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NEW QUESTION 42
After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?
- A. Retro-reprice
- B. Cost of Goods Sold
- C. Adjustments
- D. In-transit
- E. Overhead
Answer: E
NEW QUESTION 43
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 where the accounting rules override the method rule set
- B. Rule sets that use the same chart of accounts
- C. Rule sets assigned to a secondary ledger with a different COA
- D. Rule sets that have a mapping set to convert the accounts
- E. Rule sets not associated with any chart of accounts
Answer: A,C
NEW QUESTION 44
Which four steps need to be completed to establish standard costs for a make item?
- A. Export item costs.
- B. Run preprocessor.
- C. Publish costs
- D. Add standard costs to a cost scenario.
- E. Complete cost roll-up.
- F. Create a new cost scenario.
Answer: A,B,C,E
NEW QUESTION 45
Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)
- A. You don't have to create any definitions for cost books.
- B. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- C. You have the option to share setup data across all cost organizations using the common set.
- D. You can streamline your setup effort.
- E. You can control which definitions are visible to different cost organizations
- F. You can share definitions across multiple cost organizations.
Answer: B,C,D,F
NEW QUESTION 46
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 journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
- B. Review their audit receipt accrual clearing balances.
- C. Review their Receipt Accounting processes that show whether any processes failed and why.
- D. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- E. Review their accrual balances and clear them.
Answer: A,E
NEW QUESTION 47
Your client only wants to cost inventory items and third party costs. Which two modules are they required to implement to ensure this functionality?
- A. Receipt Accounting
- B. Inventory Management
- C. Landed Cost Management
- D. Cost Accounting
- E. Product Model
Answer: B
NEW QUESTION 48
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. Routes
- B. Charge Name
- C. Trade Operation
- D. Cost Scenario
- E. Orders
Answer: C
NEW QUESTION 49
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)
- A. Cost Processing
- B. Work Order Costs
- C. Inventory Valuation
- D. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing
- E. Journal Entries
- F. Purchase Variance Summary
Answer: A,C,D
NEW QUESTION 50
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?
- A. 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.
- B. The application will use the work definition that is named Plan B.
- C. The cost planning scenario will use both work definitions for the item.
- D. The application will generate an error because there are two work definitions for the same item.
- E. The scenario will choose the work definition that is production priority 1.
Answer: E
NEW QUESTION 51
Identify four characteristics of a cost element.
- A. It is user-defined.
- B. Users can define any number of cost elements.
- C. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
- D. It uses date effectivity.
- E. The mapping of cost components into cost elements is user-defined.
- F. It is the granularity at which costs are tracked and accounted.
Answer: A,C,D,E
NEW QUESTION 52
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. The preprocessor will pre-warn about this error.
- C. An error will always occur.
- D. Suspense accounts cannot be used.
- E. The original account is stored on the journal line.
Answer: A,E
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-setup.html#FAISL212668
NEW QUESTION 53
Identify four features provided by the Review Work Order Costs UI when displaying work order
- A. Scrap Costs
- B. Incremental Costs
- C. Input Costs
- D. Variable Costs
- E. Output Costs
- F. Standard Cost variances
Answer: A,C,E,F
NEW QUESTION 54
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.
- A. Internal requisition number
- B. Bill of Lading
- C. Expense invoice number
- D. Receipt number
- E. Shipment number
Answer: A,E
NEW QUESTION 55
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?
- A. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
- B. There is no difference between owned inventory and consigned inventory.
- C. The quantity is tracked in inventory but not as an asset until there is an ownership event
- D. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
- E. The liability for a consigned item occurs when there is an ownership event.
- F. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
Answer: A,B,E,F
NEW QUESTION 56
Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?
- A. Event Class: Period End Accrual Event Type: Period End Accrual
- B. Event Class: Expense Accrual Event Type: Period End Accrual
- C. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
- D. Event Class: Expense Accrual Event Type: Expense Accrual
- E. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
Answer: A
NEW QUESTION 57
You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?
- A. Reference Types
- B. Routes
- C. Charge Name
- D. Trade Operation
- E. Trade Operation Templates
Answer: A
NEW QUESTION 58
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?
- A. Transfer transactions from payables.
- B. Create distributions.
- C. Transfer to Sub ledger Accounting.
- D. Transfer transactions from receiving.
- E. Assign accruals to purchase order transactions.
Answer: B
NEW QUESTION 59
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 Charge Account (expense or inventory), Credit Receiving Inspection
- C. Debit Expense, Credit Receiving Inspection
- D. Debit Expense, Credit Expense Accrual
- E. Debit Accrued Liability, Credit Accounts Payable
Answer: B
NEW QUESTION 60
Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?
- A. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
- B. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
- C. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
- D. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
- E. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs
Answer: C
NEW QUESTION 61
Identify two characteristics of an expense pool. (Choose two.)
- A. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- B. It is used only for analyzing gross margins on noninventory sales of services.
- C. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
- D. You can define the name of your expense pool, but you cannot define more than one.
Answer: A,C
NEW QUESTION 62
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
- A. The assembly item is marked as Perpetual Average costed.
- B. Burdens have not been established for the item
- C. The item has no on-hand inventory.
- D. Outstanding purchase orders have not been received.
- E. The Work Definition is incomplete.
Answer: A,E
NEW QUESTION 63
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?
- A. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- B. Create the cost in Manage Cost Scenarios.
- C. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
- D. This requirement will already be met by the default data generated when using Quick Setup.
Answer: D
NEW QUESTION 64
Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?
- A. Change the number of maximum open periods in Manage Cost Organization Relationships
- B. Run the Transfer Transactions to Costing process.
- C. Perform cost account validations for August in Manage Cost Accounting Periods
- D. Close the August period; you can never have two open periods at the same time.
Answer: B
NEW QUESTION 65
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