Oracle Cloud Cost Management Certifications: 1Z0-1074-20
Question 1:
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?
accrued at period end for one of their business units. Which two configurations will support this
request?
Option's:
A. Product Information Item > Search and select item > Specifications >Manufacturing >Verify
that Inventory Asset Value is set to "No"
B. Manage Common Options for Payables and Procurement > Select the business unit > Expense
Accruals >Set Accrue Expense Items to Period End.
C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close
Point to Accrue at Period End.
D. Product Information Item > Search and select the expense item > Specifications >
Manufacturing >Verify that Inventory Asset Value is set to "Yes"
E. Configure Procurement Business Function > Select the business unit >Set Select Receipt Close
Point to Accrue at At Receipt.
F. Manage Common Options for Payables and Procurement > Select the business unit >
Expense Accruals >> Set Accrue Expense Items to At Receipt.
Answer: C F (A and B)
A. Product Information Item > Search and select item > Specifications >Manufacturing >Verify
that Inventory Asset Value is set to "No"
B. Manage Common Options for Payables and Procurement > Select the business unit > Expense
Accruals >Set Accrue Expense Items to Period End.
C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close
Point to Accrue at Period End.
D. Product Information Item > Search and select the expense item > Specifications >
Manufacturing >Verify that Inventory Asset Value is set to "Yes"
E. Configure Procurement Business Function > Select the business unit >Set Select Receipt Close
Point to Accrue at At Receipt.
F. Manage Common Options for Payables and Procurement > Select the business unit >
Expense Accruals >> Set Accrue Expense Items to At Receipt.
Answer: C F (A and B)
Question 2:
You are verifying your distributions for your transactions. You Just ran the receipt accounting
distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
Option's:
A. Run the Transactions from Procurement to Costing process.
B. Run the Transfer Costs from Payables to Cost Management process.
C. Run the Create Accounting process.
D. Run the Clear Receipt Accrual Balances process.
E. Run the Transactions from Receiving to Costing process.
Answer: A
A. Run the Transactions from Procurement to Costing process.
B. Run the Transfer Costs from Payables to Cost Management process.
C. Run the Create Accounting process.
D. Run the Clear Receipt Accrual Balances process.
E. Run the Transactions from Receiving to Costing process.
Answer: A
Question 3:
Which two steps need to be completed to estimate landed costs?
Option's:
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.
Answer: B E D E
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.
Answer: B E D E
Question 4:
Identify the four types of cost adjustments ?
Option's:
A. A change to a requisition after the purchase order has been created will create a cost adjustment.
B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can
cause a cost adjustment.
C. A standard cost update will create an inventory value adjustment.
D. Authorized users can manually create cost adjustments.
E. 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.
F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value
and the cost of goods sold.
Option's:
A. A change to a requisition after the purchase order has been created will create a cost adjustment.
B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can
cause a cost adjustment.
C. A standard cost update will create an inventory value adjustment.
D. Authorized users can manually create cost adjustments.
E. 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.
F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value
and the cost of goods sold.
Answer: A B D F.
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