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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?

A) Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
B) Event Class: Expense Accrual Event Type: Expense Accrual
C) Event Class: Expense Accrual Event Type: Period End Accrual
D) Event Class: Period End Accrual Event Type: Period End Accrual
E) Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual

2. Which two types of costs are included in the cost of contract manufactured items?

A) Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.
B) The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
C) The cost of resources consumed at the OEM's factory
D) The cost of the contract manufacturing service Item. This is the price that the contract
E) The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer

3. When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?

A) Create Data Access on the Cost Accountant role for the correct cost organization.
B) Create Data Access on the Accounts Payable role for the correct cost organization.
C) Create Data Access on the Accounts Payable role for the correct inventory organization.
D) Create Data Access on the Cost Accountant role for the correct inventory organization.

4. Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?

A) Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
B) Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
C) They must create their valuation units manually.
D) They cannot change their current configuration; data generated by Quick Setup cannot be changed.

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

Solutions: