[May-2024] 1z0-1074-23 Exam Dumps Pass with Updated 2024 Oracle Cost Management Cloud 2023 Implementation Essentials

Free 1z0-1074-23 Exam Dumps to Pass Exam Easily

NEW QUESTION # 34
Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

• A. Inventory Account Balances Report
  B COGS Account Balances Report
• B. Costing Balances Report
• C. Revenue and COGS Matching Report
• D. Inventory Valuation Report

Answer: B,D

NEW QUESTION # 35
Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario

• A. Work definitions with the lowest production priority
• B. Work definitions with specific unit numbers
• C. Work definitions with the highest costing priority
• D. Work definitions without alternates
• E. Work definitions with the highest production priority

Answer: C,E

NEW QUESTION # 36
Identify the four types of cost adjustments.

• A. A standard cost update will create an inventory value adjustment.
• B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
• C. A change to a requisition after the purchase order has been created will create a cost adjustment.
• D. Authorized users can manually create cost adjustments.
• E. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
• F. 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 purchaseorder.

Answer: A,B,E,F

NEW QUESTION # 37
Identify four processors available in the cost processor.

• A. Cost of Goods Sold Processor
• B. Receipt Processor
• C. Cost Reports Processor
• D. Costing Period Processor
• E. Cost Distribution Processor
• F. Cost Accounting Processor

Answer: A,C,E,F

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.

NEW QUESTION # 38
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 Clearing Report
• B. Uninvoiced Receipt Accrual Report
• C. Accrual Reconciliation Report
• D. Receipt Accounting Real Time Report
• E. Accrual Supplier Liability Report

Answer: C

Explanation:
https://docs.oracle.com/cloud/farel12/scmcs_gs/FAPMA/FAPMA2269725.htm#FAPMA2269725

NEW QUESTION # 39
There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

• A. Line Type must be set to Freight.
• B. Create a condition for a journal line for freight.
• C. Sub ledger accounting is set up to accomplish this out-of-the-box.
• D. Account Class must be set to Freight.

Answer: A,D

NEW QUESTION # 40
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 Expense, Credit Expense Accrual
• B. Debit Expense, Credit Receiving Inspection
• C. Debit Charge Account (expense or inventory), Credit Receiving Inspection
• D. Debit Accrued Liability, Credit Accounts Payable
• E. Debit Receiving Inspection, Credit Accrued Liability

Answer: C

NEW QUESTION # 41
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 distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
• C. Review their Receipt Accounting processes that show whether any processes failed and why.
• D. Review their accrual balances and clear them.
• E. 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.

Answer: D,E

NEW QUESTION # 42
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?(Choose Three)

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

Answer: B,C,E

NEW QUESTION # 43
You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?

• A. It can help you understand true margins and value added by internal business units through the internal supply chain.
• B. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
• C. It is only used when you do not need to maintain an arm's length relationship.
• D. It can help you with consolidated financial reporting.
• E. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.

Answer: A,B,D

NEW QUESTION # 44
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. After all conditions are tested, the final resulting value is used.
• C. The conditions are evaluated in the sequence they are defined in the accounting rule.
• D. Priorities determine the order in which accounting rule conditions are examined.
• E. Use parenthesis to control the order of the condition evaluation.

Answer: A,D

NEW QUESTION # 45
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

• A. Inventory Valuation
• B. Item Costs
• C. Journal Entries
• D. Purchase Variance Summary
• E. Work Order Costs
• F. Cost Processing

Answer: A,D,E

NEW QUESTION # 46
Identify three Landed Cost Management tasks.

• A. Perform Allocations
• B. Capture Charges
• C. Manage Cost Scenarios
• D. Review Journal Entries
• E. View Rolled Up Costs
• F. Create Accounting

Answer: A,B,F

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-managem

NEW QUESTION # 47
Identify two characteristics of Landed Cost charge names.

• A. Charge names cannot be associated with a PO schedule.
• B. Duty is a seeded charge name for Landed Cost.
• C. You can use multiple currencies within a trade operation for the same charge name on different lines.
• D. Charge names cannot be used to tie an invoice to a trade operation.
• E. You can modify a charge name until it is associated with a trade operation.

Answer: C,E

NEW QUESTION # 48
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

• A. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
• B. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
• C. This requirement will already be met by the default data generated when using Quick Setup.
• D. Create the cost in Manage Cost Scenarios.

Answer: C

NEW QUESTION # 49
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

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

Answer: A

NEW QUESTION # 50
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