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Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

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

2. If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?

A) Rule sets that have a mapping set to convert the accounts
B) Rule sets not associated with any chart of accounts
C) Rule sets where the accounting rules override the method rule set
D) Rule sets assigned to a secondary ledger with a different COA
E) Rule sets that use the same chart of accounts

3. Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

A) The quantity is tracked in inventory but not as an asset until there is an ownership event
B) There is no difference between owned inventory and consigned inventory.
C) Consigned items can appear on inventory reports with information about the eventual value of the consigned item
D) Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
E) The liability for a consigned item occurs when there is an ownership event.
F) A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.

4. Identify four processors available in the cost processor.

A) Cost Distribution Processor
B) Receipt Processor
C) Cost Reports Processor
D) Cost Accounting Processor
E) Cost of Goods Sold Processor
F) Costing Period Processor

5. What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?

A) Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
B) Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
C) Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
D) Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
E) Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status

Solutions: