Oracle 1Z0-1074-21 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z0-1074-21
Exam Name/Title: Oracle Cost Management Cloud 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Cost Management Cloud

Exam Questions: 80
Updated On: Sep 08, 2026

Question #9

Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

A. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.

B. You have the option to share setup data across all cost organizations using the common set.

C. You can share definitions across multiple cost organizations.

D. You don't have to create any definitions for cost books.

E. You can control which definitions are visible to different cost organizations

F. You can streamline your setup effort.

Discussion 0

Correct Answer: A,B,C,F Vote an answer

Question #10

Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

A. Purchase Variance Summary

B. Work Order Costs

C. Cost Processing

D. Journal Entries

E. Inventory Valuation

F. Item CostIdentify two reference types used to tie a receipt trade operation to an expense invoice for landing

Discussion 0

Correct Answer: C,E,F Vote an answer

Question #11

Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

A. Product Information Management > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".

B. Product Information Management > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".

C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.

D. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to At Receipt.

E. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.

F. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to Period End.

Discussion 0

Correct Answer: C,E Vote an answer

Question #12

Which three cost planning tasks can be performed in the Cost Accounting work area?

A. Manage Cost Accounting Periods

B. Review Work Order Costs

C. Estimating Standard Costs for Assemblies

D. Manage Resource Rates

E. Analyzing and Comparing Costs

F. Review Item Costs

Discussion 0

Correct Answer: B,C,D Vote an answer

Explanation: Only visible for EduDump members. You can sign-up / login (it's free).

Question #13

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

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

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

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

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: A,D Vote an answer

Question #14

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 Accounting Methods" process.

B. Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.

C. Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.

D. Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task

E. Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.

Discussion 0

Correct Answer: B,C Vote an answer

Question #15

Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

A. This requirement will already be met by the default data generated when using Quick Setup.

B. Create the cost in Manage Cost Scenarios.

C. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.

D. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.

Discussion 0

Correct Answer: A Vote an answer

Question #16

You have an item with two work definitions. One work definition is production priority 1 and named Plan A.
Another work definition is production priority 2 and named Plan B.
In your cost planning scenario, you have specified the work definition selection criteria as name and then production priority, and you have defined the name as Plan B.
How will the application select the work definition?

A. The application will generate an error because there are two work definitions for the same item.

B. The scenario will choose the work definition that is production priority 1.

C. While you can have more than one work definition for the same item, the cost scenario has no way to unambiguously select one of them.

D. The cost planning scenario will use both work definitions for the item.

E. The application will use the work definition that is named Plan B.

Discussion 0

Correct Answer: B Vote an answer

Download Free Oracle 1Z0-1074-21 Demo

Simply submit your e-mail address below to get started with our free demo of your Oracle 1Z0-1074-21 exam.