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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify two characteristics of Landed Cost charge names.

A) Charge names cannot be used to tie an invoice to a trade operation.
B) Duty is a seeded charge name for Landed Cost.
C) You can modify a charge name until it is associated with a trade operation.
D) Charge names cannot be associated with a PO schedule.
E) You can use multiple currencies within a trade operation for the same charge name on different lines.

2. Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

A) Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
B) Review their audit receipt accrual clearing balances.
C) Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
D) Review their Receipt Accounting processes that show whether any processes failed and why.
E) Review their accrual balances and clear them.

3. Identify two characteristics of an expense pool. (Choose two.)

A) It is used only for analyzing gross margins on noninventory sales of services.
B) It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
C) It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
D) You can define the name of your expense pool, but you cannot define more than one.

4. Which statement is true regarding the cost cutoff date in Cost Accounting?

A) It only affects whether or not you can process a cost adjustment.
B) Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
C) Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
D) Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.

5. 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) 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.
B) It will use the work definition with the January 2, 2016 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.

Solutions: