Oracle 1Z0-1074 Online Practice Questions and Exam Preparation

Oracle 1Z0-1074 Online Questions & Answers

• Question 1:

  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.
  C. Update standard costs.
  D. Allocate charges

• Question 2:

  Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

  A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.
  B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
  C. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
  D. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
  E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
  F. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
  B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
  D. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

• Question 3:

  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 4:

  How is the standard cost of a manufactured configured item calculated?

  A. It is based on the material and resource requirements of a released work order.
  B. The standard cost of a model item is calculated.
  C. The standard cost is calculated for every possible combination of options under a model
  D. It is based on the actual cost of the work order after it is completed.
  B. The standard cost of a model item is calculated.

• Question 5:

  Which two statements are true about Cost Accounting books? (Choose two.)

  A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
  B. A cost organization has one book that posts to the primary ledger.
  C. Every cost organization must use different book names; they cannot be shared.
  D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
  A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
  B. A cost organization has one book that posts to the primary ledger.

• Question 6:

  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

• Question 7:

  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 8:

  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 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:

  Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain. Which pair of tasks are required to define and associate routes in Landed Cost Management?

  A. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
  B. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
  C. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
  D. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
  E. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs
  A. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.