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Oracle 1z0-1074-23 Exam Syllabus Topics:

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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?

A) It can help you understand true margins and value added by internal business units through the internal supply chain.
B) 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.
C) It is only used when you do not need to maintain an arm's length relationship.
D) It can help you with consolidated financial reporting.
E) 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.

2. Which three tasks can be completed in the Receipt Accounting work area?

A) Create Accounting
B) Review Cost Accounting Distributions
C) Create Receipt Accounting Distributions
D) Review and Approve Item Cost Profiles
E) Review Item Costs
F) Manage Accrual Clearing Rules

3. Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

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

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

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

A) Bill of Lading
B) Internal requisition number
C) Shipment number
D) Expense invoice number
E) Receipt number

Solutions: