Free Oracle Cost Management Cloud 2020 Implementation Essentials Exam 1Z0-1074-20 Exam Practice Test

Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

• Costing Account Balances Report
• In-transit Valuation Report
• COGS and Revenue Matching Report
• Work in Process Inventory Valuation Report
• Layer Inventory Valuation Report
• Cost Accounting Valuation Report
• Inventory Valuation Report

After all relevant transactions are in Receipt Accounting, which two tasks must be completed for thesetransactions to be transferred to the General Ledger?

• Transfer to Sub ledger Accounting.
• Transfer transactions from payables.
• Transfer transactions from receiving.
• Create distributions.
• Assign accruals to purchase order transactions.

Which three features are included in Receipt Accounting?

• Analyze Standard Purchase Cost Variances
• Create Receipt Accounting Distribution
• Review Item Costs
• Adjust Receipt Accrual Clearing Balances
• Review Journal Entries https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-accounting.html#FAIMS1921270

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 area would you select to create this report?

• Receipt Accounting- Receipt Accounting Distributions Real Time
• Receipt Accounting-- Receipt Accounting Transactions Real Time
• Costing --Receipt Accounting Real Time
• Financials-Subledger Accounting-Detail Transactions
• Costing-Cost Accounting Real Time

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

• Copy and rename predefined subledger journal entry rule sets before modifying them.
• Use a different journal entry rule set for each ledger with a different accounting convention.
• The subledger journal entry rule set does not need the same accounting event class as the accounting method.
• Journal entry rule sets do not require accounting rules.
• The subledger journal entry rule set does not need the same accounting event type as the accounting method.

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?

• Debit Charge Account (expense or inventory), Credit Receiving Inspection
• Debit Accrued Liability, Credit Accounts Payable
• Debit Receiving Inspection, Credit Accrued Liability
• Debit Expense, Credit Receiving Inspection
• Debit Expense, Credit Expense Accrual

You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?

• Charge Name
• Reference Types
• Trade Operation Templates
• Routes
• Trade Operation

Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.Which pair of tasks are required to define and associate routes in Landed Cost Management?

• Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
• Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
• Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
• Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
• Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs

Identify two characteristics of an expense pool. (Choose two.)

• It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
• It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
• You can define the name of your expense pool, but you cannot define more than one.
• It is used only for analyzing gross margins on noninventory sales of services.

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

• Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
• Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
• Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
• Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
• Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
• Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing