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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Identify the four types of cost adjustments.

A) A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
B) A change to a requisition after the purchase order has been created will create a cost adjustment.
C) A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
D) When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.
E) Authorized users can manually create cost adjustments.
F) A standard cost update will create an inventory value adjustment.

2. Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

A) Work Order Costs
B) Cost Processing
C) Inventory Valuation
D) Journal Entries
E) Item Costs
F) Purchase Variance Summary

3. Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

A) Inventory Valuation Report
B) Costing Balances Report
C) Revenue and COGS Matching Report
D) Inventory Account Balances Report
B COGS Account Balances Report

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

5. You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

A) Trade Operation
B) Cost Scenario
C) Routes
D) Charge Name
E) Orders

Solutions: