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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify two purposes of Sub ledger Accounting.

A) to calculate costs for transactions
B) to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
C) to centralize accounting string generation across all modules
D) to maintain backward compatibility
E) to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level

2. 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?(Choose Three)

A) Refer to the Accounting Event Diagnostic report.
B) Refer to the Accounting Event Diagnostic Log.
C) Review errors in the Create Accounting Execution log.
D) Review errors in the Create Accounting Execution report.
E) Query the transaction from Review Cost Accounting Distributions to see the error message.

3. Identify two ways that standard cost is calculated.

A) The cost of a configured item is calculated based on the work definition of the model item.
B) The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
C) Users must manually enter the cost of each configured item; the calculation is not automated.
D) The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
E) The standard cost is the sum of the cost of the selected option items.

4. 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) 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.
D) It must always use the work definition with the October 1, 2015 effective date.

5. After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?

A) Adjustments
B) Cost of Goods Sold
C) In-transit
D) Retro-reprice
E) Overhead

Solutions: