2022 1z0-1060-22 exam torrent 1z0-1060-22 Study Guide
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Oracle 1z0-1060-22 Exam Syllabus Topics:
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NEW QUESTION 34
Given the business use case:
'New Trucks' runs a fleetof 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 in the contract andrecognized 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, 'New Trucks' needs tobe able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What would the typical line information be?
- A. Company
- B. Customer Number
- C. Truck Type
- D. TransactionDate
Answer: B
NEW QUESTION 35
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. transfer Balances to FAH Reporting Cloud Service
- B. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
- C. upload transaction data into FAH Reporting Cloud Service
- D. provide real-time visibility to financial reports in FAH Reporting Cloud Service
Answer: B
NEW QUESTION 36
Which four components are created by the source system registration upload process in a single step?
- A. Account Rules
- B. Transaction Objects
- C. Description Rules
- D. Event Model
- E. Journal Source
- F. Journal Category
Answer: B,D,E,F
NEW QUESTION 37
You need to build a complex account rule. Which four value types can you use in your definition?
- A. Mapping Set
- B. Existing Account Rule
- C. Value Set
- D. Account Combination
- E. Constant
- F. Source
Answer: A,B,E,F
NEW QUESTION 38
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?
- A. Use the Third Party Control Account feature.
- B. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
- C. Use the Open Account Balances Listing report that has balances by customer.
- D. Use Supporting References to capture customer classification information.
Answer: D
NEW QUESTION 39
Which two actions can you accomplish for a registered source system?
- A. Add new event classes through the user interface.
- B. Revise source Information through the user interface and add more sources.
- C. Modify the subledger application name as long as there are no pending accounting entries.
- D. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
Answer: B,D
NEW QUESTION 40
Which four are the components of a Ledger?
- A. Currency
- B. Accounting Convention
- C. Calendar
- D. Chart of Accounts
- E. Legal Entity
Answer: A,B,C,D
NEW QUESTION 41
A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value that maps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?
- A. There is no required action. The mapping addition is complete.
- B. Activate the journal entry rule set.
- C. Download a new transaction data template.
- D. Activate the accounting method.
Answer: A
NEW QUESTION 42
A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accountingrules to be shared?
- A. One subledger for all 4 source systems.
- B. One subledger for the 3 Loan systems and one subledger for Insurance.
- C. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- D. One subledger for each source system.
Answer: B,D
NEW QUESTION 43
You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?
- A. Run the Accounting Events Diagnostic Report.
- B. Set the "SLA: Diagnostics Enabled" profile option.
- C. Run Create Accounting again to generate journal entries for the events that ended in error.
- D. Submit the Accounting Event Diagnostics process.
Answer: B
NEW QUESTION 44
Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all Journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journal line?
- A. Assign a line classification or line type attribute.
- B. Assign a custom formula.
- C. Assign an accounting attribute.
- D. You do not need to do anything additional.
Answer: A
NEW QUESTION 45
What is the key attribute that is used to query journal entries of a registered source system?
- A. Journal Source
- B. Accounting Date
- C. Transaction Date
- D. Ledger Name
Answer: A
NEW QUESTION 46
In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?
- A. Use a custom formula in a description rule to derive amounts.
- B. Use a custom formula in a supporting reference to derive amounts.
- C. Use a custom formula in an account rule to derive amounts.
- D. Use a custom formula in a journal line rule to derive amounts.
Answer: D
NEW QUESTION 47
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?
- A. Accounting Hub Import Duty Role
- B. Accounting Hub Create and Post Journal Entry Duty Role
- C. Accounting Hub Integration Duty Role
- D. Accounting Hub Create Accounting Duty Role
Answer: C
NEW QUESTION 48
'Insurances for Homes' company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
- A. Multiperiod and Recognition
- B. Reversal and Recognition
- C. Deferral and Recognition
- D. Offsets and Recognition
Answer: A
NEW QUESTION 49
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 in the 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, 'New Trucks' 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 Accounting Hub Cloud?
- A. Set up automatic Journal line reversal.
- B. Set up multiperiod accounting journal lines.
- C. Create an adjustment journal entry.
- D. Set up a transaction line reversal.
Answer: B
NEW QUESTION 50
Which transaction source is used to link transaction header and line information?
- A. Transaction Number
- B. Transaction Date
- C. Transaction Type
- D. Transaction Key
Answer: A
NEW QUESTION 51
Which is an alternate way to implement a mapping set rule?
- A. Define a flexfield rule with conditions.
- B. Define a lookup type rule with conditions.
- C. Define an account rule with conditions.
- D. Define a chart of account rule with conditions.
Answer: C
NEW QUESTION 52
'Insurances for Homes' company provide home insurance service. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the Journal entries.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.
- A. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
- B. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
- C. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)
- D. "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
Answer: A
NEW QUESTION 53
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction type into existing registered subledger from the user interface.
- B. Register it as a new source system.
- C. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- D. Change the transaction data file.
Answer: A,B
NEW QUESTION 54
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