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Oracle 1z0-1074-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Inventory Costing Configuration | - Cost Structures and Cost Elements
|
| Cost Accounting | - Cost Processing
|
| Cost Management Foundations | - Cost Management Architecture
|
| Receipt and Acquisition Costing | - Procurement Costing
|
| Manufacturing Cost Management | - Production Costing
|
| Cost Period Close and Reporting | - Period-End Activities
|
| Troubleshooting and Analysis | - Diagnostics and Exception Handling
|
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
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 journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
- C. Review their Receipt Accounting processes that show whether any processes failed and why.
- D. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- E. Review their accrual balances and clear them.
Correct Answer: B,E 🗳️
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 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.
- B. It can help you understand true margins and value added by internal business units through the internal supply chain.
- C. 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.
- D. It can help you with consolidated financial reporting.
- E. It is only used when you do not need to maintain an arm's length relationship.
Correct Answer: B,C,D 🗳️
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. Line Type must be set to Freight.
- C. Account Class must be set to Freight.
- D. Sub ledger accounting is set up to accomplish this out-of-the-box.
Correct Answer: B,C 🗳️
Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?
- A. Perform cost account validations for August in Manage Cost Accounting Periods
- B. Close the August period; you can never have two open periods at the same time.
- C. Change the number of maximum open periods in Manage Cost Organization Relationships
- D. Run the Transfer Transactions to Costing process.
Correct Answer: C 🗳️
Which two types of costs are included in the cost of contract manufactured items?
- A. The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
- B. The cost of resources consumed at the OEM's factory
- C. Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
- D. The cost of the contract manufacturing service Item. This is the price that the contract
- E. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
Correct Answer: A,E 🗳️
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