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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?

A) Create Data Access on the Accounts Payable role for the correct inventory organization.
B) Create Data Access on the Accounts Payable role for the correct cost organization.
C) Create Data Access on the Cost Accountant role for the correct inventory organization.
D) Create Data Access on the Cost Accountant role for the correct cost organization.

2. 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) The Work Definition is incomplete.
D) Outstanding purchase orders have not been received.
E) Burdens have not been established for the item

3. An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?

A) Subledger Accounting is already set up to process it.
B) Create a foreign reporting currency to track gain/loss.
C) Create a secondary ledger to track gain/loss.
D) Turn on the Subledger Gain or Loss Option.

4. 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) It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
C) You can define the name of your expense pool, but you cannot define more than one.
D) It is used only for analyzing gross margins on noninventory sales of services.

5. If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?(Choose Three)

A) Refer to the Accounting Event Diagnostic Log.
B) Refer to the Accounting Event Diagnostic report.
C) Review errors in the Create Accounting Execution log.
D) Query the transaction from Review Cost Accounting Distributions to see the error message.
E) Review errors in the Create Accounting Execution report.

Solutions: