[Dec 18, 2021] Get New 1z0-1074-20 Practice Test Questions Answers
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NEW QUESTION 40
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are a. Why can't you see this process?
- A. Purchase order information should not be imported into Receipt Accounting.
- B. Purchase order information is automatically sent to Receipt Accounting using a real-time method
- C. You do not have the role to import purchase order information into Receipt Accounting.
- D. This process can only be scheduled and run from the Receipt Accounting work area
- E. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
Answer: B
NEW QUESTION 41
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. It must always use the work definition with the October 1, 2015 effective date.
- C. 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.
- D. It will use the work definition with the January 2, 2016 effective date.
Answer: A
NEW QUESTION 42
Identify two ways that standard cost is calculated.
- A. Users must manually enter the cost of each configured item; the calculation is not automated.
- B. The cost of a configured item is calculated based on the work definition of the model item.
- C. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- D. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
- E. The standard cost is the sum of the cost of the selected option items.
Answer: C,E
NEW QUESTION 43
Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)
- A. You can share definitions across multiple cost organizations.
- B. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- C. You don't have to create any definitions for cost books.
- D. You have the option to share setup data across all cost organizations using the common set.
- E. You can streamline your setup effort.
- F. You can control which definitions are visible to different cost organizations
Answer: A,B,D,E
NEW QUESTION 44
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. Subledger Accounting is already set up to process it.
- B. Create a foreign reporting currency to track gain/loss.
- C. Create a secondary ledger to track gain/loss.
- D. Turn on the Subledger Gain or Loss Option.
Answer: B
NEW QUESTION 45
Which three features are included in Receipt Accounting?
- A. Create Receipt Accounting Distribution
- B. Adjust Receipt Accrual Clearing Balances
- C. Review Journal Entries
- D. Review Item Costs
- E. Analyze Standard Purchase Cost Variances
Answer: A,B,C
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-accounting.html#FAIMS1921270
NEW QUESTION 46
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets where the accounting rules override the method rule set
- B. Rule sets not associated with any chart of accounts
- C. Rule sets that have a mapping set to convert the accounts
- D. Rule sets that use the same chart of accounts
- E. Rule sets assigned to a secondary ledger with a different COA
Answer: A,E
NEW QUESTION 47
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
- A. Business Unit and Cost Organization
- B. Business Unit and Inventory Organization
- C. Inventory Organization and Legal Entity
- D. Legal Entity and Cost Organization
- E. Inventory Organization and Cost Organization
- F. Business Unit and Legal Entity
Answer: B
NEW QUESTION 48
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 Cost Accountant role for the correct inventory organization.
- C. Create Data Access on the Accounts Payable role for the correct inventory organization.
- D. Create Data Access on the Accounts Payable role for the correct cost organization.
Answer: D
NEW QUESTION 49
Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?
- A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
- B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
- C. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.
- D. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
- E. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
- F. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
Answer: B,D
NEW QUESTION 50
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.
- A. Internal requisition number
- B. Expense invoice number
- C. Bill of Lading
- D. Shipment number
- E. Receipt number
Answer: A,D
NEW QUESTION 51
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 Cost Accounting Distribution 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 Accounting for Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail* Transfer to General Ledger = No * Post in General Ledger = No
- E. 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
Answer: D
NEW QUESTION 52
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. Create distributions.
- D. Transfer transactions from receiving.
- E. Assign accruals to purchase order transactions.
Answer: C
NEW QUESTION 53
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 with the lowest production cost
- B. Work definitions with specific unit numbers
- C. Work definitions with the highest costing priority
- D. Work definitions without alternates
- E. Work definitions with the highest production priority
Answer: A,B
NEW QUESTION 54
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Create Standard Cost in a spreadsheet.
- B. Manage the Standard Cost task.
- C. Manage the Item Cost task.
- D. Import standard costs from receipt layers.
Answer: A,C
NEW QUESTION 55
Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?
- A. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
- B. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs
- C. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
- D. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
- E. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
Answer: C
NEW QUESTION 56
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 distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- D. Review their accrual balances and clear them.
- E. Review their Receipt Accounting processes that show whether any processes failed and why.
Answer: B,D
NEW QUESTION 57
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?
- A. The quantity is tracked in inventory but not as an asset until there is an ownership event
- B. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
- C. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
- D. There is no difference between owned inventory and consigned inventory.
- E. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
- F. The liability for a consigned item occurs when there is an ownership event.
Answer: C,D,E,F
NEW QUESTION 58
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. The cost planning scenario will use both work definitions for the item.
- B. 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.
- C. The scenario will choose the work definition that is production priority 1.
- D. The application will generate an error because there are two work definitions for the same item.
- E. The application will use the work definition that is named Plan B.
Answer: C
NEW QUESTION 59
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 can help you understand true margins and value added by internal business units through the internal supply chain.
- B. It is only used when you do not need to maintain an arm's length relationship.
- 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 the same business unit.
- D. 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.
- E. It can help you with consolidated financial reporting.
Answer: C,D,E
NEW QUESTION 60
If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?
- A. Query the transaction from Review Cost Accounting Distributions to see the error message.
- B. Review errors in the Create Accounting Execution report.
- C. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log. - D. Refer to the Accounting Event Diagnostic report.
Answer: B
NEW QUESTION 61
Identify the four types of cost adjustments.
- A. Authorized users can manually create cost adjustments.
- B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
- C. A change to a requisition after the purchase order has been created will create a cost adjustment.
- D. 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 purchase order.
- E. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
- F. A standard cost update will create an inventory value adjustment.
Answer: A,B,C,E
NEW QUESTION 62
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