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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

Question 1

Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included inthe contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'NewTrucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?

A. Set up automatic Journal line reversal.
B. Set up a transaction line reversal.
C. Create an adjustment journal entry.
D. Set up multiperiod accounting journal lines.

Question 2

A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

A. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
B. Request support team to download subledger Journal entry data.
C. Build a new data warehouse solution.
D. Run predefined reports and filter the report with the available report parameters.

Question 3

You need to build a complex account rule. Which four value typescanyou use in yourdefinition?

A. Account Combination
B. Existing Account Rule
C. Mapping Set
D. Source
E. Constant
F. Value Set

Question 4

While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A. The account rule is defined with a different chart of accounts from the journal entry rule set.
B. The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
C. The account rule is defined with conditions that are not allowing the assignment.
D. The account rule does not return any valid account value.

Question 5

Which is an alternate way to implement a mappingset rule?

A. Define a chart of account rule with conditions.
B. Define an account rule with conditions.
C. Define a flexfield rule with conditions.
D. Define a lookup type rule with conditions.

Solutions: