Oracle 1z0-1074-23 Exam : Oracle Cost Management Cloud 2023 Implementation Essentials

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Oracle 1z0-1074-23 Exam Syllabus Topics:

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

A) In-transit Valuation Report
B) Work in Process Inventory Valuation Report
C) Cost Accounting Valuation Report
D) Costing Account Balances Report
E) Layer Inventory Valuation Report
F) Inventory Valuation Report
G) COGS and Revenue Matching Report

2. 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) Product Model
B) Receipt Accounting
C) Cost Accounting
D) Landed Cost Management
E) Inventory Management

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

A) Actual cost (LIFO or Last In First Out)
B) Standard cost
C) Period end average cost
D) Periodic average cost
E) Actual cost (FIFO or First In First Out)
F) Perpetual average cost

4. 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?

A) They must create their valuation units manually.
B) They cannot change their current configuration; data generated by Quick Setup cannot be changed.
C) Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
D) Quick Setup generates valuation units so they just have to access those valuation units and make their changes.

5. 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) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
D) The liability for a consigned item occurs when there is an ownership event.
E) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
F) The quantity is tracked in inventory but not as an asset until there is an ownership event

Solutions: