Updated Sep-2026 1Z0-1074-26 Free Exam Files Downloaded Instantly [Q41-Q56]

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Updated Sep-2026 1Z0-1074-26 Free Exam Files Downloaded Instantly

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Oracle 1Z0-1074-26 Exam Syllabus Topics:

Section	Objectives
Integration with Oracle Cloud Applications	– Integration with Financials and Subledger Accounting – Integration with Inventory and Manufacturing
Cost Management Overview	– Costing methods and principles – Cost accounting concepts in Oracle Cloud
Cost Processing	– Material cost accounting – Cost distribution and adjustments – Resource and overhead costing
Cost Analysis and Reporting	– Cost reconciliation and variance analysis – Cost reports and inquiries
Setup and Configuration	– Cost organization and cost book setup – Inventory valuation and accounting setup – Subledger accounting configuration

Q41. Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “No”.

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

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

Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “Yes”.

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

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

Reference:

Q42. 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)

Refer to the Accounting Event Diagnostic report.

Review errors in the Create Accounting Execution log.

Review errors in the Create Accounting Execution report.

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

Refer to the Accounting Event Diagnostic Log.

Reference:

Q43. Which two outcomes can happen in create accounting when an account combination returned is end dated?

The original account is stored on the journal line.

Suspense accounts cannot be used.

An alternate account will be used if provided.

An error will always occur.

The preprocessor will pre-warn about this error.

Reference:
https://docs.oracle.com/en/cloud/saas/financials/18b/faisl/subledger-accounting-setup.html#FAISL212668

Q44. Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four)

You can share definitions across multiple cost organizations.

You can control which definitions are visible to different cost organizations

You can streamline your setup effort.

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

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

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

Reference:

Q45. Assume today is November 15, 2015, and you are getting ready to implement new standard costs for the new year Your cost planning scenario has a January 1, 2016 effective date. An item has three work definitions. One work definition has an October l, 2015 effective date. A second work definition has a December 1, 2015 effective date. A third work definition has a January 2, 2016 effective date.
How will the application select the work definition?

It will use the work definition with the January 2, 2016 effective date.

Depending on the selection criteria, it will use the work definition with the December l, 2015 effective date or the work definition with the October l, 2015 effective date.

It must always use the work definition with the October 1, 2015 effective date.

You will receive an error because the application will detect that all three are plausible, and it will be unable to determine which one to choose.

Reference:

Q46. Your client wants their expense items to be accrued at receipt. Which two configurations support this requirement?

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

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

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

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

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

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

Reference:

Q47. 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?

Receipt Accounting- Receipt Accounting Distributions Real Time

Receipt Accounting– Receipt Accounting Transactions Real Time

Costing -Receipt Accounting Real Time

Financials-Subledger Accounting-Detail Transactions

Costing-Cost Accounting Real Time

Reference:

Q48. 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.

The item has no on-hand inventory.

The assembly item is marked as Perpetual Average costed.

Outstanding purchase orders have not been received.

The Work Definition is incomplete.

Burdens have not been established for the item

Reference:

Q49. 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?

Run the “Activate Subledger Journal Entry Rule Set Assignments” process.

Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.

Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

Run the “Activate Accounting Methods” process.

Add the subledger journal entry rule sets to the Manage Accounting Methods task.

Q50. After “Cost Accounting Processor” has processed the physical inventory classification of transactions which transaction types will it process next?

In-transit

Retro-reprice

Adjustments

Overhead

Cost of Goods Sold

Cost Accounting Processor processes is consisted of Physical inventory transactions andTrade transactions. Trade Accounting Processor to process all in-transit transactions.
Reference:

Q51. 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?

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

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

Create the cost in Manage Cost Scenarios.

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

Reference:

Q52. Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?

Business Unit and Cost Organization

Inventory Organization and Legal Entity

Business Unit and Legal Entity

Business Unit and Inventory Organization

Legal Entity and Cost Organization

Inventory Organization and Cost Organization

Reference:

Q53. Select two ways to define the standard cost for an item from the Cost Accounting work area.

Manage the Item Cost task.

Import standard costs from receipt layers.

Manage the Standard Cost task.

Create Standard Cost in a spreadsheet.

Reference:

Q54. You have just finished modifying an accounting method. What is the final step to complete the accounting method configuration?

Activate its journal entry rule set assignments.

Transfer costs to Cost Management.

Create Accounting.

Transfer transactions from Receiving to Costing.

Execute the Preprocessor.

Reference:

Q55. Select two ways to define the standard cost for an item from the Cost Accounting work area.

Create Standard Cost in a spreadsheet.

Import standard costs from receipt layers.

Manage the Standard Cost task.

Manage the Item Cost task.

Q56. What are three cost method choices that are available in Cost Accounting?

Period end average cost

Actual cost (LIFO or Last In First Out)

Periodic average cost

Standard cost

Perpetual average cost

Actual cost (FIFO or First In First Out)

Reference:

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Oracle 1Z0-1074-26 Exam Syllabus Topics:

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