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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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: Purchase Order Price Adjustment Event Type: Period End Accrual
B) Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
C) Event Class: Expense Accrual Event Type: Period End Accrual
D) Event Class: Expense Accrual Event Type: Expense Accrual
E) Event Class: Period End Accrual Event Type: Period End Accrual

2. Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

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

3. If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

A) The accounting method must have a mapping set to convert the accounts.
B) The accounting method may only be used by ledgers without a COA.
C) Accounting rules cannot override the accounting method.
D) The accounting method can be assigned to any ledger.
E) Any secondary ledger that uses the method cannot have a COA.

4. Which two types of costs are included in the cost of contract manufactured items?

A) Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
B) The cost of resources consumed at the OEM's factory
C) The cost of the contract manufacturing service Item. This is the price that the contract
D) 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
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

5. Select two ways to define the standard cost for an item from the Cost Accounting work area.

A) Manage the Item Cost task.
B) Create Standard Cost in a spreadsheet.
C) Import standard costs from receipt layers.
D) Manage the Standard Cost task.

Solutions: