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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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 Receipt Accounting processes that show whether any processes failed and why.
D) 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.
E) Review their accrual balances and clear them.

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

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

3. After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

A) Assign accruals to purchase order transactions.
B) Create distributions.
C) Transfer transactions from payables.
D) Transfer transactions from receiving.
E) Transfer to Sub ledger Accounting.

4. At what level can you define item cost profiles?

A) Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
B) Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
C) Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
D) Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.

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

A) It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
B) You can define the name of your expense pool, but you cannot define more than one.
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) It is used only for analyzing gross margins on noninventory sales of services.

Solutions: