GFEBS L432E Cost Collection and
Allocation UPDATED ACTUAL Exam
Questions and CORRECT Answers
What 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
Allocation UPDATED ACTUAL Exam
Questions and CORRECT Answers
What 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
