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Oracle 1z0-1074-23 Exam Syllabus Topics:

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Landed Cost Variance Analysis can be performed based on which three dimension combinations?

A) Business Unit/Landed Cost Charge/Cost Organization
B) Item Category/Material Supplier/Landed Cost Charge
C) Item/Business Unit/Route
D) Item Catalog/Inventory Organization/Business Unit
E) Inventory Organization/Landed Cost Charge/Third Party Supplier

2. Identify the four types of cost adjustments.

A) A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
B) A change to a requisition after the purchase order has been created will create a cost adjustment.
C) When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.
D) A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
E) A standard cost update will create an inventory value adjustment.
F) Authorized users can manually create cost adjustments.

3. 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) Change the number of maximum open periods in Manage Cost Organization Relationships
B) Perform cost account validations for August in Manage Cost Accounting Periods
C) Run the Transfer Transactions to Costing process.
D) Close the August period; you can never have two open periods at the same time.

4. Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A) There is no difference between owned inventory and consigned inventory.
B) The quantity is tracked in inventory but not as an asset until there is an ownership event
C) The liability for a consigned item occurs when there is an ownership event.
D) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
E) Consigned items can appear on inventory reports with information about the eventual value of the consigned item
F) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.

5. Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

A) Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
B) Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
C) Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
D) Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
E) Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to Period End.
F) Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to At Receipt.

Solutions: