Oracle Cost Management Cloud 2026 Implementation Professional : 1Z0-1074-26

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Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

1. Identify two characteristics of a cost profile.

A) It is where you define which cost method you want to use for the cost component to cost element mapping.
B) It is where you define your Cost Accounting policies.
C) It is used for Receipt Accounting.
D) It is used for calculating the estimated cost of manufactured items under different scenarios.

2. Select two ways to define the standard cost for an item from the Cost Accounting work area.

A) Manage the Standard Cost task.
B) Import standard costs from receipt layers.
C) Manage the Item Cost task.
D) Create Standard Cost in a spreadsheet.

3. Identify the four types of cost adjustments.

A) A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
B) 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.
C) Authorized users can manually create cost adjustments.
D) A standard cost update will create an inventory value adjustment.
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.

4. After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?

A) Transfer to Sub ledger Accounting.
B) Transfer transactions from receiving.
C) Create distributions.
D) Assign accruals to purchase order transactions.
E) Transfer transactions from payables.

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

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

Solutions: