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

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

Question 1

A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?

A. Transfer in Details
B. Group by GL Date
C. Summarize by GL Period
D. Summarize by GL Date

Question 2

Which is an alternate way to implement a mapping set rule?

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

Question 3

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 the entered amounts for the line.
What is the solution to implement this requirement?

A. define journal line rules with conditions
B. define user transaction line identifier
C. define line description rule with condition
D. define journal entry rule set with condition

Question 4

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 custom formula.
B. Assign a line classification or line type attribute.
C. You do not need to do anything additional.
D. Assign an accounting attribute.

Question 5

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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

A. One primary, one secondary ledger
B. One primary, one repotting currency ledger
C. Two primary ledgers
D. One primary ledger

Solutions: