Download Oracle Cost Management Cloud 2018 Implementation Essentials.1z0-1024.VCEplus.2020-11-03.70q.vcex

Vendor: Oracle
Exam Code: 1z0-1024
Exam Name: Oracle Cost Management Cloud 2018 Implementation Essentials
Date: Nov 03, 2020
File Size: 61 KB
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Demo Questions

Question 1
If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings? (Choose three.)
  1. Refer to the Accounting Event Diagnostic report.
  2. Review errors in the Create Accounting Execution log.
  3. Review errors in the Create Accounting Execution report.
  4. Query the transaction from Review Cost Accounting Distributions to see the error message.
  5. Refer to the Accounting Event Diagnostic Log.
Correct answer: C
Question 2
Which two outcomes can happen in create accounting when an account combination returned is end dated? (Choose two.)
  1. An alternate account will be used if provided.
  2. The original account is stored on the journal line.
  3. Suspense accounts cannot be used.
  4. The preprocessor will pre-warn about this error.
  5. An error will always occur.
Correct answer: AB
Question 3
Your client wants to view Landed Cost Varinace. Which pair of search options are available to view Landed Cost Varinace?
  1. Inventory Organization and Cost Organization
  2. Inventory Organization and Legal Entity
  3. Legal Entity and Cost Organization
  4. Business Unit and Legal Entity
  5. Business Unit and Inventory Organization
  6. Business Unit and Cost Organization
Correct answer: E
Question 4
What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?
  1. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
  2. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
  3. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions 
  4. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period validation Status 
  5. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
Correct answer: B
Question 5
Identify four characteristics of a cost element. (Choose four.)
  1. The mapping of cost components into cost elements is user-defined.
  2. It uses date effectivity.
  3. It is the granularity at which costs are tracked and accounted.
  4. Users can define any number of cost elements.
  5. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
  6. It is user-defined.
Correct answer: ABEF
Question 6
In which two scenarios would you define account rules based on value sets? (Choose two.)
  1. In the absence of a chart of accounts on the accounting method
  2. When a chart of accounts is assigned to the value set definition
  3. If a segment shares the same value set across multiple chart of accounts
  4. When a secondary ledger has a different COA
  5. When there is a mapping set to convert the accounts
Correct answer: CE
Question 7
Which two statements are true about Cost Accounting books? (Choose two.)
  1. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
  2. A cost organization has one book that posts to the primary ledger.
  3. Every cost organization must use different book names; they cannot be shared.
  4. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
Correct answer: AB
Question 8
You have an item with two work definitions. One work definition is production priority 1 and named Plan A. Another work definition is production priority 2 and named Plan B. In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B. How will the application select the work definition? 
  1. The scenario will choose the work definition that is production priority 1.
  2. The cost planning scenario will use both work definitions for the item.
  3. The application will generate an error because there are two work definitions for the same item.
  4. The application will use the work definition that is named Plan B.
  5. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
Correct answer: A
Question 9
Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario. (Choose two.)
  1. Work definitions with the highest costing priority
  2. Work definitions with the lowest production priority
  3. Work definitions with specific unit numbers
  4. Work definitions without alternates
  5. Work definitions with the highest production priority
Correct answer: BC
Question 10
Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances? (Choose two.)
  1. Costing Balances Report
  2. COGS Account Balances Report
  3. Revenue and COGS Matching Report
  4. Inventory Valuation Report
  5. Inventory Account Balances Report
Correct answer: CE
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