[Jul 04, 2021] 1z0-1074-20 Ultimate Study Guide - SureTorrent
Ultimate Guide to Prepare 1z0-1074-20 Certification Exam for Cost Management Cloud in 2021
NEW QUESTION 11
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.
Answer: B
NEW QUESTION 12
A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?
- A. Closed
- B. Open
- C. Permanently Closed
- D. Close Pending
- E. Never Opened
Answer: A
NEW QUESTION 13
You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?
- A. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
- B. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
- C. Run the "Activate Accounting Methods" process.
- D. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
- E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
Answer: B,D
NEW QUESTION 14
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 without alternates
- B. Work definitions with the lowest production cost
- C. Work definitions with the highest production priority
- D. Work definitions with the highest costing priority
- E. Work definitions with specific unit numbers
Answer: B,E
NEW QUESTION 15
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 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
- B. 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
- C. 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
- D. 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
- E. 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
Answer: E
NEW QUESTION 16
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. Create a condition for a journal line for freight.
- B. Sub ledger accounting is set up to accomplish this out-of-the-box.
- C. Account Class must be set to Freight.
- D. Line Type must be set to Freight.
Answer: C,D
NEW QUESTION 17
In which two scenarios would you define account rules based on value sets?
- A. When there is a mapping set to convert the accounts
- B. When a secondary ledger has a different COA
- C. If a segment shares the same value set across multiple chart of accounts
- D. In the absence of a chart of accounts on the accounting method
- E. When a chart of accounts is assigned to the value set definition
Answer: A,C
NEW QUESTION 18
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?
- A. Routes
- B. Charge Names
- C. Material Receipts
- D. Trade Operation Template
- E. PreReference Types
Answer: E
NEW QUESTION 19
Identify two ways that standard cost is calculated.
- A. The standard cost is the sum of the cost of the selected option items.
- B. Users must manually enter the cost of each configured item; the calculation is not automated.
- C. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
- D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- E. The cost of a configured item is calculated based on the work definition of the model item.
Answer: A,D
NEW QUESTION 20
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 Transactions from Inventory to Costing
- B. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
- C. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
- D. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing
- E. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
- F. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
Answer: C
NEW QUESTION 21
At what level can you define item cost profiles?
- A. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
- B. Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
- C. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
- D. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.
Answer: B
NEW QUESTION 22
You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
- A. Run the Transactions from Receiving to Costing process.
- B. Run the Transactions from Procurement to Costing process.
- C. Run the Transfer Costs from Payables to Cost Management process.
- D. Run the Create Accounting process.
- E. Run the Clear Receipt Accrual Balances process.
Answer: A
NEW QUESTION 23
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?
- A. Consigned items can 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 quantity is tracked in inventory but not as an asset until there is an ownership event
- D. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
- E. The liability for a consigned item occurs when there is an ownership event.
- F. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
Answer: A,B,E,F
NEW QUESTION 24
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 the Purchasing Line types to 3-way match.
- B. Change the Receipt Close tolerance so it is 100 percent.
- C. Change inventory items to accrue at period end.
- D. Change expense items to accrue at period end.
- E. Change the Purchasing Line types to 4-way match.
Answer: A,E
NEW QUESTION 25
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are a. Why can't you see this process?
- A. Purchase order information is automatically sent to Receipt Accounting using a real-time method
- B. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
- C. You do not have the role to import purchase order information into Receipt Accounting.
- D. Purchase order information should not be imported into Receipt Accounting.
- E. This process can only be scheduled and run from the Receipt Accounting work area
Answer: A
NEW QUESTION 26
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Manage the Item Cost task.
- C. Manage the Standard Cost task.
- D. Create Standard Cost in a spreadsheet.
Answer: B,D
NEW QUESTION 27
Which two steps need to be completed to estimate landed costs?
- A. Prepare the Material Purchase Order Data process.
- B. Allocate charges
- C. Transfer transactions from the Inventory to the Costing process.
- D. Transfer transactions from the Payables to the Costing process.
- E. Update standard costs.
Answer: B,E
NEW QUESTION 28
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets where the accounting rules override the method rule set
- B. Rule sets that use the same chart of accounts
- C. Rule sets assigned to a secondary ledger with a different COA
- D. Rule sets that have a mapping set to convert the accounts
- E. Rule sets not associated with any chart of accounts
Answer: A,C
NEW QUESTION 29
Select the two valid relationships between subledger components.
- A. The accounting method groups journal entry rule sets by Event Class and Event Type.
- B. The accounting method holds the accounting rules by Event Class and Event Type.
- C. The journal lines hold the journal entry rule sets.
- D. Journal entry rule sets hold journal rules and accounting rules.
- E. Journal entry rules are used to hold accounting rules.
Answer: D,E
Explanation:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAISL/F1456683AN11328.htm
NEW QUESTION 30
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?
- A. Transfer transactions from payables.
- B. Create distributions.
- C. Transfer to Sub ledger Accounting.
- D. Transfer transactions from receiving.
- E. Assign accruals to purchase order transactions.
Answer: B
NEW QUESTION 31
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