1Z0-1060-21 Exam Dumps Pass with Updated Jan-2022 Tests Dumps
1Z0-1060-21 exam questions for practice in 2022 Updated 62 Questions
NEW QUESTION 27
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 classificationinformation.
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. Use the Open Account Balances Listing report that has balances by customer.
- C. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
- D. Use Supporting References to capture customer classification information.
Answer: D
NEW QUESTION 28
After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?
- A. Add new transaction sources in the current source system registration spreadsheet and re-upload the spreadsheet file.
- B. Register another source system that includes these new transaction sources.
- C. Add new transaction sources from the user interface.
- D. Tell them thiscannot be implemented.
Answer: C
NEW QUESTION 29
Which two actions can you accomplish for a registered source system?
- A. Modify the subledger application name as long as thereare no pending accounting entries.
- B. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
- C. Add new event classes through the user interface.
- D. Revise source Information through the user interface and add more sources.
Answer: B,D
NEW QUESTION 30
Which three duty roles are required to perform Accounting Hub setup tasks?
- A. Application Implementation Consultant
- B. Accounting Hub Maintenance
- C. Subledger Accounting Manager
- D. Accounting Hub Integration
- E. Accounting Hub Administration
Answer: A,D,E
NEW QUESTION 31
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?
- A. Event Type
- B. Event Class
- C. Journal Entry
- D. Journal Line Rule
- E. Journal Entry Rule Set
Answer: D
NEW QUESTION 32
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 the 3 Loan systems and one subledger for Insurance.
- B. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- C. One subledger for all 4 source systems.
- D. One subledger for each source system.
Answer: A,C
NEW QUESTION 33
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 multiperiod accounting journal lines.
- B. Set up a transaction line reversal.
- C. Create an adjustment journal entry.
- D. Set up automatic Journal line reversal.
Answer: A
NEW QUESTION 34
Which two can you use to view supporting reference balances?
- A. Use the Supporting Reference Balance Inquiry page.
- B. Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.
- C. Submit the standard Supporting Reference Balances Report.
- D. Use Business Intelligence Publisher to build a custom report.
Answer: A,B
NEW QUESTION 35
'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. Offsets and Recognition
- B. Deferral and Recognition
- C. Multiperiod and Recognition
- D. Reversal and Recognition
Answer: B
NEW QUESTION 36
What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?
- A. Use Oracle ERP Integration tool.
- B. Use PaaS tools, for example, ICS - to perform ETL tasks.
- C. Use a web service tool.
- D. Use Oracle OTBI tool.
Answer: B
NEW QUESTION 37
What is NOT included in the minimum required accountingattribute assignments?
- A. Accounting Date
- B. Distribution Type
- C. First Distribution Identifier
- D. Second Distribution Identifier
Answer: D
NEW QUESTION 38
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 Journalline?
- A. Assign an accounting attribute.
- B. Assign a custom formula.
- C. Assign a line classification or line type attribute.
- D. You do not need to do anything additional.
Answer: C
NEW QUESTION 39
After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?
- A. a Smart View Report
- B. an Oracle Transactional Business Intelligence analysis
- C. an Oracle Financial Reporting Studio report
- D. a predefined Oracle Business Intelligence Publisher report
Answer: B
NEW QUESTION 40
What are all the tabs that areavailable to be completed in the Register Source System spreadsheet?
- A. Source System and Line Information
- B. Source System, Transaction Information, and Line Information
- C. Source System
- D. Source System and Transaction Information
Answer: B
NEW QUESTION 41
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 thirdparties 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.
What do you do to enable costs flow from 'New Truck' to 'Fix Truck'?
- A. Enable legal entity rule
- B. Enable chart of accounts rule
- C. Enable balancing rules
- D. Enable intercompany balancing option
Answer: D
NEW QUESTION 42
There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on theentered amounts for the line.
What is the solution to implement this requirement?
- A. define journal line rules with conditions
- B. define journal entry rule set with condition
- C. define user transaction lineidentifier
- D. define line description rule with condition
Answer: D
NEW QUESTION 43
Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?
- A. Manage Subledger Accounting Options
- B. Specify Ledger Options
- C. Manage Accounting Attribute Assignments
- D. Manage Reporting Currencies
Answer: D
NEW QUESTION 44
A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.
How can you meet this requirement?
- A. Create a Smart View report using the query designer feature.
- B. Use either Account Monitor or Account Inspector to getrequired Information.
- C. Build a Financial Reporting Studio report that includes all dimensions.
- D. Build an OTBI analysis that includes a relevant subject area.
Answer: D
NEW QUESTION 45
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. Set the "SLA: Diagnostics Enabled" profile option.
- B. Submit the Accounting Event Diagnostics process.
- C. Run Create Accounting again to generate journal entries for the events that ended in error.
- D. Run the Accounting Events DiagnosticReport.
Answer: A
NEW QUESTION 46
Given the business use case:
'New Trucks' runs a fleet of trucks in a rentalbusiness 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: totalmaintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How manyledgers are required to be set up?
- A. One primary ledger
- B. Two primary ledgers
- C. One primary, one repotting currency ledger
- D. One primary, one secondary ledger
Answer: A
NEW QUESTION 47
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 sourcecode 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 do you calculate discounts for use in the accounting rule?
- A. Use mapping set rules
- B. Use flexfield
- C. Usecustom formulas
- D. Use analytical calculations
Answer: C
NEW QUESTION 48
Given the business requirement in the 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 sourcecode 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.
What are the key transaction types mentioned in the use case?
- A. Pay Insurance and Control Truck Services
- B. Initiate Truck Rentals Contract and Pay Truck Maintenance
- C. Purchase Trucks and Pay Out Trucks
- D. Purchase Trucks and Deploy Trucks
Answer: B
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 andloss 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 do you set up an account rule that is based on leased and owned trucks?
- A. Set up an account source in the source system file and derive the value.
- B. Set up a lookup value.
- C. Set up a value set rule.
- D. Set up a mapping set rule.
Answer: D
NEW QUESTION 50
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