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Oracle 1z0-1074-23 Exam Syllabus Topics:

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?

A) Open
B) Permanently Closed
C) Never Opened
D) Close Pending
E) Closed

2. Which two outcomes can happen in create accounting when an account combination returned is end dated?

A) An error will always occur.
B) The original account is stored on the journal line.
C) The preprocessor will pre-warn about this error.
D) An alternate account will be used if provided.
E) Suspense accounts cannot be used.

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

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

4. What are three cost method choices that are available in Cost Accounting?

A) Periodic average cost
B) Period end average cost
C) Actual cost (FIFO or First In First Out)
D) Perpetual average cost
E) Standard cost
F) Actual cost (LIFO or Last In First Out)

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

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

Solutions: