Prep and try our 1z0-1074-23 valid and latest training questions & answers

Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

• A. It must always use the work definition with the October 1, 2015 effective date.
• B. It will use the work definition with the January 2, 2016 effective date.
• C. You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.
• D. Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?

• A. Open
• B. Closed
• C. Never Opened
• D. Permanently Closed
• E. Close Pending

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?

• A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
  > Set Accrue Expense Items to At Receipt.
• B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
• C. Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
• D. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
• E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
  > Set Accrue Expense Items to Period End.
• F. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

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

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

• A. It only affects whether or not you can process a cost adjustment.
• B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
• C. 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.
• D. 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.