GFEBS L432E Cost Collection and
Allocation
What are the attributes of a cost center - answer All of the above.
Cost Collection and Allocation are key components of Cost Management because they -
answer Link fund expenditure data with functional and operational data.
The first step in the Cost Management process is to - answer Create Master Data
Elements
Internal orders are cost collectors used to plan, collect, monitor, and settle the costs of
internal jobs and tasks - answer 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. - answer All of the above
Business Processes are cost objects that can be used to track costs of cross-functional
activities within an organization - answer t
Which of the following describes Primary Cost Elements? - answer They have
matching Expense Accounts in a GL.
Distribution is the allocation of line item costs, while _________ is the allocation of
summary level costs - answer Assessment
During non-budget relevant cost movements/allocations/assignments, funds availability
is affected - answer f
Overhead is allocated using a percentage-based or quantity-based price - answer t
The reassignment method is used to reassign both _______ and _______ costs in Cost
Center Accounting - answer Primary and Secondary
What are the two objects that facilitate the assignment of costs in GFEBS? - answer
Activity Types and SKFs
Cost reports provide resource and operational managers with greater visibility of
resource usage - answer t
Allocation
What are the attributes of a cost center - answer All of the above.
Cost Collection and Allocation are key components of Cost Management because they -
answer Link fund expenditure data with functional and operational data.
The first step in the Cost Management process is to - answer Create Master Data
Elements
Internal orders are cost collectors used to plan, collect, monitor, and settle the costs of
internal jobs and tasks - answer 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. - answer All of the above
Business Processes are cost objects that can be used to track costs of cross-functional
activities within an organization - answer t
Which of the following describes Primary Cost Elements? - answer They have
matching Expense Accounts in a GL.
Distribution is the allocation of line item costs, while _________ is the allocation of
summary level costs - answer Assessment
During non-budget relevant cost movements/allocations/assignments, funds availability
is affected - answer f
Overhead is allocated using a percentage-based or quantity-based price - answer t
The reassignment method is used to reassign both _______ and _______ costs in Cost
Center Accounting - answer Primary and Secondary
What are the two objects that facilitate the assignment of costs in GFEBS? - answer
Activity Types and SKFs
Cost reports provide resource and operational managers with greater visibility of
resource usage - answer t
