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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
1. 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?
A) It is only used when you do not need to maintain an arm's length relationship.
B) It can help you understand true margins and value added by internal business units through the internal supply chain.
C) 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.
D) 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.
E) It can help you with consolidated financial reporting.
2. 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) Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
B) Create the cost in Manage Cost Scenarios.
C) You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
D) This requirement will already be met by the default data generated when using Quick Setup.
3. 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) It will use the work definition with the January 2, 2016 effective date.
B) 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.
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.
4. Which three features are included in Receipt Accounting?
A) Review Journal Entries
B) Create Receipt Accounting Distribution
C) Adjust Receipt Accrual Clearing Balances
D) Review Item Costs
E) Analyze Standard Purchase Cost Variances
5. 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?
A) 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
B) 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
C) 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
D) 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
E) 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
Solutions:
Question # 1 Answer: B,D,E | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A,B,C | Question # 5 Answer: A |