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Title of test:
My Test IV

Description:
Oracle Cost

Author:
AVATAR

Creation Date:
16/08/2020

Category:
Computers

Number of questions: 79
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Select the two valid relationships between subledger components. (Two) The accounting method holds the accounting rules by Event Class and Event Type. The journal lines hold the journal entry rule sets. The accounting method groups journal entry rule sets by Event Class and Event Type. Journal entry rules are used to hold accounting rules. Journal entry rule sets hold journal rules and accounting rules.
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this? Material Receipts Charge Names PreReference Types Routes Trade Operation Template.
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? Query the transaction from Review Cost Accounting Distributions to see the error message. Review errors in the Create Accounting Execution report. Refer to the Accounting Event Diagnostic report. Refer to the Accounting Event Diagnostic log. Review errors in the Create Accounting Execution log.
Which two types of costs are included in the cost of contract manufactured items? (Two) 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 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 The cost of resources consumed at the OEM's factory The cost of the contract manufacturing service Item. This is the price that the contract Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
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? (Two) Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No". Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes". Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.
Identify four characteristics of a cost element. (Four) 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.
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? (Two) Change expense items to accrue at period end. Change the Purchasing Line types to 4-way match. Change the Purchasing Line types to 4-way match. Change the Purchasing Line types to 3-way match. Change the Receipt Close tolerance so it is 100 percent.
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 Accrual Event 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.
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? Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs.
Identify four processors available in the cost processor. (Four) Receipt Processor Cost Distribution Processor Cost Reports Processor Cost of Goods Sold Processor Cost Accounting Processor Costing Period Processor.
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed. How do you get the journal line rule to calculate the gain or loss? Create a foreign reporting currency to track gain/loss. Create a secondary ledger to track gain/loss. Turn on the Subledger Gain or Loss Option. Subledger Accounting is already set up to process it.
Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error. What must you do to meet your customer's requirement and resolve this error? Perform cost account validations for August in Manage Cost Accounting Periods. Run the Transfer Transactions to Costing process. Close the August period; you can never have two open periods at the same time. Change the number of maximum open periods in Manage Cost Organization Relationships.
Which two outcomes can happen in create accounting when an account combination returned is end dated? (Two) The original account is stored on the journal line. Suspense accounts cannot be used. An alternate account will be used if provided. An error will always occur. The preprocessor will pre-warn about this error.
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 method cannot have a COA. The accounting method may only be used by ledgers without a COA.
Identify three characteristics of cost component to cost element mapping. (Three) Identify three characteristics of cost component to cost element mapping. 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.
Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module? Inventory Order Management Purchasing Financial Orchestration Shipping.
Identify the four types of cost adjustments. (Four) A change to a requisition after the purchase order has been created will create a cost adjustment. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment. A standard cost update will create an inventory value adjustment. Authorized users can manually create cost adjustments. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchase order. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
Identify three Landed Cost Management tasks. (Three) Capture Charges View Rolled Up Costs Manage Cost Scenarios Perform Allocations Create Accounting Review Journal Entries.
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.
Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement? (Two) Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes". Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration? Activate its journal entry rule set assignments. Transfer costs to Cost Management. Create Accounting. Transfer transactions from Receiving to Costing. Execute the Preprocessor.
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.
Identify two characteristics of a cost profile. (Two) It is used for calculating the estimated cost of manufactured items under different scenarios. It is used for Receipt Accounting. It is where you define your Cost Accounting policies. It is where you define which cost method you want to use for the cost component to cost element mapping.
You can track costs at what granularity level in Cost Accounting for the actual costing method? Subinventory, Make, Lot, Serial Grade, Serial, Group, Lot Subinventory. Lot, Serial, Grade Grade, Subinventory, Locator, Serial Subinventory, Lot, Serial, Locator.
Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit? Accrual Supplier Liability Report Accrual Reconciliation Report Accrual Clearing Report Uninvoiced Receipt Accrual Report Receipt Accounting Real Time Report.
Identify two ways that standard cost is calculated. (Two) Users must manually enter the cost of each configured item; the calculation is not automated. The standard cost is the sum of the cost of the selected option items. The cost of a configured item is calculated based on the work definition of the model item. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes.
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? It will use the work definition with the January 2, 2016 effective 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.
When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect? Receivables invoices; actual cost can be used. Payables invoices; invoice price variance can be added to item cost. Receipt costs; costs include adjustments. Requisition costs; validated costs can be used. Purchase order costs; item catalog costs can be used.
