GFEBS L432E Cost Collection and Allocation Questions and Answers Rated A

Document Content and Description Below

GFEBS L432E Cost Collection and Allocation Questions and Answers Rated A What are the attributes of a cost center ✔✔All of the above. Cost Collection and Allocation are key components of Cost ... Management because they ✔✔Link fund expenditure data with functional and operational data. The first step in the Cost Management process is to ✔✔Create Master Data Elements Internal orders are cost collectors used to plan, collect, monitor, and settle the costs of internal jobs and tasks ✔✔true Work Breakdown Structure (WBS) Elements are the individual elements that represent activities within the WBS that are used for planning and updating actual cost data. The elements are called WBS Elements in Project Systems. ✔✔All of the above Business Processes are cost objects that can be used to track costs of cross-functional activities within an organization ✔✔t Which of the following describes Primary Cost Elements? ✔✔They have matching Expense Accounts in a GL. Distribution is the allocation of line item costs, while _________ is the allocation of summary level costs ✔✔Assessment During non-budget relevant cost movements/allocations/assignments, funds availability is affected ✔✔f Overhead is allocated using a percentage-based or quantity-based price ✔✔t The reassignment method is used to reassign both _______ and _______ costs in Cost Center Accounting ✔✔Primary and Secondary What are the two objects that facilitate the assignment of costs in GFEBS? ✔✔Activity Types and SKFs Cost reports provide resource and operational managers with greater visibility of resource usage ✔✔t Which of the following processes allow some commands to perform specialized cost analysis? ✔✔Send Cost Data to External Systems Cost reports enable resource and operational managers to analyze variances between expected and actual costs ✔✔t [Show More]

Last updated: 1 year ago

Preview 1 out of 3 pages