Oracle 1Z0-1024 Online Practice Questions and Exam Preparation

Oracle 1Z0-1024 Online Questions & Answers

• Question 51:

  You can track costs at what granularity level in Cost Accounting for the actual costing method?

  A. Subinventory, Lot, Serial, Grade
  B. Subinventory, Make, Lot, Serial
  C. Subinventory, Lot, Serial, Locator
  D. Grade, Subinventory, Locator, Serial
  E. Grade, Serial, Group, Lot
  A. Subinventory, Lot, Serial, Grade

• Question 52:

  Identify four characteristics of a cost element. (Choose four.)

  A. The mapping of cost components into cost elements is user-defined.
  B. It uses date effectivity.
  C. It is the granularity at which costs are tracked and accounted.
  D. Users can define any number of cost elements.
  E. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
  F. It is user-defined.
  A. The mapping of cost components into cost elements is user-defined.
  B. It uses date effectivity.
  E. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
  F. It is user-defined.

• Question 53:

  Your client originally used Quick Setup to configure Cost Accounting. However, after reviewing their costing policies, they realize that they want to cost some of their lots differently than others.

  What must they do to accomplish this?

  A. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
  B. They must create their valuation units manually.
  C. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
  D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
  D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

• Question 54:

  An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.

  How do you get the journal line rule to calculate the gain or loss?

  A. Create a foreign reporting currency to track gain/loss.
  B. Subledger Accounting is already set up to process it.
  C. Turn on the Subledger Gain or Loss Option.
  D. Create a secondary ledger to track gain/loss.
  A. Create a foreign reporting currency to track gain/loss.

• Question 55:

  Which two statements are true about Cost Accounting books? (Choose two.)

  A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
  B. A cost organization has one book that posts to the primary ledger.
  C. Every cost organization must use different book names; they cannot be shared.
  D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
  A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
  B. A cost organization has one book that posts to the primary ledger.

• Question 56:

  Identify four processors available in the cost processor. (Choose four.)

  A. Cost Distribution Processor
  B. Cost Reports Processor
  C. Costing Period Processor
  D. Cost of Goods Sold Processor
  E. Receipt Processor
  F. Cost Accounting Processor
  A. Cost Distribution Processor
  B. Cost Reports Processor
  D. Cost of Goods Sold Processor
  F. Cost Accounting Processor

• Question 57:

  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?

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

• Question 58:

  Which two steps need to be completed to estimate landed costs? (Choose two.)

  A. Prepare the Material Purchase Order Data process.
  B. Transfer transactions from the Inventory to the Costing process.
  C. Allocate charges.
  D. Update standard costs.
  E. Transfer transactions from the Payables to the Costing process.
  C. Allocate charges.
  D. Update standard costs.

• Question 59:

  You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks.

  Which task must be completed?

  A. Charge Name
  B. Reference Types
  C. Trade Operation Templates
  D. Routes
  E. Trade Operation
  B. Reference Types

• Question 60:

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

  A. Subledger accounting is set up to accomplish this out-of-the-box.
  B. Create a condition for a journal line for freight.
  C. Account Class must be set to Freight.
  D. Line Type must be set to Freight.
  C. Account Class must be set to Freight.
  D. Line Type must be set to Freight.