Oracle 1Z0-1024 Online Practice Questions and Exam Preparation

Oracle 1Z0-1024 Online Questions & Answers

• Question 1:

  You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area.

  Why can't you see this process?

  A. Purchase order information is automatically sent to Receipt Accounting using a real-time method. B. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
  B. You do not have the role to import purchase order information into Receipt Accounting.
  C. Purchase order information should not be imported into Receipt Accounting.
  D. This process can only be scheduled and run from the Receipt Accounting work area.
  A. Purchase order information is automatically sent to Receipt Accounting using a real-time method. B. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

• Question 2:

  Identify two characteristics of a cost profile. (Choose two.)

  A. It is used for Receipt Accounting.
  B. It is used for calculating the estimated cost of manufactured items under different scenarios.
  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 cost component to cost element mapping.
  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 cost component to cost element mapping.

• Question 3:

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

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

• Question 4:

  Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

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

• Question 5:

  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?

  A. Run the Create Accounting for Costing process with the following parameters:
  B. Run the Transfer Transactions from Inventory to Costing process with the following parameters:
  C. Run the Create Cost Accounting Distribution process with the following parameters:
  D. Run the Create Cost Accounting Distribution process with the following parameters:
  E. Run the Create Accounting for Costing process with the following parameters:
  A. Run the Create Accounting for Costing process with the following parameters:

• Question 6:

  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 inventory organization.
  B. Create Data Access on the Cost Account role for the correct inventory organization.
  C. Create Data Access on the Cost Accountant role for the correct cost organization.
  D. Create Data Access on the Accounts Payable role for the correct cost organization.
  D. Create Data Access on the Accounts Payable role for the correct cost organization.

• Question 7:

  You have configured the application as follows: Expense items are set to accrue at receipt. Receipt Close tolerance is set to 75 percent. Purchasing Line types are set to 2-way match.

  When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.

  Which two configurations changes will ensure the Accrue on Receipt check box is not selected by default? (Choose two.)

  A. Change expense items to accrue at period end.
  B. Change the Purchasing Line types to 4-way match.
  C. Change the Purchasing Line types to 3-way match.
  D. Change inventory items to accrue at period end.
  E. Change the Receipt Close tolerance so it is 100 percent.
  A. Change expense items to accrue at period end.
  E. Change the Receipt Close tolerance so it is 100 percent.

• Question 8:

  After "Cost Accounting Processor" has processed the physical inventory classification of transactions, which transaction types will it process next?

  A. In-transit
  B. Cost of Goods Sold
  C. Adjustments
  D. Retro-reprice
  E. Overhead
  E. Overhead

• Question 9:

  Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual journal entries to be successfully generated?

  A. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
  B. Event Class: Expense Accrual Event Type: Period End Accrual
  C. Event Class: Expense Accrual Event Type: Expense Accrual
  D. Event Class: Period End Accrual Event Type: Period End Accrual
  E. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
  D. Event Class: Period End Accrual Event Type: Period End Accrual

• 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 Costs
  D. Cost Processing
  E. Work Order Costs
  F. Inventory Valuation
  C. Item Costs
  D. Cost Processing
  F. Inventory Valuation