Free Oracle 1z1-987 Practice Test & Real Exam Questions

Exam Code/Number: 1z1-987
Exam Name/Title: Oracle Cost Management Cloud 2017 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Cost Management Cloud

Exam Questions: 70
Updated On: Sep 03, 2026

Question #1

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

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

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

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

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

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

Discussion 0

Correct Answer: E,F Vote an answer

Question #2

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. Create a foreign reporting currency to track gain/loss.

B. Create a secondary ledger to track gain/loss.

C. Turn on the Subledger Gain or Loss Option.

D. Subledger Accounting is already set up to process it.

Discussion 0

Correct Answer: A Vote an answer

Question #3

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 Receipt Accounting processes that show whether any processes failed and why.

B. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

C. 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.

D. Review their accrual balances and clear them.

E. Review their audit receipt accrual clearing balances.

Discussion 0

Correct Answer: C,D Vote an answer

Question #4

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. Refer to the Accounting Event Diagnostic report.

D. Review errors in the Create Accounting Execution report.

Discussion 0

Correct Answer: D Vote an answer

Question #5

After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?

A. Retro-reprice

B. Cost of Goods Sold

C. In-transit

D. Overhead

E. Adjustments

Discussion 0

Correct Answer: D Vote an answer

Question #6

Identify two characteristics of Landed Cost charge names.

A. You can modify a charge name until it is associated with a trade operation.

B. You can use multiple currencies within a trade operation for the same charge name on different lines.

C. Duty is a seeded charge name for Landed Cost.

D. Charge names cannot be associated with a PO schedule.

E. Charge names cannot be used to tie an invoice to a trade operation.

Discussion 0

Correct Answer: A,B Vote an answer

Question #7

Identify four features provided by the Review Work Order Costs UI when displaying work order

A. Input Costs

B. Variable Costs

C. Output Costs

D. Scrap Costs

E. Standard Cost variances

F. Incremental Costs

Discussion 0

Correct Answer: A,B,C,E Vote an answer

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