Part-5:Oracle Cloud Cost Management Certifications: 1Z0-1074-20

Question 17

A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently. Which cost period status will allow the system to perform the transaction?

Option's:

A. Open

B. Closed

C. Permanently Closed

D. Never Opened

E. Close Pending

Answer: B (E) 

Question 18:

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  (OK)

Question 19:

Which three features are included in Receipt Accounting?

Option's:

A. Analyze Standard Purchase Cost Variances

B. Create Receipt Accounting Distribution

C. Review Item Costs

D. Adjust Receipt Accrual Clearing Balances

E. Review Journal Entries

Answer: B D E   (Ok)

Explanation

https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13update17d/faims/implementing-receipt-acco

Question 21:

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?

Option's:

A. It will use the work definition with the January 2, 2016 effective date.

B. 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.

C. It must always use the work definition with the October 1, 2015 effective date.

D. 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. 

Answer: D  (B)