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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify four features provided by the Review Work Order Costs UI when displaying work order

A) Input Costs
B) Standard Cost variances
C) Variable Costs
D) Output Costs
E) Incremental Costs
F) Scrap Costs

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

3. Which statement is true regarding the cost cutoff date in Cost Accounting?

A) Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
B) Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
C) Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
D) It only affects whether or not you can process a cost adjustment.

4. There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A) Sub ledger accounting is set up to accomplish this out-of-the-box.
B) Line Type must be set to Freight.
C) Create a condition for a journal line for freight.
D) Account Class must be set to Freight.

5. Select the two valid relationships between subledger components.

A) Journal entry rules are used to hold accounting rules.
B) The accounting method holds the accounting rules by Event Class and Event Type.
C) The accounting method groups journal entry rule sets by Event Class and Event Type.
D) Journal entry rule sets hold journal rules and accounting rules.
E) The journal lines hold the journal entry rule sets.

Solutions: