Get 1Z0-1074-21 Braindumps & 1Z0-1074-21 Real Exam Questions [Q16-Q36]

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Get 1Z0-1074-21 Braindumps & 1Z0-1074-21 Real Exam Questions

Oracle 1Z0-1074-21 Actual Questions and Braindumps

Oracle 1Z0-1074-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Explain the Role of Costing Key setups and Cost policies Analyze and resolve Standard Cost variances
Topic 2	Describe the Cost Accounting Work Area Manage daily Receipt Accounting tasks Receipt Accounting Overview
Topic 3	Describe the purpose of Cost Accounting, Receipt Accounting, and Landed Cost Explain the relationships of Subledger Components
Topic 4	Create a Subledger Journal Entry Rule set Configure Accrue at period end Manage Daily Cost Accounting tasks
Topic 5	Explain Common Projects Enabled SCM Configurations Explain key implementation decision points
Topic 6	Explain the Receipt & Cost Accounting Subledger Managerial Accounting Overview
Topic 7	Perform Cost Accounting processes & Reporting Analyze and resolve errors and exceptions
Topic 8	Create Standard Costs, Resource Rates, and Overhead Rates Describe the Receipt Accounting Work Area

NEW QUESTION 16
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?

Create a foreign reporting currency to track gain/loss.

Create a secondary ledger to track gain/loss.

Turn on the Subledger Gain or Loss Option.

Subledger Accounting is already set up to process it.

NEW QUESTION 17
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows “0” cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.

The item has no on-hand inventory.

The assembly item is marked as Perpetual Average costed.

Outstanding purchase orders have not been received.

The Work Definition is incomplete.

Burdens have not been established for the item

NEW QUESTION 18
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?

Debit Charge Account (expense or inventory), Credit Receiving Inspection

Debit Accrued Liability, Credit Accounts Payable

Debit Receiving Inspection, Credit Accrued Liability

Debit Expense, Credit Receiving Inspection

Debit Expense, Credit Expense Accrual

NEW QUESTION 19
Identify three characteristics of cost component to cost element mapping.

You cannot modify, duplicate, or create user-defined cost components.

You can only define one cost component to cost element mapping for an installation.

It is one of the attributes you define as part of your cost profile definitions.

It is user-defined.

It lets you define how cost component level costs will map into cost elements.

Explanation
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9392D04E277B3B45E040D30A68817A96

NEW QUESTION 20
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?

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

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

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

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

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

NEW QUESTION 21
You are explaining the characteristics of a “profit in inventory” cost element to a client. Which three statements describe true characteristics of this cost element?

It is only used when you do not need to maintain an arm’s length relationship.

It can help you understand true margins and value added by internal business units through the internal supply chain.

It can help you with consolidated financial reporting.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.

NEW QUESTION 22
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

Transfer to Sub ledger Accounting.

Transfer transactions from payables.

Transfer transactions from receiving.

Create distributions.

Assign accruals to purchase order transactions.

NEW QUESTION 23
Which four steps need to be completed to establish standard costs for a make item?

Run preprocessor.

Complete cost roll-up.

Publish costs

Export item costs.

Add standard costs to a cost scenario.

Create a new cost scenario.

NEW QUESTION 24
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

Internal requisition number

Shipment number

Expense invoice number

Bill of Lading

Receipt number

NEW QUESTION 25
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

Material Receipts

Charge Names

PreReference Types

Routes

Trade Operation Template

NEW QUESTION 26
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?

Rule sets assigned to a secondary ledger with a different COA

Rule sets that have a mapping set to convert the accounts

Rule sets not associated with any chart of accounts

Rule sets where the accounting rules override the method rule set

Rule sets that use the same chart of accounts

NEW QUESTION 27
Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

Inventory

Order Management

Purchasing

Financial Orchestration

Shipping

NEW QUESTION 28
If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

The accounting method must have a mapping set to convert the accounts.

Accounting rules cannot override the accounting method.

The accounting method can be assigned to any ledger.

Any secondary ledger that uses the method cannot have a COA.

The accounting method may only be used by ledgers without a COA.

NEW QUESTION 29
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

Purchase Variance Summary

Journal Entries

Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing

Cost Processing

Work Order Costs

Inventory Valuation

NEW QUESTION 30
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this”1

Copy and rename predefined subledger journal entry rule sets before modifying them.

Use a different journal entry rule set for each ledger with a different accounting convention.

The subledger journal entry rule set does not need the same accounting event class as the accounting method.

Journal entry rule sets do not require accounting rules.

The subledger journal entry rule set does not need the same accounting event type as the accounting method.

NEW QUESTION 31
You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

Activate its journal entry rule set assignments.

Transfer costs to Cost Management.

Create Accounting.

Transfer transactions from Receiving to Costing.

Execute the Preprocessor.

NEW QUESTION 32
Identify four features provided by the Review Work Order Costs UI when displaying work order

Scrap Costs

Variable Costs

Output Costs

Incremental Costs

Input Costs

Standard Cost variances

NEW QUESTION 33
When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?

Purchase order costs; item catalog costs can be used.

Receivables invoices; actual cost can be used.

Receipt costs; costs include adjustments.

Requisition costs; validated costs can be used.

Payables invoices; invoice price variance can be added to item cost.

NEW QUESTION 34
Which two statements are true about Cost Accounting books? (Choose two.)

A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.

A cost organization has one book that posts to the primary ledger.

Every cost organization must use different book names; they cannot be shared.

Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

NEW QUESTION 35
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area. Why can’t you see this process?

Purchase order information is automatically sent to Receipt Accounting using a real-time method

This process can only be scheduled and run from the Receipt Accounting work area

You do not have the role to import purchase order information into Receipt Accounting.

All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

Purchase order information should not be imported into Receipt Accounting.

NEW QUESTION 36
Which three features are included in Receipt Accounting?

Analyze Standard Purchase Cost Variances

Create Receipt Accounting Distribution

Review Item Costs

Adjust Receipt Accrual Clearing Balances

Review Journal Entries

Explanation
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acco

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