Oracle 1Z1-1074 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z1-1074
Exam Name/Title: Oracle Cost Management Cloud 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Cost Management Cloud

Exam Questions: 80
Updated On: Jul 09, 2026

Question #1

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

C. When asecondary ledger has a different COA

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

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

Discussion 0

Correct Answer: D,E Vote an answer

Question #2

At what level can you define item cost profiles?

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

B. 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.

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

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

Question #3

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 #4

Identify two ways that standard cost is calculated.

A. Users must manually enter the cost of each configured item; the calculation is not automated.

B. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.

C. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes

D. The standard cost is the sum of the cost of the selected option items.

E. The cost of a configured item is calculated based on the work definition of the model item.

Discussion 0

Correct Answer: C,D Vote an answer

Question #5

Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?

A. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.

B. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."

C. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.

D. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.

E. Manually create one cost profile for the normal goods subinventories and one cost profile for the returnedgoods subinventory.

Discussion 0

Correct Answer: B Vote an answer

Question #6

If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?

A. Refer to the Accounting Event Diagnostic report.

B. Query the transaction from Review Cost Accounting Distributions to see the error message.

C. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.

D. Review errors in the Create Accounting Execution report.

Discussion 0

Correct Answer: D Vote an answer

Question #7

Your client needs to import the relevant transactions and tax determinants for their expense items into ReceiptAccounting. 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 Transactions from Receiving to Costing, Transfer Costs to Cost Management

C. Transfer Costs to Cost Management, Transfer Transactions from Inventory to Costing

D. Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing

E. Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management

F. Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing

Discussion 0

Correct Answer: B Vote an answer

Question #8

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

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