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Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

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

A) Periodic average cost
B) Actual cost (LIFO or Last In First Out)
C) Actual cost (FIFO or First In First Out)
D) Perpetual average cost
E) Period end average cost
F) Standard cost

2. 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?

A) 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.
B) It must always use the work definition with the October 1, 2015 effective date.
C) 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.
D) It will use the work definition with the January 2, 2016 effective date.

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

A) Activate its journal entry rule set assignments.
B) Transfer transactions from Receiving to Costing.
C) Create Accounting.
D) Execute the Preprocessor.
E) Transfer costs to Cost Management.

4. Which three tasks can be completed in the Receipt Accounting work area?

A) Review Cost Accounting Distributions
B) Manage Accrual Clearing Rules
C) Create Accounting
D) Review and Approve Item Cost Profiles
E) Create Receipt Accounting Distributions
F) Review Item Costs

5. 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) Inventory Management
B) Landed Cost Management
C) Cost Accounting
D) Receipt Accounting
E) Product Model

Solutions: