GFEBS L432E Cost Collection and Allocation 100% correct answers

GFEBS L432E Cost Collection and Allocation 100% correct answersWhat are the attributes of a cost center - correct answer All of the above. Cost Collection and Allocation are key components of Cost Management because they - correct answer Link fund expenditure data with functional and operational data. The first step in the Cost Management process is to - correct answer Create Master Data Elements Internal orders are cost collectors used to plan, collect, monitor, and settle the costs of internal jobs and tasks - correct 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. - correct answer All of the above Business Processes are cost objects that can be used to track costs of cross-functional activities within an organization - correct answer t Which of the following describes Primary Cost Elements? - correct 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 - correct answer Assessment During non-budget relevant cost movements/allocations/assignments, funds availability is affected - correct answer f Overhead is allocated using a percentage-based or quantity-based price - correct answer t