Part-4:Oracle Cloud Cost Management Certifications: 1Z0-1074-20

Question 13

You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.

Which accounting entries signal this process has taken place?

Option's:

A.  Debit Charge Account (expense or inventory), Credit Receiving Inspection

B.   Debit Accrued Liability, Credit Accounts Payable

C.   Debit Receiving Inspection, Credit Accrued Liability

D.  Debit Expense, Credit Receiving Inspection

E.   Debit Expense, Credit Expense Accrual

 

 

Answer: A.

 

 

Question 14

Identify four features provided by the Review Work Order Costs UI when displaying work order ?

Option's:

A. Scrap Costs

B.   Variable Costs

C.   Output Costs

D.  Incremental Costs

E.   Input Costs

F.    Standard Cost variances

 

 

Answer: B C E F  (ACEF)

 

 

 

Question 15:

There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

Option's:

A.  Sub ledger accounting is set up to accomplish this out-of-the-box.

B.  Line Type must be set to Freight.

C.   Account Class must be set to Freight.

D.  Create a condition for a journal line for freight.

 

 

Answer: A D (BD)

 

Question 16:

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?

Option's:

A.  Create Data Access on the Accounts Payable role for the correct cost organization.

B.  Create Data Access on the Accounts Payable role for the correct inventory organization.

C.   Create Data Access on the Cost Accountant role for the correct inventory organization.

D.  Create Data Access on the Cost Accountant role for the correct cost organization.

 

 

Answer: A   (D)