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. Transfer transactions from Receiving to Costing.
E. Execute the Preprocessor.
Identify two characteristics of a cost profile.
A. It is used for calculating the estimated cost of manufactured items under different scenarios.
B. It is used for Receipt Accounting.
C. It is where you define your Cost Accounting policies.
D. It is where you define which cost method you want to use for the cost component to cost element mapping.
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
Identify two purposes of Sub ledger Accounting.
A. to maintain backward compatibility
B. to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level
C. to calculate costs for transactions
D. to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
E. to centralize accounting string generation across all modules
Select two ways to define the standard cost for an item from the Cost Accounting work area.
A. Manage the Item Cost task.
B. Import standard costs from receipt layers.
C. Manage the Standard Cost task.
D. Create Standard Cost in a spreadsheet.
What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?
A. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
B. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
C. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
D. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
E. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution
process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
A. Run the Transactions from Procurement to Costing process.
B. Run the Transfer Costs from Payables to Cost Management process.
C. Run the Create Accounting process.
D. Run the Clear Receipt Accrual Balances process.
E. Run the Transactions from Receiving to Costing process.
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. Open
B. Closed
C. Permanently Closed
D. Never Opened
E. Close Pending
A chart of accounts (COA) must be specified on the accounting method for which two situations?
A. When using ledgers that have unique accounting requirements
B. When using account combination rules
C. When account combination rules use constants
D. Every accounting method should have a COA.
E. When using segment rules
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.