Oracle Oracle Certifications 1Z0-1074-20 Questions & Answers

• Question 21:

  You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly. Identify two reasons this happened.

  A. The item has no on-hand inventory.

  B. The assembly item is marked as Perpetual Average costed.

  C. Outstanding purchase orders have not been received.

  D. The Work Definition is incomplete.

  E. Burdens have not been established for the item

  Correct Answer: BD

• Question 22:

  Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

  A. Review their audit receipt accrual clearing balances.

  B. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.

  C. Review their accrual balances and clear them.

  D. Review their Receipt Accounting processes that show whether any processes failed and why.

  E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

  Correct Answer: BC

• Question 23:

  Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this?

  A. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management

  B. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

  C. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing

  D. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management

  E. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

  F. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing

  Correct Answer: A

• Question 24:

  Which two steps need to be completed to estimate landed costs?

  A. Transfer transactions from the Inventory to the Costing process.

  B. Transfer transactions from the Payables to the Costing process.

  C. Update standard costs.

  D. Allocate charges

  E. Prepare the Material Purchase Order Data process.

  Correct Answer: CD

• Question 25:

  A chart of accounts (COA) must be specified on the accounting method for which two situations?

  A. When using ledgers that have unique accounting requirements

  B. When using account combination rules

  C. When account combination rules use constants

  D. Every accounting method should have a COA.

  E. When using segment rules

  Correct Answer: DE

• Question 26:

  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?

  A. Rule sets assigned to a secondary ledger with a different COA

  B. Rule sets that have a mapping set to convert the accounts

  C. Rule sets not associated with any chart of accounts

  D. Rule sets where the accounting rules override the method rule set

  E. Rule sets that use the same chart of accounts

  Correct Answer: AD

• Question 27:

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

  A. Why can't you see this process?

  B. Purchase order information is automatically sent to Receipt Accounting using a real-time method

  C. This process can only be scheduled and run from the Receipt Accounting work area

  D. You do not have the role to import purchase order information into Receipt Accounting.

  E. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

  F. Purchase order information should not be imported into Receipt Accounting.

  Correct Answer: A

• Question 28:

  You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created. Which accounting entries signal this process has taken place?

  A. Debit Charge Account (expense or inventory), Credit Receiving Inspection

  B. Debit Accrued Liability, Credit Accounts Payable

  C. Debit Receiving Inspection, Credit Accrued Liability

  D. Debit Expense, Credit Receiving Inspection

  E. Debit Expense, Credit Expense Accrual

  Correct Answer: A

• Question 29:

  Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

  A. Inventory Account Balances Report

  B. COGS Account Balances Report

  C. Revenue and COGS Matching Report

  D. Costing Balances Report

  E. Inventory Valuation Report

  Correct Answer: AC

• Question 30:

  At what level can you define item cost profiles?

  A. Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.

  B. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

  C. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.

  D. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.

  Correct Answer: A