1Z0-1074-21 100% Guarantee Download 1Z0-1074-21 Exam PDF Q&A [Nov 13, 2022]
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NEW QUESTION 13
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 Receiving Inspection, Credit Accrued Liability
- B. Debit Accrued Liability, Credit Accounts Payable
- C. Debit Expense, Credit Expense Accrual
- D. Debit Expense, Credit Receiving Inspection
- E. Debit Charge Account (expense or inventory), Credit Receiving Inspection
Answer: E
NEW QUESTION 14
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 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
- B. 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
- C. 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
- D. 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
- E. 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
Answer: C
NEW QUESTION 15
Identify four characteristics of a cost element.
- A. It is the granularity at which costs are tracked and accounted.
- B. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
- C. The mapping of cost components into cost elements is user-defined.
- D. It is user-defined.
- E. It uses date effectivity.
- F. Users can define any number of cost elements.
Answer: B,C,D,E
NEW QUESTION 16
Landed Cost Variance Analysis can be performed based on which three dimension combinations?
- A. Item Catalog/Inventory Organization/Business Unit
- B. Inventory Organization/Landed Cost Charge/Third Party Supplier
- C. Item Category/Material Supplier/Landed Cost Charge
- D. Item/Business Unit/Route
- E. Business Unit/Landed Cost Charge/Cost Organization
Answer: A
NEW QUESTION 17
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 to Sub ledger Accounting.
- B. Assign accruals to purchase order transactions.
- C. Transfer transactions from receiving.
- D. Create distributions.
- E. Transfer transactions from payables.
Answer: D
NEW QUESTION 18
Which two steps need to be completed to estimate landed costs?
- A. Transfer transactions from the Payables to the Costing process.
- B. Allocate charges
- C. Update standard costs.
- D. Prepare the Material Purchase Order Data process.
- E. Transfer transactions from the Inventory to the Costing process.
Answer: B,C
NEW QUESTION 19
You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?
- A. Trade Operation Templates
- B. Trade Operation
- C. Routes
- D. Reference Types
- E. Charge Name
Answer: D
NEW QUESTION 20
Identify four processors available in the cost processor.
- A. Costing Period Processor
- B. Cost Reports Processor
- C. Cost Accounting Processor
- D. Cost of Goods Sold Processor
- E. Receipt Processor
- F. Cost Distribution Processor
Answer: B,C,D,F
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.
NEW QUESTION 21
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 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 different business units.
Answer: A,D,E
NEW QUESTION 22
A chart of accounts (COA) must be specified on the accounting method for which two situations?
- A. When using segment rules
- B. Every accounting method should have a COA.
- C. When using account combination rules
- D. When account combination rules use constants
- E. When using ledgers that have unique accounting requirements
Answer: A,B
NEW QUESTION 23
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. Create the cost in Manage Cost Scenarios.
- B. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- C. This requirement will already be met by the default data generated when using Quick Setup.
- D. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
Answer: C
NEW QUESTION 24
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. Accounting rules cannot override the accounting method.
- C. Any secondary ledger that uses the method cannot have a COA.
- D. The accounting method can be assigned to any ledger.
- E. The accounting method may only be used by ledgers without a COA.
Answer: B
NEW QUESTION 25
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?
- A. Turn on the Subledger Gain or Loss Option.
- B. Create a secondary ledger to track gain/loss.
- C. Create a foreign reporting currency to track gain/loss.
- D. Subledger Accounting is already set up to process it.
Answer: C
NEW QUESTION 26
Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?
- A. You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.
- B. Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.
- C. It will use the work definition with the January 2, 2016 effective date.
- D. It must always use the work definition with the October 1, 2015 effective date.
Answer: A
NEW QUESTION 27
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?
- A. Material Receipts
- B. Charge Names
- C. Trade Operation Template
- D. PreReference Types
- E. Routes
Answer: D
NEW QUESTION 28
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. 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.
- B. The application will use the work definition that is named Plan B.
- 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 29
When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?
- A. Requisition costs; validated costs can be used.
- B. Purchase order costs; item catalog costs can be used.
- C. Receipt costs; costs include adjustments.
- D. Payables invoices; invoice price variance can be added to item cost.
- E. Receivables invoices; actual cost can be used.
Answer: E
NEW QUESTION 30
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