1Z0-1074-26 Exam Training Practice Tests (Oracle Cost Management Cloud 2026 Implementation Professional)]

Question 1

The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A. Trade Operation Template B. PreReference Types C. Material Receipts D. Charge Names E. Routes

Correct Answer: B

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Question 2

You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?

A. Trade Operation Templates B. Charge Name C. Reference Types D. Trade Operation E. Routes

Correct Answer: B

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Question 3

How is the standard cost of a manufactured configured item calculated?

A. The standard cost is calculated for every possible combination of options under a model B. It is based on the material and resource requirements of a released work order. C. The standard cost of a model item is calculated. D. It is based on the actual cost of the work order after it is completed.

Correct Answer: C

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Question 4

Which two statements are true about Cost Accounting books? (Choose two.)

A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting. B. Every cost organization must use different book names; they cannot be shared. C. A cost organization has one book that posts to the primary ledger. D. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

Correct Answer: A,C

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Question 5

Identify the four types of cost adjustments.

A. A standard cost update will create an inventory value adjustment. B. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold. C. A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment. D. Authorized users can manually create cost adjustments. E. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.

Correct Answer: A,B,D,E

Question 6

You have configured the application as follows:
* Expense items are set to accrue at receipt.
* Receipt Close tolerance is set to 75 percent.
* Purchasing Line types are set to 2-way match.
When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added.
Which two configurations changes will ensure the Accrue on Receipt check box is not selected by default?

A. Change the Receipt Close tolerance so it is 100 percent. B. Change the Purchasing Line types to 3-way match. C. Change expense items to accrue at period end. D. Change inventory items to accrue at period end. E. Change the Purchasing Line types to 4-way match.

Correct Answer: B,E

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Question 7

You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

A. Transfer costs to Cost Management. B. Transfer transactions from Receiving to Costing. C. Create Accounting. D. Activate its journal entry rule set assignments. E. Execute the Preprocessor.

Correct Answer: D

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Question 8

When attempting to open costing periods, your customer is receiving the following error:
Error: You do not have the required permission. You can request that your help desk change your security settings.
What configuration needs to be done so your customer will be able to open the Cost Accounting period?

A. Create Data Access on the Cost Accountant role for the correct cost organization. B. Create Data Access on the Accounts Payable role for the correct inventory organization. C. Create Data Access on the Accounts Payable role for the correct cost organization. D. Create Data Access on the Cost Accountant role for the correct inventory organization.

Correct Answer: A

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Question 9

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this? (Choose two)

A. Copy and rename predefined subledger journal entry rule sets before modifying them. B. The subledger journal entry rule set does not need the same accounting event type as the accounting method. C. Use a different journal entry rule set for each ledger with a different accounting convention. D. Journal entry rule sets do not require accounting rules. E. The subledger journal entry rule set does not need the same accounting event class as the accounting method.

Correct Answer: B,E

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Oracle Cost Management Cloud 2026 Implementation Professional - 1Z0-1074-26 Exam Practice Test