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

Oracle 1Z0-1074-20 Online Questions & Answers

• Question 51:

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

• Question 52:

  When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

  A. Receivables invoices; actual cost can be used.
  B. Payables invoices; invoice price variance can be added to item cost.
  C. Receipt costs; costs include adjustments.
  D. Requisition costs; validated costs can be used.
  E. Purchase order costs; item catalog costs can be used.
  A. Receivables invoices; actual cost can be used.

• Question 53:

  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 54:

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

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

• Question 55:

  You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

  A. Activate its journal entry rule set assignments.
  B. Transfer costs to Cost Management.
  C. Create Accounting.
  D. Transfer transactions from Receiving to Costing.
  E. Execute the Preprocessor.
  A. Activate its journal entry rule set assignments.

• Question 56:

  Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?

  A. Accrual Supplier Liability Report
  B. Accrual Reconciliation Report
  C. Accrual Clearing Report
  D. Uninvoiced Receipt Accrual Report
  E. Receipt Accounting Real Time Report
  B. Accrual Reconciliation Report

• Question 57:

  If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?

  A. Query the transaction from Review Cost Accounting Distributions to see the error message.
  B. Review errors in the Create Accounting Execution report.
  C. Refer to the Accounting Event Diagnostic report.
  D. Refer to the Accounting Event Diagnostic log.
  E. Review errors in the Create Accounting Execution log.
  B. Review errors in the Create Accounting Execution report.

• Question 58:

  Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

  A. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
  B. There is no difference between owned inventory and consigned inventory.
  C. The liability for a consigned item occurs when there is an ownership event.
  D. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
  E. The quantity is tracked in inventory but not as an asset until there is an ownership event
  F. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
  A. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
  B. There is no difference between owned inventory and consigned inventory.
  C. The liability for a consigned item occurs when there is an ownership event.
  F. Consigned items can appear on inventory reports with information about the eventual value of the consigned item

• Question 59:

  Which two types of costs are included in the cost of contract manufactured items?

  A. The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
  B. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
  C. The cost of resources consumed at the OEM's factory
  D. The cost of the contract manufacturing service Item. This is the price that the contract
  E. Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
  A. The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
  B. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items

• Question 60:

  Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

  A. You can share definitions across multiple cost organizations.
  B. You can control which definitions are visible to different cost organizations
  C. You can streamline your setup effort.
  D. You have the option to share setup data across all cost organizations using the common set.
  E. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
  F. You don't have to create any definitions for cost books.
  A. You can share definitions across multiple cost organizations.
  C. You can streamline your setup effort.
  D. You have the option to share setup data across all cost organizations using the common set.
  E. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.