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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which two outcomes can happen in create accounting when an account combination returned is end dated?

A) An alternate account will be used if provided.
B) Suspense accounts cannot be used.
C) The original account is stored on the journal line.
D) The preprocessor will pre-warn about this error.
E) An error will always occur.

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

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

4. Your client has accounting rules that need specific customization. Which two options allow them to accomplish this? (Choose two)

A) Use a different journal entry rule set for each ledger with a different accounting convention.
B) Journal entry rule sets do not require accounting rules.
C) Copy and rename predefined subledger journal entry rule sets before modifying them.
D) The subledger journal entry rule set does not need the same accounting event class as the accounting method.
E) The subledger journal entry rule set does not need the same accounting event type as the accounting method.

5. 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.

Solutions:

Question # 1 Answer: A,C

Question # 2 Answer: E

Question # 3 Answer: A,E

Question # 4 Answer: D,E

Question # 5 Answer: A,B,D