Pass 1Z0-1074 Exam Questions ~ 100% success in initial try

Question No 1

Select the two valid relationships between subledger components.

Choose the Choices:

The accounting method holds the accounting rules by Event Class and Event Type.

The journal lines hold the journal entry rule sets.

The accounting method groups journal entry rule sets by Event Class and Event Type.

Journal entry rules are used to hold accounting rules.

Journal entry rule sets hold journal rules and accounting rules.

Question No 2

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

Choose the Choices:

Material Receipts

Charge Names

PreReference Types

Routes

Trade Operation Template

Question No 3

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?

Choose the Choices:

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

Review errors in the Create Accounting Execution report.

Refer to the Accounting Event Diagnostic report.

Refer to the Accounting Event Diagnostic log. E Review errors in the Create Accounting Execution log. Answer: B

Question No 4

Which two types of costs are included in the cost of contract manufactured items?

Choose the Choices:

The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer

The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items

The cost of resources consumed at the OEM's factory

The cost of the contract manufacturing service Item. This is the price that the contract

Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.

Question No 5

Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units. Which two configurations will support this request?

Choose the Choices:

Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".

Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.

Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

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