Oracle 1Z0-1074-22 Online Practice Questions and Exam Preparation

Oracle 1Z0-1074-22 Online Questions & Answers

• Question 1:

  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 2:

  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 3:

  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 4:

  What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?

  A. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
  B. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
  C. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
  D. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
  E. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
  A. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions

• Question 5:

  Which two rules determine whether a condition has been met for accounting rules?

  A. When the condition is met, the rule associated with that priority is used.
  B. Priorities determine the order in which accounting rule conditions are examined.
  C. The conditions are evaluated in the sequence they are defined in the accounting rule.
  D. After all conditions are tested, the final resulting value is used.
  E. Use parenthesis to control the order of the condition evaluation.
  A. When the condition is met, the rule associated with that priority is used.
  C. The conditions are evaluated in the sequence they are defined in the accounting rule.

• Question 6:

  You have configured the application as follows: Expense items are set to accrue at receipt. Receipt Close tolerance is set to 75 percent. Purchasing Line types are set to 2-way match.

  When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added. Which two configurations changes will ensure the Accrue on Receipt check box is not selected by default?

  A. Change expense items to accrue at period end.
  B. Change the Purchasing Line types to 4-way match.
  C. Change inventory items to accrue at period end.
  D. Change the Purchasing Line types to 3-way match.
  E. Change the Receipt Close tolerance so it is 100 percent.
  B. Change the Purchasing Line types to 4-way match.
  D. Change the Purchasing Line types to 3-way match.

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  Explanation/Reference:

• Question 7:

  Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

  A. Business Unit and Cost Organization
  B. Inventory Organization and Legal Entity
  C. Business Unit and Legal Entity
  D. Business Unit and Inventory Organization
  E. Legal Entity and Cost Organization
  F. Inventory Organization and Cost Organization
  D. Business Unit and Inventory Organization

• Question 8:

  Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

  A. Internal requisition number
  B. Shipment number
  C. Expense invoice number
  D. Bill of Lading
  E. Receipt number
  A. Internal requisition number
  B. Shipment number

• Question 9:

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

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

• Question 10:

  In which two scenarios would you define account rules based on value sets?

  A. When a chart of accounts is assigned to the value set definition
  B. When a secondary ledger has a different COA
  C. In the absence of a chart of accounts on the accounting method
  D. When there is a mapping set to convert the accounts
  E. If a segment shares the same value set across multiple chart of accounts
  D. When there is a mapping set to convert the accounts
  E. If a segment shares the same value set across multiple chart of accounts