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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
1. You can track costs at what granularity level in Cost Accounting for the actual costing method?
A) Grade, Serial, Group, Lot
B) Grade, Subinventory, Locator, Serial
C) Subinventory. Lot, Serial, Grade
D) Subinventory, Lot, Serial, Locator
E) Subinventory, Make, Lot, Serial
2. You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?
A) Transfer transactions from Receiving to Costing.
B) Transfer costs to Cost Management.
C) Activate its journal entry rule set assignments.
D) Execute the Preprocessor.
E) Create Accounting.
3. Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
A) COGS and Revenue Matching Report
B) Costing Account Balances Report
C) Cost Accounting Valuation Report
D) Inventory Valuation Report
E) Work in Process Inventory Valuation Report
F) In-transit Valuation Report
G) Layer Inventory Valuation Report
4. 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) Revenue and COGS Matching Report
B) Costing Balances Report
C) Inventory Valuation Report
D) Inventory Account Balances Report
B COGS Account Balances Report
5. You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?
A) It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
B) It can help you understand true margins and value added by internal business units through the internal supply chain.
C) It can help you with consolidated financial reporting.
D) It is only used when you do not need to maintain an arm's length relationship.
E) It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: B,D,F,G | Question # 4 Answer: B,C | Question # 5 Answer: B,C,E |

