1Z0-1074-21 by Oracle Actual Free Exam Q&As

Question 1

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?

A. Change the number of maximum open periods in Manage Cost Organization Relationships B. Perform cost account validations for August in Manage Cost Accounting Periods C. Close the August period; you can never have two open periods at the same time. D. Run the Transfer Transactions to Costing process.

Discussion 0

Correct Answer: D Vote an answer

Question 2

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. Create a secondary ledger to track gain/loss. B. Create a foreign reporting currency to track gain/loss. C. Turn on the Subledger Gain or Loss Option. D. Subledger Accounting is already set up to process it.

Discussion 0

Correct Answer: B Vote an answer

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

Discussion 0

Correct Answer: B,D Vote an answer

Question 4

Identify two purposes of Sub ledger Accounting.

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

Discussion 0

Correct Answer: B,C Vote an answer

Question 5

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

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

Discussion 0

Correct Answer: E Vote an answer

Question 6

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

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

Discussion 0

Correct Answer: C Vote an answer

Question 7

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 where the accounting rules override the method rule set B. Rule sets assigned to a secondary ledger with a different COA C. Rule sets that use the same chart of accounts D. Rule sets that have a mapping set to convert the accounts E. Rule sets not associated with any chart of accounts

Discussion 0

Correct Answer: A,B Vote an answer

Question 8

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. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task. C. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set. D. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process. E. Run the "Activate Accounting Methods" process.

Discussion 0

Correct Answer: C,D Vote an answer

Oracle Cost Management Cloud 2021 Implementation Essentials - 1Z0-1074-21 Exam Practice Test