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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
1. 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 audit receipt accrual clearing balances.
B) Review their Receipt Accounting processes that show whether any processes failed and why.
C) Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
D) Review their accrual balances and clear them.
E) 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.
2. You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?
A) Activate its journal entry rule set assignments.
B) Create Accounting.
C) Transfer costs to Cost Management.
D) Execute the Preprocessor.
E) Transfer transactions from Receiving to Costing.
3. 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?
A) Create Data Access on the Accounts Payable role for the correct inventory organization.
B) Create Data Access on the Accounts Payable role for the correct cost organization.
C) Create Data Access on the Cost Accountant role for the correct cost organization.
D) Create Data Access on the Cost Accountant role for the correct inventory organization.
4. What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?
A) Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
B) Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
C) Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
D) Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
E) Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
5. 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) Burdens have not been established for the item
B) The item has no on-hand inventory.
C) The Work Definition is incomplete.
D) The assembly item is marked as Perpetual Average costed.
E) Outstanding purchase orders have not been received.
Solutions:
| Question # 1 Answer: D,E | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: C,D |
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