[Feb 24, 2023] Free Oracle 1z0-1074-22 Exam Questions & Answer [Q51-Q71] – IT Certification Exam Questions & Answers

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[Feb 24, 2023] Free Oracle 1z0-1074-22 Exam Questions and Answer

Verified 1z0-1074-22 dumps Q&As Latest 1z0-1074-22 Download

Oracle 1z0-1074-22 Exam Syllabus Topics:

Topic	Details
Topic 1	Explain Common Inventory Configurations Managerial Accounting Overview Manage Daily Cost Accounting tasks
Topic 2	Configure Landed Cost Management Configure Accrue at period end
Topic 3	Explain the Role of Costing Key setups and Cost policies Explain Cost Accounting and how it integrates with other modules
Topic 4	Create Standard Costs, Resource Rates, and Overhead Rates Explain key implementation decision points
Topic 5	Costing and Inventory Foundations Receipt Accounting Overview
Topic 6	Explain the relationships of Subledger Components Describe the Receipt Accounting Work Area
Topic 7	Configure Costing methods (Standard, Perpetual, and Actual) Manage daily Receipt Accounting tasks
Topic 8	Explain the Receipt & Cost Accounting Subledger Create a Subledger Journal Entry Rule set
Topic 9	Manage Project enabled Work Orders Receipt Accounting processes

Q51. 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.

Q52. 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 matchinglines 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.

Q53. Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

It will use the work definition with the January 2, 2016effective date.

Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

It must always use the work definition with the October 1, 2015 effective date.

You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

Q54. 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 ReceivingInspection

Debit Accrued Liability, Credit Accounts Payable

Debit Receiving Inspection, Credit Accrued Liability

Debit Expense, Credit Receiving Inspection

Debit Expense, Credit Expense Accrual

Q55. Which two statements are true about Cost Accounting books? (Choose two.)

A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.

A cost organization has one book that posts to the primary ledger.

Every cost organization must use different book names; they cannot be shared.

Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

Q56. You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area. Why can’t you see this process?

Purchase order information is automatically sent to Receipt Accounting using a real-time method

This process can only be scheduled and run from the Receipt Accounting work area

You do not have the role to import purchase order information into Receipt Accounting.

All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.

Purchase order information should not be imported into Receipt Accounting.

Q57. Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

You can share definitions across multiple cost organizations.

You cancontrol which definitions are visible to different cost organizations

You can streamline your setup effort.

You have the option to share setup data across all cost organizations using the common set.

You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.

You don’t have to create any definitions for cost books.

Q58. 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 AccrualEvent 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

Q59. If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

The accounting method must have a mapping set to convert the accounts.

Accounting rules cannot override the accounting method.

The accounting method can be assigned to any ledger.

Any secondary ledger that uses the methodcannot have a COA.

The accounting method may only be used by ledgers without a COA.

Q60. Identify four characteristics of a cost element.

Users can define any number of cost elements.

It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.

It is the granularity at which costs are tracked and accounted.

It is user-defined.

The mapping of cost components into cost elements is user-defined.

It uses date effectivity.

Q61. You are explaining the characteristics of a “profit in inventory” cost element to a client. Which three statements describe true characteristics of this cost element?

It is only used when you do not need to maintain an arm’s length relationship.

It can help you understand true margins and value added by internal business units through the internal supply chain.

It can help you with consolidated financial reporting.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.

It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.

Q62. Service Appointments in a “Cannot Complete” status may indicate that an additional part or expert assistance is needed to complete the work. Universal Containers defined that Service Appointments in a “Cannot Complete” status are unable to be rescheduled or unscheduled for history tracking purposes.
Which two items should the Consultant recommend to meet the requirement?
Choose 2 answers

Define “Cannot Complete” as a Pinned Status for Auto-Dispatch Services.

Define “Cannot Complete” as a Pinned Status for Scheduling and Optimization Services.

Ensure that Status Transitions are configured to allow the status update from “Cannot Complete” to
“scheduled.”

Ensure that Status Transitions are configured to prevent the update from “Cannot Complete” to
“None.”

Q63. Universal Containers wants to provide a pro-formal invoice to their customer at the completion of a Work Order. Which three should a Consultant set up in order to achieve this requirement?

Create Work Order Line Items with Products.

Apply Price Book to the Work Order.

Create Account-wide Discounts.

AppCreate Products and Price Book Entries.

Apply Promotion to the Work Order.

Q64. Your customer wants torun a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

Inventory Account Balances Report
B COGS Account Balances Report

Revenue and COGS Matching Report

Costing Balances Report

Inventory Valuation Report

Q65. Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a businessunit?

Accrual Supplier Liability Report

Accrual Reconciliation Report

Accrual Clearing Report

Uninvoiced Receipt Accrual Report

Receipt Accounting Real Time Report

Q66. Select two ways to define the standard cost for an item from the Cost Accounting work area.

Manage the Item Cost task.

Import standard costs from receipt layers.

Manage the Standard Cost task.

Create Standard Cost in a spreadsheet.

Q67. Universal containers requires trained inspectors to make three site visits per year to inspect containers sites. These visits must be scheduled within 14 days of the inspection due date.
What are two ways s consultant can configure maintenance plans to meet the requirement? Choose 2 answer

Auto-generate work orders with a 14-day Generation horizon.

Auto-generate work orders with a 14-day Generation timeframe.

Associate a required skill called site visit to a maintenance plan.

Associate a work type called site visit to a maintenance plan.

Q68. How is the standard cost of a manufactured configured item calculated?

It is based on the material and resource requirements of a released work order.

The standard cost of a model item is calculated.

The standard cost is calculated for every possible combination of options under a model

It is based on the actual cost of the work order after it is completed.

Q69. When should both the Root Work Order and Root Work Order Line Item fields be added to page layouts?

When a service process dictates that there are more than two levels in a Work Order Hierarchy and more than a single level in the Work Order Line Hierarchy.

When a service process dictates that there is a single level in a Work Order Hierarchy and more than two levels in the Work Order Line Hierarchy.

When a service process dictates that there are two levels in a Work Order Hierarchy and two levels in the Work Order Line Hierarchy. (Parent Work Order can be used)

When a service process dictates that there are more than two levels in a Work Order Hierarchy and more than two levels in the Work Order Line Hierarchy.

Q70. 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

Rulesets that use the same chart of accounts

Q71. Identify three characteristics of cost component to cost element mapping.

You cannot modify, duplicate, or create user-defined costcomponents.

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.