Which three features are included in Receipt Accounting? (Three) Analyze Standard Purchase Cost Variances Create Receipt Accounting Distribution Review Item Costs Adjust Receipt Accrual Clearing Balances Review Journal Entries.
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing. (Two) Internal requisition number Shipment number Expense invoice number Bill of Lading Receipt number.
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? Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task. This requirement will already be met by the default data generated when using Quick Setup. Create the cost in Manage Cost Scenarios. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
Identify two characteristics of Landed Cost charge names. (Two) Duty is a seeded charge name for Landed Cost. You can modify a charge name until it is associated with a trade operation. Charge names cannot be used to tie an invoice to a trade operation. You can use multiple currencies within a trade operation for the same charge name on different lines. Charge names cannot be associated with a PO schedule.
Which two rules determine whether a condition has been met for accounting rules? (Two) When the condition is met, the rule associated with that priority is used. Priorities determine the order in which accounting rule conditions are examined. The conditions are evaluated in the sequence they are defined in the accounting rule. After all conditions are tested, the final resulting value is used. Use parenthesis to control the order of the condition evaluation.
In which two scenarios would you define account rules based on value sets? (Two) When a chart of accounts is assigned to the value set definition When a secondary ledger has a different COA In the absence of a chart of accounts on the accounting method When there is a mapping set to convert the accounts If a segment shares the same value set across multiple chart of accounts.
Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory. Which cost policy supports this requirement? Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory. Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory.".
There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it? Sub ledger accounting is set up to accomplish this out-of-the-box. Line Type must be set to Freight. Account Class must be set to Freight. Create a condition for a journal line for freight.
You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible? Orders Cost Scenario Charge Name Routes Trade Operation.
Identify four reasons to use the set ID when defining Cost Accounting setups. (Four) You can share definitions across multiple cost organizations. You can control 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.
You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated? (Two) Run the "Activate Accounting Methods" process. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
Identify two purposes of Sub ledger Accounting. (Two) to maintain backward compatibility to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level to calculate costs for transactions to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger to centralize accounting string generation across all modules.
Select two ways to define the standard cost for an item from the Cost Accounting work area. (Two) Manage the Item Cost task. Import standard costs from receipt layers. Manage the Standard Cost task. Create Standard Cost in a spreadsheet.
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger? Transfer to Sub ledger Accounting. Transfer transactions from payables. Transfer transactions from receiving. Create distributions. Assign accruals to purchase order transactions.
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? Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions.
Which three cost planning tasks can be performed in the Cost Accounting work area? (Three) Review Work Order Costs Review Item Costs Analyzing and Comparing Costs Estimating Standard Costs for Assemblies Manage Resource Rates Manage Cost Accounting Periods.
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? (Three) 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.
You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up. What do you need to do for your receipt to show up? Run the Transactions from Procurement to Costing process. Run the Transfer Costs from Payables to Cost Management process. Run the Create Accounting process. Run the Clear Receipt Accrual Balances process. Run the Transactions from Receiving to Costing process.
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned? (Four) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item. There is no difference between owned inventory and consigned inventory. The liability for a consigned item occurs when there is an ownership event. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction. The quantity is tracked in inventory but not as an asset until there is an ownership event. Consigned items can appear on inventory reports with information about the eventual value of the consigned item.
At what level can you define item cost profiles? Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.
A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently. Which cost period status will allow the system to perform the transaction? Open Closed Permanently Closed Never Opened Close Pending.
Landed Cost Variance Analysis can be performed based on which three dimension combinations? Business Unit/Landed Cost Charge/Cost Organization Item/Business Unit/Route Item Category/Material Supplier/Landed Cost Charge Inventory Organization/Landed Cost Charge/Third Party Supplier Item Catalog/Inventory Organization/Business Unit.
Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this? Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing.
Which two steps need to be completed to estimate landed costs? (Two) Transfer transactions from the Inventory to the Costing process. Transfer transactions from the Payables to the Costing process. Update standard costs. Allocate charges Prepare the Material Purchase Order Data process.
A chart of accounts (COA) must be specified on the accounting method for which two situations? (Two) When using ledgers that have unique accounting requirements When using account combination rules When account combination rules use constants Every accounting method should have a COA When using segment rules.
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? (Two) 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 Rule sets that use the same chart of accounts.
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.
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 Receiving Inspection Debit Accrued Liability, Credit Accounts Payable Debit Receiving Inspection, Credit Accrued Liability Debit Expense, Credit Receiving Inspection Debit Expense, Credit Expense Accrual.
Your customer wants to run 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? (Two) Inventory Account Balances Report COGS Account Balances Report Revenue and COGS Matching Report Costing Balances Report Inventory Valuation Report.
