Use Real 1z0-1074-20 - 100% Cover Real Exam Questions [Oct-2021]
Dumps Brief Outline Of The 1z0-1074-20 Exam - Free4Dump
NEW QUESTION 11
Your client only wants to cost inventory items and third party costs. Which two modules are they required to implement to ensure this functionality?
- A. Receipt Accounting
- B. Inventory Management
- C. Landed Cost Management
- D. Cost Accounting
- E. Product Model
Answer: B
NEW QUESTION 12
Which four steps need to be completed to establish standard costs for a make item?
- A. Export item costs.
- B. Run preprocessor.
- C. Publish costs
- D. Add standard costs to a cost scenario.
- E. Complete cost roll-up.
- F. Create a new cost scenario.
Answer: A,B,C,E
NEW QUESTION 13
Identify two ways that standard cost is calculated.
- A. The standard cost is the sum of the cost of the selected option items.
- B. Users must manually enter the cost of each configured item; the calculation is not automated.
- C. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
- D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- E. The cost of a configured item is calculated based on the work definition of the model item.
Answer: A,D
NEW QUESTION 14
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 sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
- B. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
- C. Run the "Activate Accounting Methods" process.
- D. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.
- E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
Answer: B,D
NEW QUESTION 15
Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?
- A. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.
- B. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."
- C. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
- D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
- E. Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
Answer: B
NEW QUESTION 16
In which two scenarios would you define account rules based on value sets?
- A. When there is a mapping set to convert the accounts
- B. When a secondary ledger has a different COA
- C. If a segment shares the same value set across multiple chart of accounts
- D. In the absence of a chart of accounts on the accounting method
- E. When a chart of accounts is assigned to the value set definition
Answer: A,C
NEW QUESTION 17
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 Receiving to Costing process.
- B. Run the Transactions from Procurement to Costing process.
- C. Run the Transfer Costs from Payables to Cost Management process.
- D. Run the Create Accounting process.
- E. Run the Clear Receipt Accrual Balances process.
Answer: A
NEW QUESTION 18
You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?
- A. Reference Types
- B. Routes
- C. Charge Name
- D. Trade Operation
- E. Trade Operation Templates
Answer: A
NEW QUESTION 19
Identify two characteristics of a cost profile.
- A. It is where you define your Cost Accounting policies.
- B. It is used for calculating the estimated cost of manufactured items under different scenarios.
- C. It is used for Receipt Accounting.
- D. It is where you define which cost method you want to use for the cost component to cost element mapping.
Answer: A,C
NEW QUESTION 20
Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)
- A. You don't have to create any definitions for cost books.
- B. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
- C. You have the option to share setup data across all cost organizations using the common set.
- D. You can streamline your setup effort.
- E. You can control which definitions are visible to different cost organizations
- F. You can share definitions across multiple cost organizations.
Answer: B,C,D,F
NEW QUESTION 21
Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?
- A. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
- B. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
- C. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
- D. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
- E. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs
Answer: C
NEW QUESTION 22
Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this?
- A. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
- B. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
- C. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
- D. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing
- E. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
- F. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
Answer: C
NEW QUESTION 23
Which two steps need to be completed to estimate landed costs?
- A. Prepare the Material Purchase Order Data process.
- B. Allocate charges
- C. Transfer transactions from the Inventory to the Costing process.
- D. Transfer transactions from the Payables to the Costing process.
- E. Update standard costs.
Answer: B,E
NEW QUESTION 24
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Manage the Item Cost task.
- C. Manage the Standard Cost task.
- D. Create Standard Cost in a spreadsheet.
Answer: B,D
NEW QUESTION 25
Identify two characteristics of an expense pool. (Choose two.)
- A. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- B. It is used only for analyzing gross margins on noninventory sales of services.
- C. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
- D. You can define the name of your expense pool, but you cannot define more than one.
Answer: A,C
NEW QUESTION 26
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?
- A. They must create their valuation units manually.
- B. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
- C. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
Answer: D
NEW QUESTION 27
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
- A. Business Unit and Cost Organization
- B. Inventory Organization and Cost Organization
- C. Business Unit and Inventory Organization
- D. Business Unit and Legal Entity
- E. Legal Entity and Cost Organization
- F. Inventory Organization and Legal Entity
Answer: C
NEW QUESTION 28
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.
- A. Internal requisition number
- B. Bill of Lading
- C. Expense invoice number
- D. Receipt number
- E. Shipment number
Answer: A,E
NEW QUESTION 29
What are three cost method choices that are available in Cost Accounting?
- A. Period end average cost
- B. Perpetual average cost
- C. Periodic average cost
- D. Actual cost (LIFO or Last In First Out)
- E. Actual cost (FIFO or First In First Out)
- F. Standard cost
Answer: B,D,E
NEW QUESTION 30
Which two rules determine whether a condition has been met for accounting rules?
- A. After all conditions are tested, the final resulting value is used.
- B. Priorities determine the order in which accounting rule conditions are examined.
- C. Use parenthesis to control the order of the condition evaluation.
- D. The conditions are evaluated in the sequence they are defined in the accounting rule.
- E. When the condition is met, the rule associated with that priority is used.
Answer: D,E
NEW QUESTION 31
You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?
- A. It can help you understand true margins and value added by internal business units through the internal supply chain.
- B. It is only used when you do not need to maintain an arm's length relationship.
- C. It can help you with consolidated financial reporting.
- D. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
- E. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
Answer: C,D,E
NEW QUESTION 32
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