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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which three cost planning tasks can be performed in the Cost Accounting work area?

A) Analyzing and Comparing Costs
B) Review Work Order Costs
C) Manage Resource Rates
D) Review Item Costs
E) Management Cost Accounting Periods
F) Estimating Standard Costs for Assemblies

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

A) 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.
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) It only affects whether or not you can process a cost adjustment.
D) 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.

3. Identify four characteristics of a cost element.

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

4. 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) It must always use the work definition with the October 1, 2015 effective date.
B) 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.
C) It will use the work definition with the January 2, 2016 effective date.
D) 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.

5. There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A) Sub ledger accounting is set up to accomplish this out-of-the-box.
B) Line Type must be set to Freight.
C) Account Class must be set to Freight.
D) Create a condition for a journal line for freight.

Solutions: