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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
1. Which two outcomes can happen in create accounting when an account combination returned is end dated?
A) An alternate account will be used if provided.
B) The preprocessor will pre-warn about this error.
C) The original account is stored on the journal line.
D) An error will always occur.
E) Suspense accounts cannot be used.
2. At what level can you define item cost profiles?
A) Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.
B) 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.
C) Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
D) Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
3. Identify two ways that standard cost is calculated.
A) The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
B) The cost of a configured item is calculated based on the work definition of the model item.
C) The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
D) Users must manually enter the cost of each configured item; the calculation is not automated.
E) The standard cost is the sum of the cost of the selected option items.
4. A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?
A) Close Pending
B) Closed
C) Open
D) Permanently Closed
E) Never Opened
5. 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) Revenue and COGS Matching Report
C) Costing Balances Report
D) Inventory Account Balances Report
B COGS Account Balances Report
Solutions:
| Question # 1 Answer: A,C | Question # 2 Answer: B | Question # 3 Answer: A,E | Question # 4 Answer: B | Question # 5 Answer: A,C |





