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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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, 2015 effective 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?

A) 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.
B) It will use the work definition with the January 2, 2016 effective date.
C) It must always use the work definition with the October 1, 2015 effective date.
D) 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.

2. 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 journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
C) Review their accrual balances and clear them.
D) Review their Receipt Accounting processes that show whether any processes failed and why.
E) Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

3. Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

A) Business Unit and Inventory Organization
B) Business Unit and Cost Organization
C) Inventory Organization and Cost Organization
D) Business Unit and Legal Entity
E) Inventory Organization and Legal Entity
F) Legal Entity and Cost Organization

4. Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

A) Create the cost in Manage Cost Scenarios.
B) This requirement will already be met by the default data generated when using Quick Setup.
C) You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
D) Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.

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

A) The accounting method may only be used by ledgers without a COA.
B) Any secondary ledger that uses the method cannot have a COA.
C) The accounting method can be assigned to any ledger.
D) Accounting rules cannot override the accounting method.
E) The accounting method must have a mapping set to convert the accounts.

Solutions: