Question 1

Which three features are included in Receipt Accounting?

Options :

A : Analyze Standard Purchase Cost Variances

B : Create ReceiptAccounting Distribution

C : Review Item Costs

D : Adjust Receipt Accrual Clearing Balances

E : Review Journal Entries

Answer: A,B,D

Question 2

A manager has decided to close the period by not allowing any new transactions, except for correctionsandadjustments, which can happen any time before the period is closed permanently.Which cost period status will allow the system to perform the transaction?

Options :

A : Open

B : Closed

C : Permanently Closed

D : Never Opened

E : Close Pending

Answer: B

Question 3

If the Create Accounting process ends with errors or warnings, which three statements outline places you cango to get more detailed information about the specific errors and warnings?

Options :

A : Query the transaction from Review Cost Accounting Distributions to see the error message.

B : Review errors in the Create Accounting Execution report.

C : Refer to the Accounting Event Diagnostic report.

D : Refer to the Accounting Event Diagnostic log.

E : Review errors in the Create Accounting Execution log.

Answer: B,C,E

Question 4

Your organization currently has the August period for this year open. They want to be able to open theSeptember period, while keeping August open. When you try to open the target period, August of this year,you get an error.What must you do to meet your customer's requirement and resolve this error?

Options :

A : Perform cost account validations for August in Manage Cost Accounting Periods

B : Run the Transfer Transactions toCosting process.

C : Close the August period; you can never have two open periods at the same time.

D : Change the number of maximum open periods in Manage Cost Organization Relationships

Answer: B

Question 5

Identify four characteristics of a cost element.

Options :

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.

Answer: A,B,D

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