Valid 1z0-1074-20 Exam Q&A PDF 1z0-1074-20 Dump is Ready (Updated 80 Questions)
Exam Questions and Answers for 1z0-1074-20 Study Guide
NEW QUESTION 26
You have an item with two work definitions. One work definition is production priority 1 and named Plan A.
Another work definition is production priority 2 and named Plan B.
In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B.
How will the application select the work definition?
- A. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
- B. The application will use the work definition that is named Plan B.
- C. The cost planning scenario will use both work definitions for the item.
- D. The application will generate an error because there are two work definitions for the same item.
- E. The scenario will choose the work definition that is production priority 1.
Answer: E
NEW QUESTION 27
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?
- A. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
- B. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
- C. Run the "Activate Accounting Methods" process.
- D. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
- E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
Answer: B,D
NEW QUESTION 28
Which two types of costs are included in the cost of contract manufactured items?
- A. The cost of resources consumed at the OEM's factory
- B. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
- C. Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
- D. The cost of the contract manufacturing service Item. This is the price that the contract
- E. The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
Answer: B,E
NEW QUESTION 29
Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?
- A. Accrual Supplier Liability Report
- B. Accrual Clearing Report
- C. Accrual Reconciliation Report
- D. Uninvoiced Receipt Accrual Report
- E. Receipt Accounting Real Time Report
Answer: C
Explanation:
https://docs.oracle.com/cloud/farel12/scmcs_gs/FAPMA/FAPMA2269725.htm#FAPMA2269725
NEW QUESTION 30
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Manage the Item Cost task.
- C. Manage the Standard Cost task.
- D. Create Standard Cost in a spreadsheet.
Answer: B,D
NEW QUESTION 31
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?
- A. Subledger Accounting is already set up to process it.
- B. Turn on the Subledger Gain or Loss Option.
- C. Create a secondary ledger to track gain/loss.
- D. Create a foreign reporting currency to track gain/loss.
Answer: D
NEW QUESTION 32
Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?
- A. Event Class: Period End Accrual Event Type: Period End Accrual
- B. Event Class: Expense Accrual Event Type: Period End Accrual
- C. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
- D. Event Class: Expense Accrual Event Type: Expense Accrual
- E. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
Answer: A
NEW QUESTION 33
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Costing Account Balances Report
- B. Inventory Valuation Report
- C. In-transit Valuation Report
- D. Cost Accounting Valuation Report
- E. Work in Process Inventory Valuation Report
- F. COGS and Revenue Matching Report
- G. Layer Inventory Valuation Report
Answer: A,C,E,F
NEW QUESTION 34
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?
- A. Debit Receiving Inspection, Credit Accrued Liability
- B. Debit Charge Account (expense or inventory), Credit Receiving Inspection
- C. Debit Expense, Credit Receiving Inspection
- D. Debit Expense, Credit Expense Accrual
- E. Debit Accrued Liability, Credit Accounts Payable
Answer: B
NEW QUESTION 35
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?
- A. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
- B. There is no difference between owned inventory and consigned inventory.
- C. The quantity is tracked in inventory but not as an asset until there is an ownership event
- D. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
- E. The liability for a consigned item occurs when there is an ownership event.
- F. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
Answer: A,B,E,F
NEW QUESTION 36
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
- A. Business Unit and Cost Organization
- B. Inventory Organization and Cost Organization
- C. Business Unit and Inventory Organization
- D. Business Unit and Legal Entity
- E. Legal Entity and Cost Organization
- F. Inventory Organization and Legal Entity
Answer: C
NEW QUESTION 37
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?
- A. Closed
- B. Open
- C. Permanently Closed
- D. Close Pending
- E. Never Opened
Answer: A
NEW QUESTION 38
In which two scenarios would you define account rules based on value sets?
- A. When there is a mapping set to convert the accounts
- B. When a secondary ledger has a different COA
- C. If a segment shares the same value set across multiple chart of accounts
- D. In the absence of a chart of accounts on the accounting method
- E. When a chart of accounts is assigned to the value set definition
Answer: A,C
NEW QUESTION 39
You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?
- A. Transfer transactions from Receiving to Costing.
- B. Execute the Preprocessor.
- C. Activate its journal entry rule set assignments.
- D. Create Accounting.
- E. Transfer costs to Cost Management.
Answer: C
NEW QUESTION 40
Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?
- A. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
- B. Review their audit receipt accrual clearing balances.
- C. Review their Receipt Accounting processes that show whether any processes failed and why.
- D. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- E. Review their accrual balances and clear them.
Answer: A,E
NEW QUESTION 41
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?
- A. Create Data Access on the Cost Accountant role for the correct inventory 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 cost organization.
- D. Create Data Access on the Accounts Payable role for the correct cost organization.
Answer: D
NEW QUESTION 42
Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?
- A. Extract distribution accounting entries.
- B. Turn off the summarize flag in the journal line rule.
- C. Turn on detailed posting for GL in the ledger setup.
- D. Turn off merge matching lines in the journal line rule.
- E. Write a custom report.
Answer: D
NEW QUESTION 43
Identify three characteristics of cost component to cost element mapping.
- A. It is one of the attributes you define as part of your cost profile definitions.
- B. It is user-defined.
- C. You can only define one cost component to cost element mapping for an installation.
- D. You cannot modify, duplicate, or create user-defined cost components.
- E. It lets you define how cost component level costs will map into cost elements.
Answer: A,B,E
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9392D04E277B3B45E040D30A68817A96
NEW QUESTION 44
Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?
- A. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.
- B. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."
- C. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
- D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
- E. Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
Answer: B
NEW QUESTION 45
What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?
- A. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
- B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
- C. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
- D. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
- E. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
Answer: E
NEW QUESTION 46
Which two statements are true about Cost Accounting books? (Choose two.)
- A. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
- B. Every cost organization must use different book names; they cannot be shared.
- C. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
- D. A cost organization has one book that posts to the primary ledger.
Answer: C,D
NEW QUESTION 47
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
- A. The assembly item is marked as Perpetual Average costed.
- B. Burdens have not been established for the item
- C. The item has no on-hand inventory.
- D. Outstanding purchase orders have not been received.
- E. The Work Definition is incomplete.
Answer: A,E
NEW QUESTION 48
After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?
- A. Retro-reprice
- B. Cost of Goods Sold
- C. Adjustments
- D. In-transit
- E. Overhead
Answer: E
NEW QUESTION 49
Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?
- A. Inventory Account Balances Report
B COGS Account Balances Report - B. Inventory Valuation Report
- C. Revenue and COGS Matching Report
- D. Costing Balances Report
Answer: A,C
NEW QUESTION 50
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