1Z1-1024 by Oracle Actual Free Exam Questions And Answers

Question 1

You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

A. Run the Create Accounting process.

B. Run the Transfer Costs from Payables to Cost Management process.

C. Run the Transactions from Receiving to Costing process.

D. Run the Transactions from Procurement to Costing process.

E. Run the Clear Receipt Accrual Balances process.

Discussion 0

Correct Answer: D Vote an answer

Question 2

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?

A. Review errors in the Create Accounting Execution report.

B. Refer to the Accounting Event Diagnostic report.

C. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.

D. Query the transaction from Review Cost Accounting Distributions to see the error message.

Discussion 0

Correct Answer: A Vote an answer

Question 3

Identify two ways that standard cost is calculated.

A. The cost of a configured item is calculated based on the work definition of the model item.

B. Users must manually enter the cost of each configured item; the calculation is not automated.

C. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.

D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

E. The standard cost is the sum of the cost of the selected option items.

Discussion 0

Correct Answer: D,E Vote an answer

Question 4

After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?

A. Overhead

B. Adjustments

C. In-transit

D. Cost of Goods Sold

E. Retro-reprice

Discussion 0

Correct Answer: A Vote an answer

Question 5

You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?

A. Run the Create Accounting process.

B. Run the Transfer Costs from Payables to Cost Management process.

C. Run the Transactions from Receiving to Costing process.

D. Run the Transactions from Procurement to Costing process.

E. Run the Clear Receipt Accrual Balances process.

Discussion 0

Correct Answer: D Vote an answer

Question 6

Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

A. Review their Receipt Accounting processes that show whether any processes failed and why.

B. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

C. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.

D. Review their audit receipt accrual clearing balances.

E. Review their accrual balances and clear them.

Discussion 0

Correct Answer: C,E Vote an answer

Question 7

Which three predefined areas can you review on the Overview page for Cost Accounting?

A. Journal Entries

B. Purchase Variance Summary

C. Item Costs

D. Work Order Costs

E. Cost Processing

F. Inventory Valuation

Discussion 0

Correct Answer: A,C,D Vote an answer

Question 8

Which four predefined costing reports can you use to gather information to review inventory value?

Oracle Cost Management Cloud 2018 Implementation Essentials - 1Z1-1024 Exam Practice Test

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