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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify three Landed Cost Management tasks.

A) Capture Charges
B) Perform Allocations
C) Manage Cost Scenarios
D) Create Accounting
E) View Rolled Up Costs
F) Review Journal Entries

2. 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) Consigned items can 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) The quantity is tracked in inventory but not as an asset until there is an ownership event
E) There is no difference between owned inventory and consigned inventory.
F) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.

3. 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 accrual balances and clear them.
C) 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.
D) Review their Receipt Accounting processes that show whether any processes failed and why.
E) Review their audit receipt accrual clearing balances.

4. Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

A) Internal requisition number
B) Receipt number
C) Bill of Lading
D) Shipment number
E) Expense invoice number

5. Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

A) Costing Account Balances Report
B) Cost Accounting Valuation Report
C) COGS and Revenue Matching Report
D) Inventory Valuation Report
E) In-transit Valuation Report
F) Layer Inventory Valuation Report
G) Work in Process Inventory Valuation Report

Solutions: