Breathing Oracle 1z0-1074 Practice Test Online

NEW QUESTION 1
Identify two purposes of Sub ledger Accounting.

• A. to maintain backward compatibility
• B. to obtain detailed information for auditpurposes since all sub ledger accounting is at the detail level
• C. to calculate costs for transactions
• D. to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
• E. to centralize accounting string generation across all modules

Answer: CD

NEW QUESTION 2
Your customer wants to run a report to review account balances for bothinventory 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. Revenue and COGS Matching Report
• C. Costing Balances Report
• D. Inventory Valuation Report

Answer: AC

NEW QUESTION 3
Which four predefined costing reports can you use to gatherinformation to review inventory value? (Choose four.)

• A. Costing Account Balances Report
• B. In-transit Valuation Report
• C. COGS and Revenue Matching Report
• D. Work in Process Inventory Valuation Report
• E. Layer Inventory Valuation Report
• F. Cost Accounting Valuation Report
• G. Inventory Valuation Report

Answer: ABCD

NEW QUESTION 4
Your client hasaccounting rules that need specific customization. Which two options allow them to accomplish this"1

• A. Copy and rename predefined subledger journal entry rule sets before modifying them.
• B. Use a different journal entry rule set for each ledger with a different accounting convention.
• C. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
• D. Journal entry rule sets do not require accounting rules.
• E. The subledger journal entry rule set does not needthe same accounting event type as the accountingmethod.

Answer: C

NEW QUESTION 5
Which three tasks can becompleted in the Receipt Accounting work area?

• A. Review and Approve Item Cost Profiles
• B. Review Item Costs
• C. Create Receipt Accounting Distributions
• D. Review Cost Accounting Distributions
• E. Manage Accrual Clearing Rules
• F. Create Accounting

Answer: CDE

NEW QUESTION 6
Your client needs to import the relevant transactions and tax determinants for their expense items into ReceiptAccounting. What is the correct sequence of processes to accomplish this?

• 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

NEW QUESTION 7
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 Reconciliation Report
• C. Accrual Clearing Report
• D. Uninvoiced Receipt Accrual Report
• E. Receipt Accounting Real Time Report

Answer: B

Explanation:
https://docs.oracle.com/cloud/farel12/scmcs_gs/FAPMA/FAPMA2269725.htm#FAPMA2269725

NEW QUESTION 8
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 audit receipt accrual clearing balances.
• B. 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.
• C. Review their accrual balances and clear them.
• D. Review their Receipt Accounting processes that show whether any processes failed and why.
• E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

Answer: BC

NEW QUESTION 9
Which three cost planning tasks can be performed in the Cost Accounting work area?

• A. Review Work Order Costs
• B. Review Item Costs
• C. Analyzing and Comparing Costs
• D. Estimating Standard Costs for Assemblies
• E. Manage Resource Rates
• F. Manage Cost Accounting Periods

Answer: ADE

Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_C97AC111350F0D3EE040D30A68814D11

NEW QUESTION 10
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 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 cost organization.

Answer: A

NEW QUESTION 11
Which statement is true regarding the cost cutoff date in Cost Accounting?

• A. It only affects whether or not you can process a cost adjustment.
• B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoffdate is changed to a date that is later than the transaction date.
• C. Transactions with a transaction date after the cost cutoff date will not be processe
• D. These transactions will never be processed in any subsequent cost processor run.
• E. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.

Answer: B

NEW QUESTION 12
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. Query the transaction from Review Cost Accounting Distributions to see the error message.
• B. Review errors in the Create Accounting Execution report.
• C. Refer to the Accounting Event Diagnostic report.
• D. Refer to the Accounting Event Diagnostic log.E Review errors in the Create Accounting Execution log.

Answer: B

NEW QUESTION 13
Identify four reasons to usethe set ID when defining Cost Accounting setups. (Choose four)

• A. You can share definitions across multiple cost organizations.
• B. You can control which definitions are visible to different cost organizations
• C. You can streamline your setup effort.
• D. Youhave the option to share setup data across all cost organizations using the common set.
• E. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
• F. You don't have to create any definitions for cost books.

Answer: ACDE

NEW QUESTION 14
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. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
• C. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.
• D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
• E. 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."

Answer: E

NEW QUESTION 15
Your client wants to set up some of their items as expenseitems and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

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

Answer: CF

NEW QUESTION 16
You are configuring Landed Cost Management for client proof of conceptand only want to set up required tasks. Which task must be completed?

• A. Charge Name
• B. Reference Types
• C. Trade Operation Templates
• D. Routes
• E. Trade Operation

Answer: B

NEW QUESTION 17
Identify two characteristics of an expense pool. (Choose two.)

• A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto thebalance sheet as inventory value.
• B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
• C. You can define the name of your expense pool, but you cannot define more than one.
• D. It isused only for analyzing gross margins on noninventory sales of services.

Answer: AB

NEW QUESTION 18
Identify three Landed Cost Management tasks.

• A. Capture Charges
• B. View Rolled Up Costs
• C. Manage Cost Scenarios
• D. Perform Allocations
• E. Create Accounting
• F. Review Journal Entries

Answer: ADE

Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-managem

NEW QUESTION 19
You have configured the application as follows:
• Expense items are set to accrue at receipt.
• Receipt Close tolerance is set to 75 percent.
• Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes willensure the Accrue on Receipt check box is not selected by default?

• A. Change expense items to accrue at period end.
• B. Change the Purchasing Line types to 4-way match.
• C. Change inventory items to accrue at period end.
• D. Change the Purchasing Line types to 3-way match.
• E. Change the Receipt Close tolerance so it is 100 percent.

Answer: BD

NEW QUESTION 20
The process to map the APinvoices to the trade operation charges has completed. Which entity did the application use to do this?

• A. Material Receipts
• B. Charge Names
• C. PreReference Types
• D. Routes
• E. Trade Operation Template

Answer: C

NEW QUESTION 21
Identify four features provided by the Review Work Order Costs UI when displaying work order

• A. Scrap Costs
• B. Variable Costs
• C. Output Costs
• D. Incremental Costs
• E. Input Costs
• F. Standard Cost variances

Answer: ACEF

NEW QUESTION 22
Identify four characteristics of a cost element.

• A. Users can define any number of cost elements.
• B. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
• C. It is the granularity at which costs are tracked and accounted.
• D. It is user-defined.
• E. The mapping of cost components into cost elements is user-defined.
• F. It uses date effectivity.

Answer: BDEF

NEW QUESTION 23
A chart of accounts (COA) must be specified on the accounting method for which two situations?

• A. When using ledgers that have unique accounting requirements
• B. When using account combination rules
• C. When account combination rules use constants
• D. Every accounting method should have a COA.
• E. When usingsegment rules

Answer: DE

NEW QUESTION 24
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lotsdifferently then others
What must they do to accomplish this?

• A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
• B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
• C. They must create their valuation units manually.
• D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

Answer: D

NEW QUESTION 25
Identify two ways that standard cost is calculated.

• A. Users must manually enter the cost of each configured item; the calculation is not automated.
• B. The standard cost is the sum of the cost of the selected option items.
• C. The cost of a configured item is calculated based on the work definition of the model item.
• D. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
• E. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

Answer: BE

NEW QUESTION 26
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