Online Access Free 1Z1-1024 Exam Questions

Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.

• A.Shipment number
• B.Bill of Lading
• C.Expense invoice number
• D.Receipt number
• E.Internal requisition number

Which two statements are true about Cost Accounting books?

• A.Every cost organization must use different book names; they cannot be shared.
• B.Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
• C.A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
• D.A cost organization has one book that posts to the primary ledger.

When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?

• A.Create Data Access on the Cost Accountant role for the correct cost organization.
• B.Create Data Access on the Cost Accountant role for the correct inventory organization.
• C.Create Data Access on the Accounts Payable role for the correct inventory organization.
• D.Create Data Access on the Accounts Payable role for the correct cost organization.

Identify two ways that standard cost is calculated.

• A.The cost of a configured item is calculated based on the work definition of the model item.
• B.The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
• C.The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
• D.Users must manually enter the cost of each configured item; the calculation is not automated.
• E.The standard cost is the sum of the cost of the selected option items.

Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

• A.Review their accrual balances and clear them.
• B.Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
• C.Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
• D.Review their Receipt Accounting processes that show whether any processes failed and why.
• E.Review their audit receipt accrual clearing balances.