Part-20:Oracle Cloud Cost Management Certifications: 1Z0-1074-20

Question 74:

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? 

Option's:

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 

Answer: A

Question 75:

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? 

Option's:

A. It is only used when you do not need to maintain an arm's length relationship. 

B. It can help you understand true margins and value added by internal business units through the internal supply chain. 

C. It can help you with consolidated financial reporting. 

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 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. 

Answer: C, D & E

Question 76:

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

Option's:

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. 

Answer: A & C

Question 77:

You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated? 

Option's:

A. Run the "Activate Accounting Methods" process. 

B. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set. 

C. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process. 

D. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task 

E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task. 

Answer: B & C