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NEW QUESTION 1
A chart of accounts (COA) must be specified on the accounting method for which two situations?
- A. When using ledgers that have unique accounting requirements
- B. When using account combination rules
- C. When account combination rules use constants
- D. Every accounting method should have a COA.
- E. When usingsegment rules
Answer: DE
NEW QUESTION 2
You have just finished modifying an accounting method. What is thefinal step to complete the accounting method configuration?
- A. Activate its journal entry rule set assignments.
- B. Transfer costs to Cost Management.
- C. Create Accounting.
- D. Transfer transactions from Receiving to Costing.
- E. Execute thePreprocessor.
Answer: A
NEW QUESTION 3
Which three features are included in Receipt Accounting?
- A. Analyze Standard Purchase Cost Variances
- B. Create ReceiptAccounting Distribution
- C. Review Item Costs
- D. Adjust Receipt Accrual Clearing Balances
- E. Review Journal Entries
Answer: BDE
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acc
NEW QUESTION 4
You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?
- A. Run the "Activate Accounting Methods" process.
- B. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
- C. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
- D. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
- E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
Answer: BC
NEW QUESTION 5
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However,item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
- A. The item has no on-hand inventory.
- B. The assembly item is marked as Perpetual Average costed.
- C. Outstanding purchase orders have not been received.
- D. The Work Definition is incomplete.
- E. Burdens have not been established for the item
Answer: BD
NEW QUESTION 6
Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?
- A. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
- B. There is no difference between owned inventory and consigned inventory.
- C. The liability for a consigned item occurs when there is an ownership event.
- D. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
- 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
Answer: ABCF
NEW QUESTION 7
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?
- A. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- B. This requirement will already be met by the default data generated when using Quick Setup.
- C. Create the cost in Manage Cost Scenarios.
- D. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
Answer: B
NEW QUESTION 8
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Manage the Item Cost task.
- B. Import standard costs from receipt layers.
- C. Manage the Standard Costtask.
- D. Create Standard Cost in a spreadsheet.
Answer: AD
NEW QUESTION 9
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. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- C. They must create their valuation units manually.
- D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
Answer: D
NEW QUESTION 10
Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?
- A. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.
- B. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
- C. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.
- D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
- E. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."
Answer: E
NEW QUESTION 11
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 audit receipt accrual clearing balances.
- B. 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.
- C. Review their accrual balances and clear them.
- D. Review their Receipt Accounting processes that show whether any processes failed and why.
- E. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
Answer: BC
NEW QUESTION 12
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 cutoffdate is changed to a date that is later than the transaction date.
- C. Transactions with a transaction date after the cost cutoff date will not be processe
- D. These transactions will never be processed in any subsequent cost processor run.
- E. 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.
Answer: B
NEW QUESTION 13
Identify two characteristics of an expense pool. (Choose two.)
- A. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto thebalance sheet as inventory value.
- B. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- C. You can define the name of your expense pool, but you cannot define more than one.
- D. It isused only for analyzing gross margins on noninventory sales of services.
Answer: AB
NEW QUESTION 14
Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?
- A. Turn off merge matching lines in the journal line rule.
- B. Turn off thesummarize flag in the journal line rule.
- C. Write a custom report.
- D. Turn on detailed posting for GL in the ledger setup.
- E. Extract distribution accounting entries.
Answer: A
NEW QUESTION 15
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets assigned to a secondary ledger with a different COA
- B. Rule sets that have a mapping set to convert the accounts
- C. Rule sets not associated with any chart of accounts
- D. Rule sets where the accounting rules override the method rule set
- E. Rule sets that use the same chart of accounts
Answer: AD
NEW QUESTION 16
Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?
- A. Accrual Supplier Liability Report
- B. Accrual Reconciliation Report
- C. Accrual Clearing Report
- D. Uninvoiced Receipt Accrual Report
- E. Receipt Accounting Real Time Report
Answer: B
Explanation:
https://docs.oracle.com/cloud/farel12/scmcs_gs/FAPMA/FAPMA2269725.htm#FAPMA2269725
NEW QUESTION 17
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, 2021 effective date. An item has three work definitions. One work definition has an October l, 2015effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2021 effective date.
How will the application select the work definition?
- A. It will use the work definition with the January 2, 2021effective date.
- B. 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.
- C. It must always use the work definition with the October 1, 2015 effective date.
- D. 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.
Answer: D
NEW QUESTION 18
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 Receiving Inspection, Credit Accrued Liability
- D. Debit Expense, Credit Receiving Inspection
- E. Debit Expense, Credit Expense Accrual
Answer: A
NEW QUESTION 19
Identify four reasons to usethe set ID when defining Cost Accounting setups. (Choose four)
- A. You can share definitions across multiple cost organizations.
- B. You can control which definitions are visible to different cost organizations
- C. You can streamline your setup effort.
- D. Youhave the option to share setup data across all cost organizations using the common set.
- E. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- F. You don't have to create any definitions for cost books.
Answer: ACDE
NEW QUESTION 20
Your client hasaccounting rules that need specific customization. Which two options allow them to accomplish this"1
- A. Copy and rename predefined subledger journal entry rule sets before modifying them.
- B. Use a different journal entry rule set for each ledger with a different accounting convention.
- C. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
- D. Journal entry rule sets do not require accounting rules.
- E. The subledger journal entry rule set does not needthe same accounting event type as the accountingmethod.
Answer: C
NEW QUESTION 21
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