Oracle 1Z0-1024 Online Practice Questions and Exam Preparation

Oracle 1Z0-1024 Online Questions & Answers

• Question 21:

  Your client wants their expense items to be accrued at receipt.

  Which two configurations support this requirement? (Choose two.)

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

• Question 22:

  Which statement is true regarding the cost cutoff date in Cost Accounting?

  A. It only affects whether or not you can process a cost adjustment.
  B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
  C. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
  D. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
  B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.

• Question 23:

  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? (Choose two.)

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

• Question 24:

  Select two ways to define the standard cost for an item from the Cost Accounting work area. (Choose two.)

  A. Manage the Standard Cost task.
  B. Create Standard Cost in spreadsheet.
  C. Import standard costs from receipt layers.
  D. Manage the Item Cost task.
  B. Create Standard Cost in spreadsheet.
  D. Manage the Item Cost task.

• Question 25:

  You have finished creating your subledger journal entry rule sets and see that they are still in the incomplete status.

  Which two steps will ensure that the journal entries are generated? (Choose two.)

  A. Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.
  B. Add the subledger journal entry rule sets to the Manage Accounting Methods task.
  C. Run the "Activate Subledger Journal Entry Rule Set Assignments" process.
  D. Run the "Activate Accounting Methods" process.
  E. Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.
  C. Run the "Activate Subledger Journal Entry Rule Set Assignments" process.
  E. Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

• Question 26:

  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?

  A. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
  B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
  C. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
  D. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period validation Status
  E. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
  B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions

• Question 27:

  Select the two valid relationships between subledger components. (Choose two.)

  A. Journal entry rule sets hold journal rules and accounting rules.
  B. Journal entry rules are used to hold accounting rules.
  C. The accounting method groups journal entry rule sets by Event Class and Event Type.
  D. The accounting method holds the accounting rules by vent Class and Event Type.
  E. The journal lines hold the journal entry rule sets.
  A. Journal entry rule sets hold journal rules and accounting rules.
  C. The accounting method groups journal entry rule sets by Event Class and Event Type.

• Question 28:

  Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead.

  How can you make sure that this requirement is met?

  A. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
  B. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
  C. This requirement will already be met by the default data generated when using Quick Setup.
  D. Create the cost in Manage Cost Scenarios.
  B. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

• Question 29:

  You are explaining the characteristics of a "profit in inventory" cost element to a client.

  Which three statements describe true characteristics of this cost element? (Choose three.)

  A. It can help you understand true margins and value added by internal business units through the internal supply chain.
  B. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
  C. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
  D. It can help you with consolidated financial reporting.
  E. It is only used when you do not need to maintain an arm's length relationship.
  A. It can help you understand true margins and value added by internal business units through the internal supply chain.
  B. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
  D. It can help you with consolidated financial reporting.

• Question 30:

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

  A. Shipment number
  B. Bill of Landing
  C. Internal requisition number
  D. Expense invoice number
  E. Receipt number
  A. Shipment number
  C. Internal requisition number