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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
1. Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
A) Legal Entity and Cost Organization
B) Business Unit and Inventory Organization
C) Inventory Organization and Cost Organization
D) Inventory Organization and Legal Entity
E) Business Unit and Legal Entity
F) Business Unit and Cost Organization
2. 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.
3. When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?
A) Create Data Access on the Cost Accountant role for the correct cost organization.
B) Create Data Access on the Accounts Payable role for the correct cost organization.
C) Create Data Access on the Accounts Payable role for the correct inventory organization.
D) Create Data Access on the Cost Accountant role for the correct inventory organization.
4. If the accounting method does not have an assigned chart of accounts (COA), which option is valid?
A) The accounting method must have a mapping set to convert the accounts.
B) Any secondary ledger that uses the method cannot have a COA.
C) Accounting rules cannot override the accounting method.
D) The accounting method may only be used by ledgers without a COA.
E) The accounting method can be assigned to any ledger.
5. Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
A) Costing Account Balances Report
B) Cost Accounting Valuation Report
C) In-transit Valuation Report
D) Work in Process Inventory Valuation Report
E) Layer Inventory Valuation Report
F) Inventory Valuation Report
G) COGS and Revenue Matching Report
Solutions:
Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: E | Question # 5 Answer: A,C,E,F |