Free Oracle Cost Management Cloud 2022 Implementation Professional Exam 1Z0-1074-22 Exam Practice Test

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.

Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.Which two configurations will support this request?

• Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to 'No'.
• Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
• Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
• Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to 'Yes'.
• Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
• Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

Identify two purposes of Sub ledger Accounting.

• to maintain backward compatibility
• to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level
• to calculate costs for transactions
• to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
• to centralize accounting string generation across all modules

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

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

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.

Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?

• Accrual Supplier Liability Report
• Accrual Reconciliation Report
• Accrual Clearing Report
• Uninvoiced Receipt Accrual Report
• Receipt Accounting Real Time Report

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

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

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.