Free 1Z0-1024 Questions for Oracle Cost Management Cloud 2018 Implementation Essentials 1Z0-1024 Exam as PDF & Practice Test Engine

Exam Code/Number: 1Z0-1024
Exam Name/Title: Oracle Cost Management Cloud 2018 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Inventory Management Cloud

Exam Questions: 80
Updated On: May 28, 2026

Question #1

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 Receiving Inspection

B. Debit Charge Account (expense or inventory), Credit Receiving Inspection

C. Debit Expense, Credit Expense Accrual

D. Debit Receiving Inspection, Credit Accrued Liability

E. Debit Accrued Liability, Credit Accounts Payable

Discussion 0

Correct Answer: B Vote an answer

Question #2

Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?

A. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual

B. Event Class: Expense Accrual Event Type: Period End Accrual

C. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual

D. Event Class: Expense Accrual Event Type: Expense Accrual

E. Event Class: Period End Accrual Event Type: Period End Accrual

Discussion 0

Correct Answer: C Vote an answer

Question #3

There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?

A. Line Type must be set to Freight.

B. Sub ledger accounting is set up to accomplish this out-of-the-box.

C. Create a condition for a journal line for freight.

D. Account Class must be set to Freight.

Discussion 0

Correct Answer: B,C Vote an answer

Question #4

You need to simulate and estimate landed cost charges associated with purchase order receipts of material.
What must you create to make this possible?

A. Routes

B. Cost Scenario

C. Orders

D. Charge Name

E. Trade Operation

Discussion 0

Correct Answer: C Vote an answer

Question #5

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 Clear Receipt Accrual Balances process.

C. Run the Transfer Costs from Payables to Cost Management process.

D. Run the Create Accounting process.

E. Run the Transactions from Receiving to Costing process.

Discussion 0

Correct Answer: A Vote an answer

Question #6

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 Period End.

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

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

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

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

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

Discussion 0

Correct Answer: B,C Vote an answer

Question #7

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. Permanently Closed

B. Never Opened

C. Close Pending

D. Open

E. Closed

Discussion 0

Correct Answer: E Vote an answer

Question #8

Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?

A. Inventory

B. Financial Orchestration

C. Order Management

D. Shipping

E. Purchasing

Discussion 0

Correct Answer: B Vote an answer

Free 1Z0-1024 Questions for Oracle Cost Management Cloud 2018 Implementation Essentials 1Z0-1024 Exam as PDF & Practice Test Engine

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