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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. Which three cost planning tasks can be performed in the Cost Accounting work area?

A) Management Cost Accounting Periods
B) Review Work Order Costs
C) Review Item Costs
D) Analyzing and Comparing Costs
E) Manage Resource Rates
F) Estimating Standard Costs for Assemblies

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

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

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

A) Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
B) Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
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.

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) 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.

5. You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

A) Activate its journal entry rule set assignments.
B) Transfer costs to Cost Management.
C) Create Accounting.
D) Execute the Preprocessor.
E) Transfer transactions from Receiving to Costing.

Solutions: