Online Access Free 1Z1-1074 Exam Questions

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

• A.Refer to the Accounting Event Diagnostic log.
  E Review errors in the Create Accounting Execution log.
• B.Query the transaction from Review Cost Accounting Distributions to see the error message.
• C.Review errors in the Create Accounting Execution report.
• D.Refer to the Accounting Event Diagnostic report.

A chart of accounts (COA) must be specified on the accounting method for which two situations?

• A.When account combination rules use constants
• B.Every accounting method should have a COA.
• C.When usingsegment rules
• D.When using ledgers that have unique accounting requirements
• E.When using account combination rules

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.Extract distribution accounting entries.
• C.Turn off merge matching lines in the journal line rule.
• D.Write a custom report.
• E.Turn off thesummarize flag in the journal line rule.

Which statement is true regarding the cost cutoff date in Cost Accounting?

• A.Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
• B.Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
• C.Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoffdate is changed to a date that is later than the transaction date.
• D.It only affects whether or not you can process a cost adjustment.

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?

• A.Turn on the Subledger Gain or LossOption.
• B.Create a foreign reporting currency to track gain/loss.
• C.Create a secondary ledger to track gain/loss.
• D.Subledger Accounting is already set up to process it.