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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. 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 is used only for analyzing gross margins on noninventory sales of services.
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) You can define the name of your expense pool, but you cannot define more than one.

2. Identify two ways that standard cost is calculated.

A) Users must manually enter the cost of each configured item; the calculation is not automated.
B) The standard cost is the sum of the cost of the selected option items.
C) The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
D) The cost of a configured item is calculated based on the work definition of the model item.
E) The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.

3. Which four steps need to be completed to establish standard costs for a make item?

A) Export item costs
B) Create a new cost scenario
C) Publish costs
D) Add standard costs to a cost scenario
E) Run preprocessor
F) Complete cost roll-up

4. You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

A) Debit Expense, Credit Expense Accrual
B) Debit Expense, Credit Receiving Inspection
C) Debit Charge Account (expense or inventory), Credit Receiving Inspection
D) Debit Accrued Liability, Credit Accounts Payable
E) Debit Receiving Inspection, Credit Accrued Liability

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

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

Solutions: