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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. At what level can you define item cost profiles?

A) Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
B) 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.
C) Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
D) Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.

2. Select the two valid relationships between subledger components.

A) The accounting method groups journal entry rule sets by Event Class and Event Type.
B) Journal entry rule sets hold journal rules and accounting rules.
C) Journal entry rules are used to hold accounting rules.
D) The accounting method holds the accounting rules by Event Class and Event Type.
E) The journal lines hold the journal entry rule sets.

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

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

4. 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?

A) Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
B) Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
C) 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.
D) 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."
E) Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.

5. Which three features are included in Receipt Accounting?

A) Create Receipt Accounting Distribution
B) Adjust Receipt Accrual Clearing Balances
C) Review Item Costs
D) Analyze Standard Purchase Cost Variances
E) Review Journal Entries

Solutions: