[Sep 11, 2026] Free Oracle Cloud 1Z0-1074-26 Official Cert Guide PDF Download
Oracle 1Z0-1074-26 Official Cert Guide PDF
NEW QUESTION # 24
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Create Standard Cost in a spreadsheet.
- C. Manage the Item Cost task.
- D. Manage the Standard Cost task.
Answer: B,D
Explanation:
:
NEW QUESTION # 25
Select the two valid relationships between subledger components.
- A. The accounting method holds the accounting rules by Event Class and Event Type.
- B. The journal lines hold the journal entry rule sets.
- C. Journal entry rule sets hold journal rules and accounting rules.
- D. Journal entry rules are used to hold accounting rules.
- E. The accounting method groups journal entry rule sets by Event Class and Event Type.
Answer: C,D
Explanation:
Reference:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAISL/F1456683AN11328.htm
NEW QUESTION # 26
Which two outcomes can happen in create accounting when an account combination returned is end dated?
- A. The preprocessor will pre-warn about this error.
- B. Suspense accounts cannot be used.
- C. An error will always occur.
- D. The original account is stored on the journal line.
- E. An alternate account will be used if provided.
Answer: D,E
Explanation:
Reference:
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-setup.html#FAISL212668
NEW QUESTION # 27
What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?
- A. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
- B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
- C. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
- D. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
- E. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
Answer: C
Explanation:
Reference:
NEW QUESTION # 28
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Inventory Valuation Report
- B. Cost Accounting Valuation Report
- C. COGS and Revenue Matching Report
- D. Work in Process Inventory Valuation Report
- E. Costing Account Balances Report
- F. In-transit Valuation Report
- G. Layer Inventory Valuation Report
Answer: A,E,F,G
Explanation:
Reference:
NEW QUESTION # 29
Which three cost planning tasks can be performed in the Cost Accounting work area?
- A. Manage Resource Rates
- B. Review Item Costs
- C. Analyzing and Comparing Costs
- D. Review Work Order Costs
- E. Management Cost Accounting Periods
- F. Estimating Standard Costs for Assemblies
Answer: A,C,F
Explanation:
Reference:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_C97AC111350F0D3EE040D30A68814D11
NEW QUESTION # 30
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 Accounts Payable role for the correct cost organization.
- B. Create Data Access on the Cost Accountant role for the correct cost organization.
- C. Create Data Access on the Accounts Payable role for the correct inventory organization.
- D. Create Data Access on the Cost Accountant role for the correct inventory organization.
Answer: B
Explanation:
Reference:
NEW QUESTION # 31
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. Transfer transactions from payables.
- E. Assign accruals to purchase order transactions.
Answer: C
Explanation:
Reference:
NEW QUESTION # 32
You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?
- A. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
- B. It can help you with consolidated financial reporting.
- C. It can help you understand true margins and value added by internal business units through the internal supply chain.
- D. It is only used when you do not need to maintain an arm's length relationship.
- E. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
Answer: B,C,E
Explanation:
Reference:
NEW QUESTION # 33
Identify four characteristics of a cost element.
- A. Users can define any number of cost elements.
- B. It is user-defined.
- C. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
- D. It is the granularity at which costs are tracked and accounted.
- E. It uses date effectivity.
- F. The mapping of cost components into cost elements is user-defined.
Answer: B,C,E,F
Explanation:
Reference:
NEW QUESTION # 34
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?
- A. Subledger Accounting is already set up to process it.
- B. Create a foreign reporting currency to track gain/loss.
- C. Turn on the Subledger Gain or Loss Option.
- D. Create a secondary ledger to track gain/loss.
Answer: C
Explanation:
Reference:
NEW QUESTION # 35
Which three tasks can be completed in the Receipt Accounting work area?
- A. Review Cost Accounting Distributions
- B. Review Item Costs
- C. Manage Accrual Clearing Rules
- D. Create Receipt Accounting Distributions
- E. Create Accounting
- F. Review and Approve Item Cost Profiles
Answer: A,C,D
Explanation:
Reference:
NEW QUESTION # 36
You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly.
How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?
- A. Run the Create Cost Accounting Distribution process with the following parameters:
- B. Run the Create Accounting for Costing process with the following parameters:
- C. Run the Create Cost Accounting Distribution process with the following parameters:
- D. Run the Create Accounting for Costing process with the following parameters:
- E. Run the Transfer Transactions from Inventory to Costing process with the following parameters:
Answer: B
Explanation:
Reference:
NEW QUESTION # 37
Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions.
Which subject area would you select to create this report?
- A. Receipt Accounting- Receipt Accounting Distributions Real Time
- B. Costing-Cost Accounting Real Time
- C. Financials-Subledger Accounting-Detail Transactions
- D. Receipt Accounting-- Receipt Accounting Transactions Real Time
- E. Costing -Receipt Accounting Real Time
Answer: C
Explanation:
Reference:
NEW QUESTION # 38
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. Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.
- B. Run the "Activate Subledger Journal Entry Rule Set Assignments" process.
- C. Add the subledger journal entry rule sets to the Manage Accounting Methods task.
- D. Run the "Activate Accounting Methods" process.
- E. Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.
Answer: B,C
NEW QUESTION # 39
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. Close the August period; you can never have two open periods at the same time.
- B. Run the Transfer Transactions to Costing process.
- C. Change the number of maximum open periods in Manage Cost Organization Relationships
- D. Perform cost account validations for August in Manage Cost Accounting Periods
Answer: C
Explanation:
Reference:
NEW QUESTION # 40
Identify two criteria to select a specific work definition in an inventory organization when defining a cost estimation in a Cost Planning scenario
- A. Work definitions without alternates
- B. Work definitions with specific unit numbers
- C. Work definitions with the lowest production priority
- D. Work definitions with the highest costing priority
- E. Work definitions with the highest production priority
Answer: D,E
Explanation:
Reference:
NEW QUESTION # 41
Identify four features provided by the Review Work Order Costs UI when displaying work order
- A. Scrap Costs
- B. Input Costs
- C. Variable Costs
- D. Standard Cost variances
- E. Output Costs
- F. Incremental Costs
Answer: A,B,D,E
Explanation:
Reference:
NEW QUESTION # 42
You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.
- A. The item has no on-hand inventory.
- B. The Work Definition is incomplete.
- C. Outstanding purchase orders have not been received.
- D. Burdens have not been established for the item
- E. The assembly item is marked as Perpetual Average costed.
Answer: B,E
Explanation:
Reference:
NEW QUESTION # 43
Select two ways to define the standard cost for an item from the Cost Accounting work area.
- A. Import standard costs from receipt layers.
- B. Create Standard Cost in a spreadsheet.
- C. Manage the Item Cost task.
- D. Manage the Standard Cost task.
Answer: B,D
Explanation:
Reference:
NEW QUESTION # 44
Which two steps need to be completed to estimate landed costs?
- A. Prepare the Material Purchase Order Data process.
- B. Transfer transactions from the Payables to the Costing process.
- C. Update standard costs.
- D. Allocate charges
- E. Transfer transactions from the Inventory to the Costing process.
Answer: A,D
Explanation:
Reference:
NEW QUESTION # 45
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 Purchasing Line types to 4-way match.
- B. Change the Receipt Close tolerance so it is 100 percent.
- C. Change inventory items to accrue at period end.
- D. Change expense items to accrue at period end.
- E. Change the Purchasing Line types to 3-way match.
Answer: A,E
Explanation:
Reference:
NEW QUESTION # 46
Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this?
- A. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
- B. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
- C. Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
- D. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
- E. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
- F. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing
Answer: C
Explanation:
Reference:
NEW QUESTION # 47
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