Certbus > Oracle > Supply Chain Management (SCM) > 1Z0-1074-20 > 1Z0-1074-20 Online Practice Questions and Answers

1Z0-1074-20 Online Practice Questions and Answers

Questions 4

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 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

C. The cost of resources consumed at the OEM's factory

D. The cost of the contract manufacturing service Item. This is the price that the contract

E. Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.

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Questions 5

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 Accounts Payable role for the correct cost organization.

B. Create Data Access on the Accounts Payable role for the correct inventory organization.

C. Create Data Access on the Cost Accountant role for the correct inventory organization.

D. Create Data Access on the Cost Accountant role for the correct cost organization.

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Questions 6

You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

A. Activate its journal entry rule set assignments.

B. Transfer costs to Cost Management.

C. Create Accounting.

D. Transfer transactions from Receiving to Costing.

E. Execute the Preprocessor.

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Questions 7

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. It will use the work definition with the January 2, 2016 effective date.

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 must always use the work definition with the October 1, 2015 effective date.

D. 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.

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Questions 8

Which two rules determine whether a condition has been met for accounting rules?

A. When the condition is met, the rule associated with that priority is used.

B. Priorities determine the order in which accounting rule conditions are examined.

C. The conditions are evaluated in the sequence they are defined in the accounting rule.

D. After all conditions are tested, the final resulting value is used.

E. Use parenthesis to control the order of the condition evaluation.

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Questions 9

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. Transfer transactions from payables.

C. Transfer transactions from receiving.

D. Create distributions.

E. Assign accruals to purchase order transactions.

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Questions 10

At what level can you define item cost profiles?

A. Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.

B. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

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.

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Questions 11

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. Open

B. Closed

C. Permanently Closed

D. Never Opened

E. Close Pending

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Questions 12

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 Costs to Cost Management

B. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

C. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing

D. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management

E. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

F. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing

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Questions 13

Which two steps need to be completed to estimate landed costs?

A. Transfer transactions from the Inventory to the Costing process.

B. Transfer transactions from the Payables to the Costing process.

C. Update standard costs.

D. Allocate charges

E. Prepare the Material Purchase Order Data process.

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Questions 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 specific unit numbers

C. Work definitions with the highest production priority

D. Work definitions with the lowest production cost

E. Work definitions with the highest costing priority

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Questions 15

Which three tasks can be completed in the Receipt Accounting work area?

A. Review and Approve Item Cost Profiles

B. Review Item Costs

C. Create Receipt Accounting Distributions

D. Review Cost Accounting Distributions

E. Manage Accrual Clearing Rules

F. Create Accounting

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Questions 16

Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

A. Costing Account Balances Report

B. In-transit Valuation Report

C. COGS and Revenue Matching Report

D. Work in Process Inventory Valuation Report

E. Layer Inventory Valuation Report

F. Cost Accounting Valuation Report

G. Inventory Valuation Report

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Questions 17

Identify two characteristics of an expense pool. (Choose two.)

A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.

B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.

C. You can define the name of your expense pool, but you cannot define more than one.

D. It is used only for analyzing gross margins on noninventory sales of services.

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Questions 18

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. Charge Name

B. Reference Types

C. Trade Operation Templates

D. Routes

E. Trade Operation

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Exam Code: 1Z0-1074-20
Exam Name: Oracle Cost Management Cloud 2020 Implementation Essentials
Last Update: Sep 07, 2023
Questions: 79 Q&As

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