Oracle 1Z0-1074-21 Exam Info and Free Practice Test PremiumVCEDump [Q33-Q47]

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Oracle 1Z0-1074-21 Exam Info and Free Practice Test PremiumVCEDump [Q33-Q47]

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Oracle 1Z0-1074-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Create Standard Costs, Resource Rates, and Overhead Rates Describe the Receipt Accounting Work Area
Topic 2	Perform Cost Accounting processes & Reporting Analyze and resolve errors and exceptions
Topic 3	Create a Subledger Journal Entry Rule set Configure Accrue at period end Manage Daily Cost Accounting tasks
Topic 4	Describe the Cost Accounting Work Area Manage daily Receipt Accounting tasks Receipt Accounting Overview
Topic 5	Explain the Role of Costing Key setups and Cost policies Analyze and resolve Standard Cost variances

NEW QUESTION 33
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?

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

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

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

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

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

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

NEW QUESTION 34
You can track costs at what granularity level in Cost Accounting for the actual costing method?

Subinventory, Make, Lot, Serial

Grade, Serial, Group, Lot

Subinventory. Lot, Serial, Grade

Grade, Subinventory, Locator, Serial

Subinventory, Lot, Serial, Locator

NEW QUESTION 35
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

Transfer to Sub ledger Accounting.

Transfer transactions from payables.

Transfer transactions from receiving.

Create distributions.

Assign accruals to purchase order transactions.

NEW QUESTION 36
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?

Rule sets assigned to a secondary ledger with a different COA

Rule sets that have a mapping set to convert the accounts

Rule sets not associated with any chart of accounts

Rule sets where the accounting rules override the method rule set

Rule sets that use the same chart of accounts

NEW QUESTION 37
Which two rules determine whether a condition has been met for accounting rules?

When the condition is met, the rule associated with that priority is used.

Priorities determine the order in which accounting rule conditions are examined.

The conditions are evaluated in the sequence they are defined in the accounting rule.

After all conditions are tested, the final resulting value is used.

Use parenthesis to control the order of the condition evaluation.

NEW QUESTION 38
Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “No”.

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to Period End.

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “Yes”.

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to At Receipt.

NEW QUESTION 39
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?

Event Class: Expense Accrual Event Type: Expense Accrual

Event Class: Period End Accrual Event Type: Period End Accrual

Event Class: Expense Accrual Event Type: Period End Accrual

Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual

Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

NEW QUESTION 40
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.

The item has no on-hand inventory.

The assembly item is marked as Perpetual Average costed.

Outstanding purchase orders have not been received.

The Work Definition is incomplete.

Burdens have not been established for the item

NEW QUESTION 41
Identify three characteristics of cost component to cost element mapping.

You cannot modify, duplicate, or create user-defined cost components.

You can only define one cost component to cost element mapping for an installation.

It is one of the attributes you define as part of your cost profile definitions.

It is user-defined.

It lets you define how cost component level costs will map into cost elements.

NEW QUESTION 42
Select the two valid relationships between subledger components.

The accounting method holds the accounting rules by Event Class and Event Type.

The journal lines hold the journal entry rule sets.

The accounting method groups journal entry rule sets by Event Class and Event Type.

Journal entry rules are used to hold accounting rules.

Journal entry rule sets hold journal rules and accounting rules.

NEW QUESTION 43
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?

Quick Setup generates valuation units so they just have to access those valuation units and make their changes.

They cannot change their current configuration; data generated by Quick Setup cannot be changed.

They must create their valuation units manually.

Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

NEW QUESTION 44
Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?

Turn off merge matching lines in the journal line rule.

Turn off the summarize flag in the journal line rule.

Write a custom report.

Turn on detailed posting for GL in the ledger setup.

Extract distribution accounting entries.

NEW QUESTION 45
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?

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

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

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

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

NEW QUESTION 46
You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

Orders

Cost Scenario

Charge Name

Routes

Trade Operation

NEW QUESTION 47
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?

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

Debit Accrued Liability, Credit Accounts Payable

Debit Receiving Inspection, Credit Accrued Liability

Debit Expense, Credit Receiving Inspection

Debit Expense, Credit Expense Accrual