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1. Identify two characteristics of a cost profile.
A) It is where you define which cost method you want to use for the cost component to cost element mapping.
B) It is where you define your Cost Accounting policies.
C) It is used for calculating the estimated cost of manufactured items under different scenarios.
D) It is used for Receipt Accounting.
2. Select two ways to define the standard cost for an item from the Cost Accounting work area.
A) Create Standard Cost in a spreadsheet.
B) Manage the Standard Cost task.
C) Manage the Item Cost task.
D) Import standard costs from receipt layers.
3. 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 Loss Option.
B) Create a foreign reporting currency to track gain/loss.
C) Subledger Accounting is already set up to process it.
D) Create a secondary ledger to track gain/loss.
4. 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 Accounts Payable role for the correct inventory organization.
B) Create Data Access on the Accounts Payable role for the correct cost organization.
C) Create Data Access on the Cost Accountant role for the correct inventory organization.
D) Create Data Access on the Cost Accountant role for the correct cost organization.
5. Landed Cost Variance Analysis can be performed based on which three dimension combinations?
A) Item Catalog/Inventory Organization/Business Unit
B) Business Unit/Landed Cost Charge/Cost Organization
C) Item/Business Unit/Route
D) Inventory Organization/Landed Cost Charge/Third Party Supplier
E) Item Category/Material Supplier/Landed Cost Charge
Solutions:
| Question # 1 Answer: B,D | Question # 2 Answer: A,B | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: A |
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