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How to pass Newest 1Z0-1024 free download exam easily with less time? We provides the most valid 1Z0-1024 new questions to boost your success rate in Oracle Cloud May 12,2022 Newest 1Z0-1024 vce Oracle Cost Management Cloud 2018 Implementation Essentials exam. If you are one of the successful candidates with We 1Z0-1024 exam questions, do not hesitate to share your reviews on our Oracle Cloud materials.

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Question 1:

Which two outcomes can happen in create accounting when an account combination returned is end dated? (Choose two.)

A. An alternate account will be used if provided.

B. The original account is stored on the journal line.

C. Suspense accounts cannot be used.

D. The preprocessor will pre-warn about this error.

E. An error will always occur.

Correct Answer: AB


Question 2:

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

A. Inventory Organization and Cost Organization

B. Inventory Organization and Legal Entity

C. Legal Entity and Cost Organization

D. Business Unit and Legal Entity

E. Business Unit and Inventory Organization

F. Business Unit and Cost Organization

Correct Answer: E


Question 3:

Identify four characteristics of a cost element. (Choose four.)

A. The mapping of cost components into cost elements is user-defined.

B. It uses date effectivity.

C. It is the granularity at which costs are tracked and accounted.

D. Users can define any number of cost elements.

E. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.

F. It is user-defined.

Correct Answer: ABEF


Question 4:

Which two statements are true about Cost Accounting books? (Choose two.)

A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.

B. A cost organization has one book that posts to the primary ledger.

C. Every cost organization must use different book names; they cannot be shared.

D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

Correct Answer: AB


Question 5:

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? (Choose two.)

A. Costing Balances Report

B. COGS Account Balances Report

C. Revenue and COGS Matching Report

D. Inventory Valuation Report

E. Inventory Account Balances Report

Correct Answer: CE


Question 6:

Identify three Landed Cost Management tasks. (Choose three.)

A. Create Accounting

B. Capture Charges

C. Perform Allocations

D. View Rolled Up Costs

E. Manage Cost Scenarios

F. Review Journal Entries

Correct Answer: ABC


Question 7:

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?

A. Run the Transfer Transactions to Costing process.

B. Change the number of maximum open periods in Manage Cost Organization Relationships.

C. Close the August period; you can never have two open periods at the same time.

D. Perform cost account validations for August in Manage Cost Accounting Periods.

Correct Answer: A


Question 8:

A chart of accounts (COA) must be specific on the accounting method for which two situations? (Choose two.)

A. When using segment rules

B. When using ledgers that have unique accounting requirements

C. When using account combination rules

D. When account combination rules use constants

E. Every accounting method should have a COA.

Correct Answer: AE


Question 9:

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:

Correct Answer: A


Question 10:

Identify four processors available in the cost processor. (Choose four.)

A. Cost Distribution Processor

B. Cost Reports Processor

C. Costing Period Processor

D. Cost of Goods Sold Processor

E. Receipt Processor

F. Cost Accounting Processor

Correct Answer: ABDF


Question 11:

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this? (Choose two.)

A. Use a different journal entry rule set for each ledger with a different accounting convention.

B. The subledger journal entry rule set does not need the same accounting event class as the accounting method.

C. The subledger journal entry rule set does not need the same accounting event type as the accounting method.

D. Journal entry rule sets do not require accounting rules.

E. Copy and rename predefined subledger journal entry rule sets before modifying them.

Correct Answer: B


Question 12:

Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

A. Inventory

B. Order Management

C. Purchasing

D. Shipping

E. Financial Orchestration

Correct Answer: E


Question 13:

Select the two valid relationships between subledger components. (Choose two.)

A. Journal entry rule sets hold journal rules and accounting rules.

B. Journal entry rules are used to hold accounting rules.

C. The accounting method groups journal entry rule sets by Event Class and Event Type.

D. The accounting method holds the accounting rules by vent Class and Event Type.

E. The journal lines hold the journal entry rule sets.

Correct Answer: AC


Question 14:

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?

A. Run the Clear Receipt Accrual Balances process.

B. Run the Transfer Costs from Payables to Cost Management process.

C. Run the Transactions from Receiving to Costing process.

D. Run the Create Accounting process.

E. Run the Transactions from Procurement to Costing process.

Correct Answer: E


Question 15:

Identify two purposes of Subledger Accounting. (Choose two.)

A. To calculate costs for transactions

B. To maintain backward compatibility

C. To centralize accounting string generation across all modules

D. To create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger

E. To obtain detailed information for audit purposes since all subledger accounting is at the detail level

Correct Answer: AD