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Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. What are three cost method choices that are available in Cost Accounting?

A) Actual cost (LIFO or Last In First Out)
B) Standard cost
C) Period end average cost
D) Perpetual average cost
E) Periodic average cost
F) Actual cost (FIFO or First In First Out)

2. Which two rules determine whether a condition has been met for accounting rules?

A) The conditions are evaluated in the sequence they are defined in the accounting rule.
B) Use parenthesis to control the order of the condition evaluation.
C) When the condition is met, the rule associated with that priority is used.
D) After all conditions are tested, the final resulting value is used.
E) Priorities determine the order in which accounting rule conditions are examined.

3. Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?

A) Turn on detailed posting for GL in the ledger setup.
B) Write a custom report.
C) Extract distribution accounting entries.
D) Turn off merge matching lines in the journal line rule.
E) Turn off the summarize flag in the journal line rule.

4. Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions.
Which subject area would you select to create this report?

A) Costing-Cost Accounting Real Time
B) Receipt Accounting-- Receipt Accounting Transactions Real Time
C) Costing -Receipt Accounting Real Time
D) Receipt Accounting- Receipt Accounting Distributions Real Time
E) Financials-Subledger Accounting-Detail Transactions

5. You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

A) Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.
B) Run the "Activate Subledger Journal Entry Rule Set Assignments" process.
C) Run the "Activate Accounting Methods" process.
D) Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.
E) Add the subledger journal entry rule sets to the Manage Accounting Methods task.

Solutions: