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Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

1. 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?

A) Run the "Activate Accounting Methods" process.
B) Run the "Activate Subledger Journal Entry Rule Set Assignments" process.
C) Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.
D) Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task.
E) Add the subledger journal entry rule sets to the Manage Accounting Methods task.

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

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

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

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

4. 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 will use the work definition with the January 2, 2016 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.

5. Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.)

A) Inventory Valuation
B) Item Costs
C) Cost Processing
D) Journal Entries
E) Work Order Costs
F) Purchase Variance Summary

Solutions: