1Z0-1074-20 Online Practice Questions and Answers

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A. Material Receipts

B. Charge Names

C. PreReference Types

D. Routes

E. Trade Operation Template

Identify four characteristics of a cost element.

A. Users can define any number of cost elements.

B. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.

C. It is the granularity at which costs are tracked and accounted.

D. It is user-defined.

E. The mapping of cost components into cost elements is user-defined.

F. It uses date effectivity.

Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.

C. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".

D. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.

F. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".

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

A. Internal requisition number

B. Shipment number

C. Expense invoice number

D. Bill of Lading E. Receipt number

After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

A. Transfer to Sub ledger Accounting.

B. Transfer transactions from payables.

C. Transfer transactions from receiving.

D. Create distributions.

E. Assign accruals to purchase order transactions.

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. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

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.

If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?

A. Rule sets assigned to a secondary ledger with a different COA

B. Rule sets that have a mapping set to convert the accounts

C. Rule sets not associated with any chart of accounts

D. Rule sets where the accounting rules override the method rule set

E. Rule sets that use the same chart of accounts

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 Charge Account (expense or inventory), Credit Receiving Inspection

B. Debit Accrued Liability, Credit Accounts Payable

C. Debit Receiving Inspection, Credit Accrued Liability

D. Debit Expense, Credit Receiving Inspection

E. Debit Expense, Credit Expense Accrual

Which two statements are true about Cost Accounting books? (Choose two.)

A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.

B. A cost organization has one book that posts to the primary ledger.

C. Every cost organization must use different book names; they cannot be shared.

D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

You have made some changes to your subledger accounting setups for Costing and want to verify that the

journal entries are showing up correctly.

How can you generate a report that allows you to see the subledger journal entries for transactions without

actually transferring to the General Ledger?

A. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

B. Run the Transfer Transactions from Inventory to Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

C. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No

D. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No

E. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No