Oracle Accounting Hub Cloud 2020 Implementation Essentials - 1Z0-1060-20

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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) Journal Line Rule
B) Event Class
C) Event Type
D) Journal Entry Rule Set
E) Journal Entry

2. 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.
What would the typical line information be?

A) Company
B) Transaction Date
C) Customer Number
D) Truck Type

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

A) 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.
B) The account rule is defined with conditions that are not allowing the assignment.
C) The account rule does not return any valid account value.
D) The account rule is defined with a different chart of accounts from the journal entry rule set.

4. Which four options are used to reconcile subledger journal entries?

A) Build a custom OTBI report.
B) Tag supporting references with journal entry lines.
C) Assign a descriptive text and source on journal lines.
D) Run the Subledger Accounting Diagnostics report.
E) Run the Subledger Accounting Method Setups report.
F) Set up reconciliation using the reconciliation reference accounting attribute.

5. 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 typo into existing subledger registration spreadsheet template.
B) Add this as a new transaction type into existing registered subledger from the user interface.
C) Change the transaction data file.
D) Register it as a new source system.

Solutions: