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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify the four types of cost adjustments.

A) A change to a requisition after the purchase order has been created will create a cost adjustment.
B) A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
C) Authorized users can manually create cost adjustments.
D) 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 purchaseorder.
E) A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
F) A standard cost update will create an inventory value adjustment.

2. You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

A) Cost Scenario
B) Routes
C) Trade Operation
D) Charge Name
E) Orders

3. 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?

A) Turn off the summarize flag in the journal line rule.
B) Extract distribution accounting entries.
C) Write a custom report.
D) Turn on detailed posting for GL in the ledger setup.
E) Turn off merge matching lines in the journal line rule.

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

A) When using segment rules
B) Every accounting method should have a COA.
C) When account combination rules use constants
D) When using account combination rules
E) When using ledgers that have unique accounting requirements

5. Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

A) You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
B) You don't have to create any definitions for cost books.
C) You can share definitions across multiple cost organizations.
D) You can streamline your setup effort.
E) You can control which definitions are visible to different cost organizations
F) You have the option to share setup data across all cost organizations using the common set.

Solutions: