1z1-987 by Oracle Actual Free Exam Questions And Answers

Question 1

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 Expense, Credit Expense Accrual

B. Debit Receiving Inspection, Credit Accrued Liability

C. Debit Expense, Credit Receiving Inspection

D. Debit Accrued Liability, Credit Accounts Payable

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

Discussion 0

Correct Answer: E Vote an answer

Question 2

You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

A. Charge Name

B. Trade Operation

C. Orders

D. Routes

E. Cost Scenario

Discussion 0

Correct Answer: C Vote an answer

Question 3

Which three features are included in Receipt Accounting?

A. Review Journal Entries

B. Review Item Costs

C. Analyze Standard Purchase Cost Variances

D. Adjust Receipt Accrual Clearing Balances

E. Create Receipt Accounting Distribution

Discussion 0

Correct Answer: A,D,E Vote an answer

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Question 4

What are three cost method choices that are available in Cost Accounting?

A. Periodic average cost

B. Actual cost (LIFO or Last In First Out)

C. Period end average cost

D. Standard cost

E. Actual cost (FIFO or First In First Out)

F. Perpetual average cost

Discussion 0

Correct Answer: B,E,F Vote an answer

Question 5

Which three cost planning tasks can be performed in the Cost Accounting work area?

A. Review Item Costs

B. Manage Resource Rates

C. Review Work Order Costs

D. Estimating Standard Costs for Assemblies

E. Manage Cost Accounting Periods

F. Analyzing and Comparing Costs

Discussion 0

Correct Answer: B,C,D Vote an answer

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Question 6

When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?

A. Create Data Access on the Accounts Payable role for the correct inventory organization.

B. Create Data Access on the Cost Accountant role for the correct cost organization.

C. Create Data Access on the Accounts Payable role for the correct cost organization.

D. Create Data Access on the Cost Accountant role for the correct inventory organization.

Discussion 0

Correct Answer: C Vote an answer

Question 7

Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this?

A. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

B. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management

C. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

D. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management

E. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing

F. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing

Discussion 0

Correct Answer: D Vote an answer

Oracle Cost Management Cloud 2017 Implementation Essentials - 1z1-987 Exam Practice Test

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