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Guide for Oracle Cost Management Cloud 2021 Implementation Essentials

Quiz Oracle Cost Management Cloud 2021 Implementation Essentials

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/ 10

Quiz

1/10
Select the two valid relationships between subledger components.
Select the answer
2 correct answers
A.
The accounting method holds the accounting rules by Event Class and Event Type.
B.
The journal lines hold the journal entry rule sets.
C.
The accounting method groups journal entry rule sets by Event Class and Event Type.
D.
Journal entry rules are used to hold accounting rules.
E.
Journal entry rule sets hold journal rules and accounting rules.

Quiz

2/10
The process to map the AP invoices to the trade operation charges has completed. Which entity did
the application use to do this?
Select the answer
1 correct answer
A.
Material Receipts
B.
Charge Names
C.
PreReference Types
D.
Routes
E.
Trade Operation Template

Quiz

3/10
If the Create Accounting process ends with errors or warnings, which three statements outline places
you can go to get more detailed information about the specific errors and warnings?
Select the answer
1 correct answer
A.
Query the transaction from Review Cost Accounting Distributions to see the error message.
B.
Review errors in the Create Accounting Execution report.
C.
Refer to the Accounting Event Diagnostic report.
D.
Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.

Quiz

4/10
Which two types of costs are included in the cost of contract manufactured items?
Select the answer
2 correct answers
A.
The cost of Items that the contract manufacturer had to purchase to perform the contract
manufacturing service, and the cost of resources used by the contract manufacturer
B.
The cost of items that the original equipment manufacturer (OEM) owns and has provided to the
contract manufacturer for use in the process of making the output Items
C.
The cost of resources consumed at the OEM's factory
D.
The cost of the contract manufacturing service Item. This is the price that the contract
E.
Manufacturer will charge to make the outputs and would normally be enough to cover their costs
and include a fair profit.

Quiz

5/10
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?
Select the answer
2 correct answers
A.
Product Information Item > Search and select item > Specifications > Manufacturing > Verify that
Inventory Asset Value is set to "No".
B.
Manage Common Options for Payables and Procurement > Select the business unit > Expense
Accruals > Set Accrue Expense Items to Period End.
C.
Configure Procurement Business Function > Select the business unit > Set Select Receipt Close
Point to Accrue at Period End.
D.
Product Information Item > Search and select the expense item > Specifications > Manufacturing >
Verify that Inventory Asset Value is set to "Yes".
E.
Configure Procurement Business Function > Select the business unit > Set Select Receipt Close
Point to Accrue at At Receipt.
F.
Manage Common Options for Payables and Procurement > Select the business unit > Expense
Accruals > Set Accrue Expense Items to At Receipt.

Quiz

6/10
Identify four characteristics of a cost element.
Select the answer
4 correct answers
A.
Users can define any number of cost elements.
B.
It is the most granular level of cost captured by upstream systems such as procurement, accounts
payable, and manufacturing.
C.
It is the granularity at which costs are tracked and accounted.
D.
It is user-defined.
E.
The mapping of cost components into cost elements is user-defined.
F.
It uses date effectivity.

Quiz

7/10
You have configured the application as follows:
• Expense items are set to accrue at receipt.
• Receipt Close tolerance is set to 75 percent.
• Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a
line is added.
Which two configurations changes will ensure the Accrue on Receipt check box is not selected by
default?
Select the answer
2 correct answers
A.
Change expense items to accrue at period end.
B.
Change the Purchasing Line types to 4-way match.
C.
Change inventory items to accrue at period end.
D.
Change the Purchasing Line types to 3-way match.
E.
Change the Receipt Close tolerance so it is 100 percent.

Quiz

8/10
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?
Select the answer
1 correct answer
A.
Event Class: Expense Accrual Event Type: Expense Accrual
B.
Event Class: Period End Accrual Event Type: Period End Accrual
C.
Event Class: Expense Accrual Event Type: Period End Accrual
D.
Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
E.
Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

Quiz

9/10
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?
Select the answer
1 correct answer
A.
Define the route in Cost and Profit Planning and associate with the Trade Operations Template in
Landed Costs.
B.
Define the route in Functional Setup Manager and associate with Trade Operations in Landed
Costs
C.
Define the route in Functional Setup Manager and associate with Manage Charge Invoice
Associations 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

Quiz

10/10
Identify four processors available in the cost processor.
Select the answer
4 correct answers
A.
Receipt Processor
B.
Cost Distribution Processor
C.
Cost Reports Processor
D.
Cost of Goods Sold Processor
E.
Cost Accounting Processor
F.
Costing Period Processor
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