GFEBS L432E Cost Collection and Allocation
Exam With Complete Solutions
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
Exam With Complete Solutions
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
