Oracle 1Z0-1074-20 Online Practice Questions and Exam Preparation

Oracle 1Z0-1074-20 Online Questions & Answers

• Question 31:

  Identify two purposes of Sub ledger Accounting.

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

• Question 32:

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

• Question 33:

  Identify two ways that standard cost is calculated.

  A. Users must manually enter the cost of each configured item; the calculation is not automated.
  B. The standard cost is the sum of the cost of the selected option items.
  C. The cost of a configured item is calculated based on the work definition of the model item.
  D. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
  E. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
  B. The standard cost is the sum of the cost of the selected option items.
  E. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

• Question 34:

  Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions. Which subject area would you select to create this report?

  A. Receipt Accounting- Receipt Accounting Distributions Real Time
  B. Receipt Accounting-- Receipt Accounting Transactions Real Time
  C. Costing -Receipt Accounting Real Time
  D. Financials-Subledger Accounting-Detail Transactions
  E. Costing-Cost Accounting Real Time
  D. Financials-Subledger Accounting-Detail Transactions

• Question 35:

  A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently. Which cost period status will allow the system to perform the transaction?

  A. Open
  B. Closed
  C. Permanently Closed
  D. Never Opened
  E. Close Pending
  B. Closed

• Question 36:

  You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up. What do you need to do for your receipt to show up?

  A. Run the Transactions from Procurement to Costing process.
  B. Run the Transfer Costs from Payables to Cost Management process.
  C. Run the Create Accounting process.
  D. Run the Clear Receipt Accrual Balances process.
  E. Run the Transactions from Receiving to Costing process.
  E. Run the Transactions from Receiving to Costing process.

• Question 37:

  You have finished creating your sub ledger 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?

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

• Question 38:

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

• Question 39:

  The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

  A. Material Receipts
  B. Charge Names
  C. PreReference Types
  D. Routes
  E. Trade Operation Template
  C. PreReference Types

• Question 40:

  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
  D. Every accounting method should have a COA.
  E. When using segment rules