Question 67:
Identify four characteristics of a cost element ?
A. Users can define any number of cost elements.
B. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
C. It is the granularity at which costs are tracked and accounted.
D. It is user-defined.
E. The mapping of cost components into cost elements is user-defined.
F. It uses date effectivity.
Answer: B, D, E & F
Answer Explanation: Cost Element characteristics are 'It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing' , 'It is user-defined', 'The mapping of cost components into cost elements is user-defined' & 'It uses date effectivity'.
Question 68
You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?
Option's:
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.
Answer: C
Answer Explanation: After modification of an accounting method , we need to run the Create Accounting.
Question 69:
Which four steps need to be completed to establish standard costs for a make item?
Option's:
A. Run preprocessor.
B. Complete cost roll-up.
C. Publish costs
D. Export item costs.
E. Add standard costs to a cost scenario.
F. Create a new cost scenario.
Answer: A, B, C & D.
Answer Explanation: To establish standard cost for an make item , we need to complete first , 'Run PreProcessor' , 'Complete Cost roll-up' , 'Publish costs' & 'Export Item Costs'.
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