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

Oracle 1Z0-1074-20 Online Questions & Answers

• Question 61:

  Which three tasks can be completed in the Receipt Accounting work area?

  A. Review and Approve Item Cost Profiles
  B. Review Item Costs
  C. Create Receipt Accounting Distributions
  D. Review Cost Accounting Distributions
  E. Manage Accrual Clearing Rules
  F. Create Accounting
  C. Create Receipt Accounting Distributions
  D. Review Cost Accounting Distributions
  E. Manage Accrual Clearing Rules

• Question 62:

  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.
  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.

• Question 63:

  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
  B. The assembly item is marked as Perpetual Average costed.
  D. The Work Definition is incomplete.

• Question 64:

  Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error. What must you do to meet your customer's requirement and resolve this error?

  A. Perform cost account validations for August in Manage Cost Accounting Periods
  B. Run the Transfer Transactions to Costing process.
  C. Close the August period; you can never have two open periods at the same time.
  D. Change the number of maximum open periods in Manage Cost Organization Relationships
  B. Run the Transfer Transactions to Costing process.

• Question 65:

  Identify four characteristics of a cost element.

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

• Question 66:

  You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly. How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?

  A. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No
  B. Run the Transfer Transactions from Inventory to Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No
  C. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No
  D. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No
  E. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No
  A. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

• Question 67:

  Identify the four types of cost adjustments.

  A. A change to a requisition after the purchase order has been created will create a cost adjustment.
  B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
  C. A standard cost update will create an inventory value adjustment.
  D. Authorized users can manually create cost adjustments.
  E. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchase order.
  F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
  A. A change to a requisition after the purchase order has been created will create a cost adjustment.
  B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
  D. Authorized users can manually create cost adjustments.
  F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

• Question 68:

  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 then others What must they do to accomplish this?

  A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
  B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
  C. They must create their valuation units manually.
  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 69:

  Identify four features provided by the Review Work Order Costs UI when displaying work order

  A. Scrap Costs
  B. Variable Costs
  C. Output Costs
  D. Incremental Costs
  E. Input Costs
  F. Standard Cost variances
  A. Scrap Costs
  C. Output Costs
  E. Input Costs
  F. Standard Cost variances

• Question 70:

  If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

  A. The accounting method must have a mapping set to convert the accounts.
  B. Accounting rules cannot override the accounting method.
  C. The accounting method can be assigned to any ledger.
  D. Any secondary ledger that uses the method cannot have a COA.
  E. The accounting method may only be used by ledgers without a COA.
  B. Accounting rules cannot override the accounting method.