Free Oracle 1Z1-1074 Exam Dumps Questions & Answers

Which two statements are true about Cost Accounting books? (Choose two.)

• A.A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
• B.Every cost organization must use different book names; they cannot be shared.
• C.Secondary books can post accounting entries into any ledger, including the primary ledgeror any secondary ledger.
• D.A cost organization has one book that posts to the primary ledger.

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 lotsdifferently then others What must they do to accomplish this?

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

You are configuring Landed Cost Management for client proof of conceptand only want to set up required tasks. Which task must be completed?

• A.Trade Operation Templates
• B.Charge Name
• C.Reference Types
• D.Trade Operation
• E.Routes

Your client wants to set up some of their items as expenseitems and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

• A.Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory AssetValue is set to "No".
• B.Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
  > Set Accrue Expense Items to At Receipt.
• C.Configure Procurement Business Function > Select the business unit > Set SelectReceipt Close Point to Accrue at Period End.
• D.Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
• E.Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
• F.Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
  > Set Accrue Expense Items to Period End.

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