Latest 1z0-1074-20 Actual Free Exam Questions Updated 80 Questions
Free 1z0-1074-20 Exam Braindumps certification guide Q&A
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NEW QUESTION 46
Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?
- A. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
- B. Product Information Item > 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 At Receipt.
- D. Product Information Item > 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 Period End.
- F. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
Answer: C,E
NEW QUESTION 47
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 lots differently then others What must they do to accomplish this?
- A. They must create their valuation units manually.
- B. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
- C. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- D. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
Answer: B
NEW QUESTION 48
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets assigned to a secondary ledger with a different COA
- B. Rule sets that use the same chart of accounts
- C. Rule sets that have a mapping set to convert the accounts
- D. Rule sets where the accounting rules override the method rule set
- E. Rule sets not associated with any chart of accounts
Answer: A,D
NEW QUESTION 49
Identify two ways that standard cost is calculated.
- A. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
- B. The cost of a configured item is calculated based on the work definition of the model item.
- C. The standard cost is the sum of the cost of the selected option items.
- D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- E. Users must manually enter the cost of each configured item; the calculation is not automated.
Answer: C,D
NEW QUESTION 50
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are a. Why can't you see this process?
- A. This process can only be scheduled and run from the Receipt Accounting work area
- B. Purchase order information is automatically sent to Receipt Accounting using a real-time method
- C. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
- D. You do not have the role to import purchase order information into Receipt Accounting.
- E. Purchase order information should not be imported into Receipt Accounting.
Answer: B
NEW QUESTION 51
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. Create Accounting.
- D. Activate its journal entry rule set assignments.
- E. Transfer costs to Cost Management.
Answer: D
NEW QUESTION 52
Identify the four types of cost adjustments.
- A. A change to a requisition after the purchase order has been created will create a cost adjustment.
- B. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
- C. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchase order.
- D. A standard cost update will create an inventory value adjustment.
- E. Authorized users can manually create cost adjustments.
- F. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
Answer: A,B,E,F
NEW QUESTION 53
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. Refer to the Accounting Event Diagnostic report.
- B. Review errors in the Create Accounting Execution report.
- C. Query the transaction from Review Cost Accounting Distributions to see the error message.
- D. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.
Answer: B
NEW QUESTION 54
Which three features are included in Receipt Accounting?
- A. Analyze Standard Purchase Cost Variances
- B. Review Item Costs
- C. Review Journal Entries
- D. Adjust Receipt Accrual Clearing Balances
- E. Create Receipt Accounting Distribution
Answer: C,D,E
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-accounting.html#FAIMS1921270
NEW QUESTION 55
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 Expense, Credit Receiving Inspection
- C. Debit Expense, Credit Expense Accrual
- D. Debit Charge Account (expense or inventory), Credit Receiving Inspection
- E. Debit Accrued Liability, Credit Accounts Payable
Answer: D
NEW QUESTION 56
If the accounting method does not have an assigned chart of accounts (COA), which option is valid?
- A. Accounting rules cannot override the accounting method.
- B. The accounting method can be assigned to any ledger.
- C. The accounting method may only be used by ledgers without a COA.
- D. The accounting method must have a mapping set to convert the accounts.
- E. Any secondary ledger that uses the method cannot have a COA.
Answer: A
NEW QUESTION 57
Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)
- A. You don't have to create any definitions for cost books.
- B. You can control which definitions are visible to different cost organizations
- C. You can share definitions across multiple cost organizations.
- D. You can streamline your setup effort.
- E. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- F. You have the option to share setup data across all cost organizations using the common set.
Answer: C,D,E,F
NEW QUESTION 58
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?
- A. Routes
- B. PreReference Types
- C. Charge Names
- D. Material Receipts
- E. Trade Operation Template
Answer: B
NEW QUESTION 59
You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly.
How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?
- A. Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No
- B. Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail* Transfer to General Ledger = No * Post in General Ledger = No
- C. Run the Transfer Transactions from Inventory to Costing process with the following parameters: * Accounting Mode = Draft * Report Style = Detail * Transfer to General Ledger = No * Post in General Ledger = No
- D. Run the Create Accounting for Costing process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No
- E. Run the Create Cost Accounting Distribution process with the following parameters: * Accounting Mode = Final * Report Style = No report* Transfer to General Ledger = No* Post in General Ledger = No
Answer: B
NEW QUESTION 60
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)
- A. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing
- B. Purchase Variance Summary
- C. Journal Entries
- D. Cost Processing
- E. Work Order Costs
- F. Inventory Valuation
Answer: A,D,F
NEW QUESTION 61
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 Cost Accountant role for the correct cost organization.
- C. Create Data Access on the Accounts Payable role for the correct inventory organization.
- D. Create Data Access on the Accounts Payable role for the correct cost organization.
Answer: D
NEW QUESTION 62
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. Business Unit and Legal Entity
- C. Business Unit and Inventory Organization
- D. Inventory Organization and Cost Organization
- E. Legal Entity and Cost Organization
- F. Inventory Organization and Legal Entity
Answer: C
NEW QUESTION 63
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. These transactions will never be processed in any subsequent cost processor run.
- C. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
- D. 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: C
NEW QUESTION 64
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. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
- C. Every cost organization must use different book names; they cannot be shared.
- D. A cost organization has one book that posts to the primary ledger.
Answer: B,D
NEW QUESTION 65
Identify four processors available in the cost processor.
- A. Cost of Goods Sold Processor
- B. Costing Period Processor
- C. Receipt Processor
- D. Cost Reports Processor
- E. Cost Distribution Processor
- F. Cost Accounting Processor
Answer: A,D,E,F
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.html#FAPMA146491
NEW QUESTION 66
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Inventory Valuation Report
- B. Layer Inventory Valuation Report
- C. Costing Account Balances Report
- D. In-transit Valuation Report
- E. COGS and Revenue Matching Report
- F. Cost Accounting Valuation Report
- G. Work in Process Inventory Valuation Report
Answer: C,D,E,G
NEW QUESTION 67
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. Trade Operation
- B. Routes
- C. Charge Name
- D. Cost Scenario
- E. Orders
Answer: A
NEW QUESTION 68
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 distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- C. Review their accrual balances and clear them.
- D. 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.
- E. Review their Receipt Accounting processes that show whether any processes failed and why.
Answer: C,D
NEW QUESTION 69
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