Oracle 1z0-1074-23 : Oracle Cost Management Cloud 2023 Implementation Essentials

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Exam Code: 1z0-1074-23

Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials

Updated: Sep 14, 2026

Q & A: 80 Questions and Answers

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Oracle 1z0-1074-23 Exam Syllabus Topics:
SectionObjectives
Topic 1: Inventory and Work Order Costing- Inventory transactions costing
- Manufacturing and work order costing
Topic 2: Cost Management Cloud Overview- Integration with Oracle SCM Cloud
- Key business processes and architecture
Topic 3: Setup and Configuration- Costing methods configuration
- Inventory valuation setup
- Cost organization and cost profiles setup
Topic 4: Cost Accounting and Processing- Period close and cost rollup
- Cost accounting distributions
- Cost calculation processes
Topic 5: Reporting and Analysis- Cost reconciliation and audit
- Cost analysis reports
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Question #1

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. Perform cost account validations for August in Manage Cost Accounting Periods
  • B. Close the August period; you can never have two open periods at the same time.
  • C. Change the number of maximum open periods in Manage Cost Organization Relationships
  • D. Run the Transfer Transactions to Costing process.
Answer: C
Question #2

Your client would like to accrue expense items at period end. What subledger journal entry rule set must be created in order for the expense accrual Journal entries to be successfully generated?

  • A. Event Class: Purchase Order Price Adjustment Event Type: Period End Accrual
  • B. Event Class: Purchase Order Price Adjustment Event Type: Expense Accrual
  • C. Event Class: Expense Accrual Event Type: Period End Accrual
  • D. Event Class: Expense Accrual Event Type: Expense Accrual
  • E. Event Class: Period End Accrual Event Type: Period End Accrual
Answer: E
Question #3

A chart of accounts (COA) must be specified on the accounting method for which two situations?

  • A. When using ledgers that have unique accounting requirements
  • B. When account combination rules use constants
  • C. When using segment rules
  • D. Every accounting method should have a COA.
  • E. When using account combination rules
Answer: C,D
Question #4

Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)

  • A. COGS and Revenue Matching Report
  • B. Work in Process Inventory Valuation Report
  • C. In-transit Valuation Report
  • D. Costing Account Balances Report
  • E. Layer Inventory Valuation Report
  • F. Inventory Valuation Report
  • G. Cost Accounting Valuation Report
Answer: C,D,E,F
Question #5

Which two steps need to be completed to estimate landed costs?

  • A. Transfer transactions from the Payables to the Costing process.
  • B. Allocate charges
  • C. Update standard costs.
  • D. Transfer transactions from the Inventory to the Costing process.
  • E. Prepare the Material Purchase Order Data process.
Answer: B,E
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