Free Oracle Cost Management Cloud 2021 Implementation Essentials Exam 1Z0-1074-21 Exam Practice Test

Identify three Landed Cost Management tasks.

• Capture Charges
• View Rolled Up Costs
• Manage Cost Scenarios
• Perform Allocations
• Create Accounting
• Review Journal Entries

Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

• Internal requisition number
  
• Shipment number
  
• Expense invoice number
  
• Bill of Lading
  
• Receipt number
  

You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly.How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?

• Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail* Transfer to General Ledger = No * Post in General Ledger = No
• Run the Transfer Transactions from Inventory to Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No
• Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No
• Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No
• Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

• Material Receipts
  
• Charge Names
  
• PreReference Types
  
• Routes
  
• Trade Operation Template
  

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?

• Turn off merge matching lines in the journal line rule.
  
• Turn off the summarize flag in the journal line rule.
  
• Write a custom report.
  
• Turn on detailed posting for GL in the ledger setup.
  
• Extract distribution accounting entries.
  

What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?

• Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
• Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
• Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
• Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
• Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.What must you do to meet your customer's requirement and resolve this error?

• Perform cost account validations for August in Manage Cost Accounting Periods
• Run the Transfer Transactions to Costing process.
• Close the August period; you can never have two open periods at the same time.
• Change the number of maximum open periods in Manage Cost Organization Relationships

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

• Run preprocessor.
  
• Complete cost roll-up.
  
• Publish costs
  
• Export item costs.
  
• Add standard costs to a cost scenario.
  
• Create a new cost scenario.
  

There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

• Sub ledger accounting is set up to accomplish this out-of-the-box.
  
• Line Type must be set to Freight.
  
• Account Class must be set to Freight.
  
• Create a condition for a journal line for freight.
  

Identify two characteristics of Landed Cost charge names.

• Duty is a seeded charge name for Landed Cost.
• You can modify a charge name until it is associated with a trade operation.
• Charge names cannot be used to tie an invoice to a trade operation.
• You can use multiple currencies within a trade operation for the same charge name on different lines.
• Charge names cannot be associated with a PO schedule.