Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

• A. The quantity is tracked in inventory but not as an asset until there is an ownership event
• B. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
• C. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
• D. The liability for a consigned item occurs when there is an ownership event.
• E. There is no difference between owned inventory and consigned inventory.
• F. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.

Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?

• A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
• B. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
• C. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
• D. They must create their valuation units manually.

You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?

• A. It can help you with consolidated financial reporting.
• B. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
• C. It can help you understand true margins and value added by internal business units through the internal supply chain.
• D. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
• E. It is only used when you do not need to maintain an arm's length relationship.

Which three features are included in Receipt Accounting?

• A. Review Item Costs
• B. Create Receipt Accounting Distribution
• C. Analyze Standard Purchase Cost Variances
• D. Review Journal Entries
• E. Adjust Receipt Accrual Clearing Balances

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