1Z0-1074-26 Exam PDF [2026] Tests Free Updated Today with Correct 82 Questions
Oracle 1Z0-1074-26 Exam Preparation Guide and PDF Download
NEW QUESTION # 36
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 can help you with consolidated financial reporting.
- B. It can help you understand true margins and value added by internal business units through the internal supply chain.
- C. 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.
- 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: A,B,E
Explanation:
Reference:
NEW QUESTION # 37
Your client only wants to cost inventory items and third party costs. Which two modules are they required to implement to ensure this functionality?
- A. Product Model
- B. Cost Accounting
- C. Inventory Management
- D. Landed Cost Management
- E. Receipt Accounting
Answer: C
Explanation:
Reference:
NEW QUESTION # 38
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. Run the Transfer Transactions to Costing process.
- B. Close the August period; you can never have two open periods at the same time.
- C. Perform cost account validations for August in Manage Cost Accounting Periods
- D. Change the number of maximum open periods in Manage Cost Organization Relationships
Answer: D
Explanation:
Reference:
NEW QUESTION # 39
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Layer Inventory Valuation Report
- B. Cost Accounting Valuation Report
- C. Costing Account Balances Report
- D. Inventory Valuation Report
- E. Work in Process Inventory Valuation Report
- F. In-transit Valuation Report
- G. COGS and Revenue Matching Report
Answer: A,C,D,F
Explanation:
Reference:
NEW QUESTION # 40
After "Cost Accounting Processor" has processed the physical inventory classification of transactions which transaction types will it process next?
- A. Cost of Goods Sold
- B. Overhead
- C. In-transit
- D. Retro-reprice
- E. Adjustments
Answer: C
Explanation:
Cost Accounting Processor processes is consisted of Physical inventory transactions andTrade transactions. Trade Accounting Processor to process all in-transit transactions.
Reference:
NEW QUESTION # 41
Which statement is true regarding the cost cutoff date in Cost Accounting?
- A. It only affects whether or not you can process a cost adjustment.
- B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
- C. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
- D. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
Answer: B
Explanation:
Reference:
NEW QUESTION # 42
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. Create the cost in Manage Cost Scenarios.
- B. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- C. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
- D. This requirement will already be met by the default data generated when using Quick Setup.
Answer: D
Explanation:
Reference:
NEW QUESTION # 43
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? (Choose Three)
- A. Review errors in the Create Accounting Execution report.
- B. Refer to the Accounting Event Diagnostic Log.
- C. Refer to the Accounting Event Diagnostic report.
- D. Review errors in the Create Accounting Execution log.
- E. Query the transaction from Review Cost Accounting Distributions to see the error message.
Answer: A,C,E
Explanation:
Reference:
NEW QUESTION # 44
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 within an inventory organization. There can be only one cost method for an inventory organization.
- C. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.
- D. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile.
Answer: A
Explanation:
Reference:
NEW QUESTION # 45
Your client originally used Quick Setup to configure Cost Accounting However, after reviewing their costing policies, they realize that they want to cost some of their lots differently then others What must they do to accomplish this?
- A. Quick Setup generates valuation units so they just have to access those valuation units and make their changes.
- B. They cannot change their current configuration; data generated by Quick Setup cannot be changed.
- C. They must create their valuation units manually.
- D. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.
Answer: D
Explanation:
Reference:
NEW QUESTION # 46
Your client wants to turn on summary for GL posting, but they want the Subledger Accounting to contain every transaction unsummarized for detailed analysis and drill down.
How do you accomplish this?
- A. Extract distribution accounting entries.
- B. Turn off the summarize flag in the journal line rule.
- C. Turn on detailed posting for GL in the ledger setup.
- D. Write a custom report.
- E. Turn off merge matching lines in the journal line rule.
Answer: E
Explanation:
Reference:
NEW QUESTION # 47
Identify two ways that standard cost is calculated.
- A. The standard cost of the configured item is based on the purchase order price quoted by the
- B. The standard cost is the sum of the cost of the selected option items.
- C. Users must manually enter the cost of each configured item; the calculation is not automated.
- D. The cost of a configured item is calculated based on the work definition of the model item.
- E. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
Answer: B,E
Explanation:
Reference:
NEW QUESTION # 48
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 expense items to accrue at period end.
- C. Change inventory items to accrue at period end.
- D. Change the Purchasing Line types to 3-way match.
- E. Change the Receipt Close tolerance so it is 100 percent.
Answer: A,D
Explanation:
Reference:
NEW QUESTION # 49
Identify the four types of cost adjustments.
- A. A standard cost update will create an inventory value adjustment.
- B. Authorized users can manually create cost adjustments.
- C. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
- D. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.
- E. A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
Answer: A,B,C,D
NEW QUESTION # 50
Identify two reference types used to tie a receipt trade operation to an expense invoice for landing.
- A. Expense invoice number
- B. Receipt number
- C. Shipment number
- D. Internal requisition number
- E. Bill of Lading
Answer: C,E
Explanation:
Reference:
NEW QUESTION # 51
Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)
- A. Journal Entries
- B. Cost Processing
- C. Purchase Variance Summary
- D. Inventory Valuation
- E. Item Costs
- F. Work Order Costs
Answer: C,D,F
Explanation:
Reference:
NEW QUESTION # 52
Identify four processors available in the cost processor.
- A. Receipt Processor
- B. Cost Accounting Processor
- C. Cost of Goods Sold Processor
- D. Cost Reports Processor
- E. Costing Period Processor
- F. Cost Distribution Processor
Answer: B,C,D,F
Explanation:
Reference:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/fapma/manage-cost-accounting.html#FAPMA146491
NEW QUESTION # 53
You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work are a. Why can't you see this process?
- A. Purchase order information should not be imported into Receipt Accounting.
- B. This process can only be scheduled and run from the Receipt Accounting work area
- C. You do not have the role to import purchase order information into Receipt Accounting.
- D. Purchase order information is automatically sent to Receipt Accounting using a real-time method
- E. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
Answer: D
Explanation:
Reference:
NEW QUESTION # 54
How is the standard cost of a manufactured configured item calculated?
- A. It is based on the actual cost of the work order after it is completed.
- B. The standard cost is calculated for every possible combination of options under a model
- C. The standard cost of a model item is calculated.
- D. It is based on the material and resource requirements of a released work order.
Answer: C
Explanation:
Reference:
NEW QUESTION # 55
When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?
- A. Receivables invoices; actual cost can be used.
- B. Payables invoices; invoice price variance can be added to item cost.
- C. Requisition costs; validated costs can be used.
- D. Receipt costs; costs include adjustments.
- E. Purchase order costs; item catalog costs can be used.
Answer: B
Explanation:
Reference:
NEW QUESTION # 56
Identify four characteristics of a cost element.
- A. It is user-defined.
- B. It is the granularity at which costs are tracked and accounted.
- C. It uses date effectivity.
- D. The mapping of cost components into cost elements is user-defined.
- E. It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
- F. Users can define any number of cost elements.
Answer: A,C,D,E
Explanation:
Reference:
NEW QUESTION # 57
You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
- A. Run the Create Accounting process.
- B. Run the Clear Receipt Accrual Balances process.
- C. Run the Transfer Costs from Payables to Cost Management process.
- D. Run the Transactions from Procurement to Costing process.
- E. Run the Transactions from Receiving to Costing process.
Answer: E
Explanation:
Reference:
NEW QUESTION # 58
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