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance? Business Unit and Cost Organization Inventory Organization and Legal Entity Business Unit and Legal Entity Business Unit and Inventory Organization Legal Entity and Cost Organization Inventory Organization and Cost Organization.
After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next? In-transit Retro-reprice Adjustments Overhead Cost of Goods Sold.
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 matching lines 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.
What are three cost method choices that are available in Cost Accounting? (Three) Period end average cost Actual cost (LIFO or Last In First Out) Periodic average cost Standard cost Perpetual average cost Actual cost (FIFO or First In First Out).
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1 Copy and rename predefined subledger journal entry rule sets before modifying them. Use a different journal entry rule set for each ledger with a different accounting convention. The subledger journal entry rule set does not need the same accounting event class as the accounting method. Journal entry rule sets do not require accounting rules. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
Your client only wants to cost inventory items and third party costs. Which two modules are they required to implement to ensure this functionality? Receipt Accounting Cost Accounting Landed Cost Management Inventory Management Product Model.
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. (Two) The item has no on-hand inventory. The assembly item is marked as Perpetual Average costed. Outstanding purchase orders have not been received. The Work Definition is incomplete. Burdens have not been established for the item.
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? (Two) Review their audit receipt accrual clearing balances. 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. Review their accrual balances and clear them. Review their Receipt Accounting processes that show whether any processes failed and why. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario. (Two) Work definitions without alternates Work definitions with specific unit numbers Work definitions with the highest production priority Work definitions with the lowest production cost Work definitions with the highest costing priority.
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? Quick Setup generates valuation units so they just have to access those valuation units and make their changes. They cannot change their current configuration; data generated by Quick Setup cannot be changed. They must create their valuation units manually. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
Which three tasks can be completed in the Receipt Accounting work area? (Three) Review and Approve Item Cost Profiles Review Item Costs Create Receipt Accounting Distributions Review Cost Accounting Distributions Manage Accrual Clearing Rules Create Accounting.
Identify four features provided by the Review Work Order Costs UI when displaying work order. (Four) Scrap Costs Variable Costs Output Costs Incremental Costs Input Costs Standard Cost variances.
Which four steps need to be completed to establish standard costs for a make item? (Four) Run preprocessor. Complete cost roll-up. Publish costs. Export item costs. Add standard costs to a cost scenario. Create a new cost scenario.
Which two statements are true about Cost Accounting books? (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.
You have an item with two work definitions. One work definition is production priority 1 and named Plan A. Another work definition is production priority 2 and named Plan B. In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B. How will the application select the work definition? The scenario will choose the work definition that is production priority 1. The cost planning scenario will use both work definitions for the item. The application will generate an error because there are two work definitions for the same item. The application will use the work definition that is named Plan B. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.
Which four predefined costing reports can you use to gather information to review inventory value? (Four) Costing Account Balances Report In-transit Valuation Report COGS and Revenue Matching Report Work in Process Inventory Valuation Report Layer Inventory Valuation Report Cost Accounting Valuation Report Inventory Valuation Report.
Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions. Which subject area would you select to create this report? Receipt Accounting- Receipt Accounting Distributions Real Time Receipt Accounting- Receipt Accounting Transactions Real Time Costing- Receipt Accounting Real Time Financials-Subledger Accounting-Detail Transactions Costing-Cost Accounting Real Time.
Identify two characteristics of an expense pool. (Two) It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates. You can define the name of your expense pool, but you cannot define more than one. It is used only for analyzing gross margins on noninventory sales of services.
You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly. How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger? Run the Create Accounting for Costing process with the following parameters: • Accounting Mode = Draft • Report Style = Detail• Transfer to General Ledger = No • Post in General Ledger = No Run the Transfer Transactions from Inventory to Costing process with the following parameters: • Accounting Mode = Draft • Report Style = Detail • Transfer to General Ledger = No • Post in General Ledger = No Run the Create Cost Accounting Distribution process with the following parameters: • Accounting Mode = Draft • Report Style = Detail • Transfer to General Ledger = No • Post in General Ledger = No Run the Create Cost Accounting Distribution process with the following parameters: • Accounting Mode = Final • Report Style = No report • Transfer to General Ledger = No • Post in General Ledger = No Run the Create Accounting for Costing process with the following parameters: • Accounting Mode = Final • Report Style = No report • Transfer to General Ledger = No • Post in General Ledger = No.
Which three predefined areas can you review on the Overview page of Cost Accounting? (Three.) Purchase Variance Summary Journal Entries Item Cost Identify two reference types used to tie a receipt trade operation to an expense invoice for landing Cost Processing Work Order Costs Inventory Valuation.
Which statement is true regarding the cost cutoff date in Cost Accounting? It only affects whether or not you can process a cost adjustment. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed? Charge Name Reference Types Trade Operation Templates Routes Trade Operation.
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