[Sep-2022] Oracle 1Z0-1060-21 Official Cert Guide PDF [Q17-Q40]

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[Sep-2022] Oracle 1Z0-1060-21 Official Cert Guide PDF

Exam 1Z0-1060-21: Oracle Accounting Hub Cloud 2021 Implementation Essentials – TrainingQuiz

NO.17 What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

Accounting Hub Create Accounting Duty Role

Accounting Hub Import Duty Role

Accounting HubIntegration Duty Role

Accounting Hub Create and Post Journal Entry Duty Role

NO.18 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?

Use the Open Account Balances Listing report that has balances by customer.

Use the Third Party Control Account feature.

Use Supporting References to capture customer classification information.

Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

NO.19 Given the business use case:
‘New Trucks’ runs a fleet of trucks in a rental business In the U.S. Themajority 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 do you pass the calculated value for discount amounts in accounting rules to the corresponding journal line?

Assign it to an accounting method.

Assign it to an account rule.

Assign it to a transaction type.

Assign it to an accounting attribute.

NO.20 Which four options are used to reconcile subledger journal entries?

Set up reconciliation using the reconciliation reference accounting attribute.

Assign a descriptive text and source on journal lines.

Run the Subledger Accounting Method Setups report.

Tag supporting references with journal entry lines.

Build a custom OTBIreport.

Run the Subledger Accounting Diagnostics report.

NO.21 A customer’s business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General LedgerJournal Entry Summarization options meets this requirement?

Summarize by GL Date

Summarize by GL Period

Group by GL Date

Transfer in Details

NO.22 What is the key attribute that is used to query journalentries of a registered source system?

Ledger Name

Transaction Date

Journal Source

Accounting Date

NO.23 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?

an Oracle Financial Reporting Studio report

a predefined Oracle Business Intelligence Publisher report

an Oracle Transactional Business Intelligence analysis

a Smart View Report

NO.24 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?

Customer Number

Truck Type

Company

TransactionDate

NO.25 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?

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.

The account rule is defined with conditions that are not allowing the assignment.

The account rule does not return any valid account value.

The account rule is defined with a different chart of accounts from the journal entry rule set.

NO.26 Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?

Specify Ledger Options

Manage Accounting Attribute Assignments

Manage Reporting Currencies

Manage Subledger Accounting Options

NO.27 How do you enable diagnostics on subledger transaction sources?

enable diagnostic profile

enable diagnostic attribute

enable diagnostic source

enable transaction debug

NO.28 In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?

Use a custom formula in an account rule to derive amounts.

Use a custom formula in a description rule to derive amounts.

Use a custom formula in a journal line rule to derive amounts.

Use a custom formula in a supporting reference to derive amounts.

NO.29 Which transaction source is used to link transaction header and line information?

Transaction Key

Transaction Type

Transaction Date

Transaction Number

NO.30 What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

Virtual Machine Processing Size

Accounting Unit Commit Size

Buffer Unit Size

Processing Unit Size

NO.31 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?

Pay Insurance and Control Truck Services

Initiate Truck Rentals Contract and Pay Truck Maintenance

Purchase Trucks and Deploy Trucks

Purchase Trucks and Pay Out Trucks

NO.32 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?

Set the “SLA: Diagnostics Enabled” profile option.

Run Create Accounting again to generate journal entries for the events that ended in error.

Submit the Accounting Event Diagnostics process.

Run the Accounting Events DiagnosticReport.

NO.33 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?

Add this as a new transaction type into existing registered subledger from the user interface.

Add this as a new transaction typo into existing subledger registration spreadsheet template.

Change the transaction data file.

NO.34 What can you override in a completed subledger journal entry?

the amounts

the descriptions

the account

the supporting Information

NO.35 Which three duty roles are required to perform Accounting Hub setup tasks?

Accounting Hub Maintenance

Subledger Accounting Manager

Accounting Hub Administration

Application Implementation Consultant

Accounting Hub Integration

NO.36 What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?

Reporting Sequence

Accounting Sequence

Journal Entry Sequence

Document Sequence

NO.37 What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?

ERP Integration Service

Oracle Web Center Content Client Command line tool

Oracle Virtual Web Center Services

Oracle UCM Web Services

NO.38 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?

One subledger for the 3 Loan systems and one subledger for Insurance.

One subledger for each source system.

One subledger for all 4 source systems.

One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.

NO.39 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?

Journal Entry

Journal Entry Rule Set

Event Class

Journal Line Rule

Event Type

NO.40 What is NOT included in the minimum required accountingattribute assignments?

Second Distribution Identifier

First Distribution Identifier

Distribution Type

Accounting Date

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