[Sep 05, 2022] Pass Oracle 1Z0-1074-21 Exam Info and Free Practice Test
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NEW QUESTION 36
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Layer Inventory Valuation Report
- B. Costing Account Balances Report
- C. In-transit Valuation Report
- D. Inventory Valuation Report
- E. Cost Accounting Valuation Report
- F. Work in Process Inventory Valuation Report
- G. COGS and Revenue Matching Report
Answer: B,C,F,G
NEW QUESTION 37
Which three cost planning tasks can be performed in the Cost Accounting work area?
- A. Review Item Costs
- B. Review Work Order Costs
- C. Analyzing and Comparing Costs
- D. Manage Cost Accounting Periods
- E. Manage Resource Rates
- F. Estimating Standard Costs for Assemblies
Answer: B,E,F
Explanation:
Explanation
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_C97AC111350F0D3EE040D30A68814D11
NEW QUESTION 38
You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?
- A. Create Accounting.
- B. Activate its journal entry rule set assignments.
- C. Execute the Preprocessor.
- D. Transfer transactions from Receiving to Costing.
- E. Transfer costs to Cost Management.
Answer: B
NEW QUESTION 39
Which three tasks can be completed in the Receipt Accounting work area?
- A. Create Accounting
- B. Review Item Costs
- C. Create Receipt Accounting Distributions
- D. Manage Accrual Clearing Rules
- E. Review Cost Accounting Distributions
- F. Review and Approve Item Cost Profiles
Answer: C,D,E
NEW QUESTION 40
Identify two characteristics of a cost profile.
- A. It is used for Receipt Accounting.
- B. It is used for calculating the estimated cost of manufactured items under different scenarios.
- C. It is where you define your Cost Accounting policies.
- D. It is where you define which cost method you want to use for the cost component to cost element mapping.
Answer: A,C
NEW QUESTION 41
What are three cost method choices that are available in Cost Accounting?
- A. Period end average cost
- B. Actual cost (LIFO or Last In First Out)
- C. Perpetual average cost
- D. Periodic average cost
- E. Actual cost (FIFO or First In First Out)
- F. Standard cost
Answer: B,C,E
NEW QUESTION 42
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1
- A. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
- B. Copy and rename predefined subledger journal entry rule sets before modifying them.
- C. Use a different journal entry rule set for each ledger with a different accounting convention.
- D. Journal entry rule sets do not require accounting rules.
- E. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
Answer: A
NEW QUESTION 43
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 Inventory to Costing
- C. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
- D. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
- E. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
- F. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
Answer: F
NEW QUESTION 44
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.
Answer: D
NEW QUESTION 45
Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?
- A. Financial Orchestration
- B. Shipping
- C. Purchasing
- D. Order Management
- E. Inventory
Answer: A
NEW QUESTION 46
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 Clear Receipt Accrual Balances process.
- C. Run the Create Accounting process.
- D. Run the Transactions from Procurement to Costing process.
- E. Run the Transfer Costs from Payables to Cost Management process.
Answer: A
NEW QUESTION 47
Which three features are included in Receipt Accounting?
- A. Create Receipt Accounting Distribution
- B. Review Item Costs
- C. Review Journal Entries
- D. Adjust Receipt Accrual Clearing Balances
- E. Analyze Standard Purchase Cost Variances
Answer: A,C,D
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acco
NEW QUESTION 48
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.
- A. Receipt number
- B. Internal requisition number
- C. Shipment number
- D. Expense invoice number
- E. Bill of Lading
Answer: B,C
NEW QUESTION 49
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 Receipt Accounting processes that show whether any processes failed and why.
- C. Review their accrual balances and clear them.
- D. 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.
- E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
Answer: C,D
NEW QUESTION 50
You have an item with two work definitions. One work definition is production priority 1 and named Plan A.
Another work definition is production priority 2 and named Plan B.
In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B.
How will the application select the work definition?
- A. The application will use the work definition that is named Plan B.
- B. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
- C. The application will generate an error because there are two work definitions for the same item.
- D. The cost planning scenario will use both work definitions for the item.
- E. The scenario will choose the work definition that is production priority 1.
Answer: E
NEW QUESTION 51
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