Free Oracle 1Z0-1074-26 Practice Test & Real Exam Questions

Exam Code/Number: 1Z0-1074-26
Exam Name/Title: Oracle Cost Management Cloud 2026 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud

Exam Questions: 82
Updated On: Sep 28, 2026

Question #19

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

A. Every cost organization must use different book names; they cannot be shared.

B. A cost organization has one book that posts to the primary ledger.

C. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.

D. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.

Discussion 0

Correct Answer: B,D Vote an answer

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Question #20

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?

A. Perform cost account validations for August in Manage Cost Accounting Periods

B. Change the number of maximum open periods in Manage Cost Organization Relationships

C. Close the August period; you can never have two open periods at the same time.

D. Run the Transfer Transactions to Costing process.

Discussion 0

Correct Answer: B Vote an answer

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Question #21

Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?

A. Review their Receipt Accounting processes that show whether any processes failed and why.

B. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.

C. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.

D. Review their accrual balances and clear them.

E. Review their audit receipt accrual clearing balances.

Discussion 0

Correct Answer: C,D Vote an answer

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Question #22

You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

A. Run the "Activate Subledger Journal Entry Rule Set Assignments" process.

B. Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.

C. Add the subledger journal entry rule sets to the Manage Accounting Methods task.

D. Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

E. Run the "Activate Accounting Methods" process.

Discussion 0

Correct Answer: A,C Vote an answer

Question #23

Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

A. It must always use the work definition with the October 1, 2015 effective date.

B. It will use the work definition with the January 2, 2016 effective date.

C. You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

D. Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

Discussion 0

Correct Answer: C Vote an answer

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Question #24

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. Assign accruals to purchase order transactions.

D. Transfer transactions from payables.

E. Create distributions.

Discussion 0

Correct Answer: E Vote an answer

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Question #25

Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances?

A. Inventory Account Balances Report

B. Inventory Valuation Report

C. Costing Balances Report

D. Revenue and COGS Matching Report

Discussion 0

Correct Answer: B,C Vote an answer

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Question #26

At what level can you define item cost profiles?

A. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined.

B. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.

C. Item cost profiles are defined within an inventory organization. There can be only one cost method for an inventory organization.

D. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

Discussion 0

Correct Answer: A Vote an answer

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Question #27

In which two scenarios would you define account rules based on value sets?

A. When a chart of accounts is assigned to the value set definition

B. When a secondary ledger has a different COA

C. When there is a mapping set to convert the accounts

D. In the absence of a chart of accounts on the accounting method

E. If a segment shares the same value set across multiple chart of accounts

Discussion 0

Correct Answer: C,E Vote an answer

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