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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
B) There is no difference between owned inventory and consigned inventory.
C) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
D) The liability for a consigned item occurs when there is an ownership event.
E) The quantity is tracked in inventory but not as an asset until there is an ownership event
F) Consigned items can appear on inventory reports with information about the eventual value of the consigned item

2. You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

A) Debit Receiving Inspection, Credit Accrued Liability
B) Debit Expense, Credit Receiving Inspection
C) Debit Charge Account (expense or inventory), Credit Receiving Inspection
D) Debit Expense, Credit Expense Accrual
E) Debit Accrued Liability, Credit Accounts Payable

3. Which three tasks can be completed in the Receipt Accounting work area?

A) Create Receipt Accounting Distributions
B) Manage Accrual Clearing Rules
C) Review Item Costs
D) Review Cost Accounting Distributions
E) Create Accounting
F) Review and Approve Item Cost Profiles

4. The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A) Routes
B) PreReference Types
C) Material Receipts
D) Charge Names
E) Trade Operation Template

5. Identify four characteristics of a cost element.

A) The mapping of cost components into cost elements is user-defined.
B) It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
C) Users can define any number of cost elements.
D) It is the granularity at which costs are tracked and accounted.
E) It is user-defined.
F) It uses date effectivity.

Solutions: