have a mapping set to convert the accounts
B) Rule sets that use the same chart of accounts
C) Rule sets not associated with any chart of accounts
D) Rule sets assigned to a secondary ledger with a different COA
E) Rule sets where the accounting rules override the method rule set

Solutions: