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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Accounting Rule Configuration | - Configure and analyze accounting rules |
| Topic 2: Source System and Integration | - Register source systems and integration options - Update registered source systems |
| Topic 3: Functional Setup and Security | - Configure security roles and access - Use Functional Setup Manager |
| Topic 4: Diagnostics | - Perform diagnostic and troubleshooting tasks |
| Topic 5: Transaction Data and Automation | - Understand transaction data and automation with web services |
| Topic 6: Reporting and Period Close | - Reporting and period close processes |
| Topic 7: Transaction Lifecycle | - Analyze transaction type life cycle |
| Topic 8: Accounting, Reporting, Audit, and Reconciliation | - Analyze accounting, reporting, audit, and reconciliation requirements |
| Topic 9: Adjust Journal Entries | - Manage and adjust journal entries |
| Topic 10: Modeling Considerations | - Analyze modeling considerations |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
Question 1
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?
A. The account rule is defined with conditions that are not allowing the assignment.
B. 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.
C. The account rule is defined with a different chart of accounts from the journal entry rule set.
D. The account rule does not return any valid account value.
Question 2
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 Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
C. One subledger for each source system.
D. One subledger for the 3 Loan systems and one subledger for Insurance.
Question 3
Which two options allow validating input values on mapping sets?
A. Segment values
B. Chart of accounts segment
C. Lookup types
D. Value sets
Question 4
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 entry rule set with condition
B. define line description rule with condition
C. define journal line rules with conditions
D. define user transaction lineidentifier
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 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 automatic Journal line reversal.
B. Set up a transaction line reversal.
C. Set up multiperiod accounting journal lines.
D. Create an adjustment journal entry.
Solutions:
| Question 1 Answer: B,C | Question 2 Answer: A,D | Question 3 Answer: C,D | Question 4 Answer: B | Question 5 Answer: C |
