1z1-987 by Oracle Actual Free Exam Q&As

Question 1

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

Discussion 0

Correct Answer: B,D Vote an answer

Question 2

Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction. B. The liability for a consigned item occurs when there is an ownership event. C. There is no difference between owned inventory and consigned inventory. D. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item. E. The quantity is tracked in inventory but not as an asset until there is an ownership event F. Consigned items can appear on inventory reports with information about the eventual value of the consigned item

Discussion 0

Correct Answer: B,C,D,F Vote an answer

Question 3

Which four steps need to be completed to establish standard costs for a make item?

A. Export item costs. B. Publish costs C. Create a new cost scenario. D. Complete cost roll-up. E. Run preprocessor. F. Add standard costs to a cost scenario.

Discussion 0

Correct Answer: A,B,D,E Vote an answer

Question 4

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 5

You can track costs at what granularity level in Cost Accounting for the actual costing method?

A. Grade, Subinventory, Locator, Serial B. Subinventory, Lot, Serial, Locator C. Grade, Serial, Group, Lot D. Subinventory, Make, Lot, Serial E. Subinventory. Lot, Serial, Grade

Discussion 0

Correct Answer: E Vote an answer

Question 6

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 Expense, Credit Receiving Inspection B. Debit Charge Account (expense or inventory), Credit Receiving Inspection C. Debit Receiving Inspection, Credit Accrued Liability D. Debit Expense, Credit Expense Accrual E. Debit Accrued Liability, Credit Accounts Payable

Discussion 0

Correct Answer: B Vote an answer

Question 7

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

A. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing B. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing C. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing D. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management E. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management F. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

Discussion 0

Correct Answer: D Vote an answer

Oracle Cost Management Cloud 2017 Implementation Essentials - 1z1-987 Exam Practice Test