1Z1-1024 by Oracle Valid Free Exam Practice Test

Question 1

In which two scenarios would you define account rules based on value sets?

A. When a chart of accounts is assigned to the value set definition 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 there is a mapping set to convert the accounts

Correct Answer: C,E

Question 2

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. Costing Balances Report B. Inventory Account Balances Report
B COGS Account Balances Report C. Revenue and COGS Matching Report D. Inventory Valuation Report

Correct Answer: B

Question 3

Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario

A. Work definitions with specific unit numbers B. Work definitions with the lowest production cost C. Work definitions with the highest production priority D. Work definitions without alternates E. Work definitions with the highest costing priority

Correct Answer: A,B

Question 4

You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

A. Orders B. Routes C. Cost Scenario D. Trade Operation E. Charge Name

Correct Answer: A

Question 5

You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

A. Run the Transfer Costs from Payables to Cost Management process. B. Run the Create Accounting process. C. Run the Clear Receipt Accrual Balances process. D. Run the Transactions from Procurement to Costing process. E. Run the Transactions from Receiving to Costing process.

Correct Answer: D

Question 6

Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

A. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End. B. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes". C. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to Period End. D. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No". E. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt. F. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to At Receipt.

Correct Answer: A,E

Question 7

If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?

A. Review errors in the Create Accounting Execution report. B. Query the transaction from Review Cost Accounting Distributions to see the error message. C. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log. D. Refer to the Accounting Event Diagnostic report.

Correct Answer: A

Question 8

Landed Cost Variance Analysis can be performed based on which three dimension combinations?

A. Inventory Organization/Landed Cost Charge/Third Party Supplier B. Item/Business Unit/Route C. Business Unit/Landed Cost Charge/Cost Organization D. Item Category/Material Supplier/Landed Cost Charge E. Item Catalog/Inventory Organization/Business Unit

Correct Answer: E

Oracle Cost Management Cloud 2018 Implementation Essentials - 1Z1-1024 Exam Practice Test