Pass 1z0-1060-22 Exam in First Attempt Guaranteed 100% Cover Real Exam Questions [May-2024]
Valid 1z0-1060-22 test answers & Oracle 1z0-1060-22 exam pdf
NEW QUESTION # 33
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?
- A. Assign it to a transaction type.
- B. Assign it to an accounting method.
- C. Assign it to an account rule.
- D. Assign it to an accounting attribute.
Answer: D
NEW QUESTION # 34
Which four are the components of a Ledger?
- A. Chart of Accounts
- B. Accounting Convention
- C. Currency
- D. Calendar
- E. Legal Entity
Answer: A,B,C,D
NEW QUESTION # 35
What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?
- A. Oracle Virtual Web Center Services
- B. Oracle UCM Web Services
- C. Oracle Web Center Content Client Command line tool
- D. ERP Integration Service
Answer: A
NEW QUESTION # 36
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 Class
- B. Event Type
- C. Journal Entry Rule Set
- D. Journal Line Rule
- E. Journal Entry
Answer: D
NEW QUESTION # 37
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 classification information. 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 Supporting References to capture customer classification information.
- C. Use the Open Account Balances Listing report that has balances by customer.
- D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
Answer: B
NEW QUESTION # 38
Which component of the Accounting Method is used to store additional source information about transactions and is also useful for reconciliation of accounting to source systems, as well as reporting?
- A. Description Rules
- B. Supporting References
- C. Conditions
- D. Journal Line Rules
Answer: B
NEW QUESTION # 39
Which three duty roles are required to perform Accounting Hub setup tasks?
- A. Subledger Accounting Manager
- B. Application Implementation Consultant
- C. Accounting Hub Integration
- D. Accounting Hub Maintenance
- E. Accounting Hub Administration
Answer: A,B,C
NEW QUESTION # 40
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.
How can the automatic recognition of insurance income be implemented in Accounting Hub 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 # 41
Which four components are created by the source system registration upload process in a single step?
- A. Transaction Objects
- B. Account Rules
- C. Description Rules
- D. Journal Source
- E. Event Model
- F. Journal Category
Answer: A,D,E,F
NEW QUESTION # 42
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. The user can customize the date format
- B. MM-DD-YYYY
- C. YYYY-MM-DD
- D. DD-MON-YYYY
Answer: C
NEW QUESTION # 43
Given the subledger journal entry:
Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?
- A. It is notbalanced by balancing segment.
- B. It appears correct.
- C. It is not balanced by entered currency.
- D. It is not balanced by entered amounts.
Answer: A
NEW QUESTION # 44
Which two options allow validating input values on mapping sets?
- A. Segment values
- B. Value sets
- C. Lookup types
- D. Chart of accounts segment
Answer: B,C
NEW QUESTION # 45
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?
- A. Accounting Hub Import Duty Role
- B. Accounting Hub Create Accounting Duty Role
- C. Accounting Hub Create and Post Journal Entry Duty Role
- D. Accounting Hub Integration Duty Role
Answer: D
NEW QUESTION # 46
'Insurances for Homes' company provide home insurance service. 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 premium Is 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. Reversal and Recognition
- B. Deferral and Recognition
- C. Offsets and Recognition
- D. Multiperiod and Recognition
Answer: B
NEW QUESTION # 47
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 accounting rules to be shared?
- A. One subledger for each source system.
- B. One subledger for all 4 source systems.
- C. One subledger for the 3 Loan systems and one subledger for Insurance.
- D. One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
Answer: B,C
NEW QUESTION # 48
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
- A. Manage Reporting Currencies
- B. Specify Ledger Options
- C. Manage Subledger Accounting Options
- D. Manage Accounting Attribute Assignments
Answer: A
NEW QUESTION # 49
How many transaction eventclasses can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. Unlimited
- B. One
- C. Three
- D. Two
Answer: C
NEW QUESTION # 50
Which function of Smart View create multiple reports from dimension values by using same grid structure?
- A. Drill-through.
- B. Pivoting.
- C. Cascading.
- D. Zooming in and out.
Answer: C
NEW QUESTION # 51
Your customer has decided to implement Accounting Hub to generate journal entries for one of their billing systems. They want to track the revenue amounts generated by each of the account managers.
What must they define to meet this requirement?
- A. Description rule with Account Managers as a source.
- B. Description rule with Revenue Amount as a source.
- C. Supporting reference with balance using Account Manager as a source.
- D. Supporting reference without balance using Account Manager as a source.
Answer: C
NEW QUESTION # 52
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 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 are the key transaction types mentioned in the use case?
- A. Purchase Trucks and Deploy Trucks
- B. Pay Insurance and Control Truck Services
- C. Purchase Trucks and Pay Out Trucks
- D. Initiate Truck Rentals Contract and Pay Truck Maintenance
Answer: D
NEW QUESTION # 53
A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?
- A. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
- B. Request support team to download subledger Journal entry data.
- C. Build a new data warehouse solution.
- D. Run predefined reports and filter the report with the available report parameters.
Answer: A
NEW QUESTION # 54
What can you override in a completed subledger journal entry?
- A. the amounts
- B. the supporting Information
- C. the account
- D. the descriptions
Answer: C
NEW QUESTION # 55
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 analytical calculations
- C. Use flexfield
- D. Usecustom formulas
Answer: D
NEW QUESTION # 56
Which three are mandatory transaction source information?
- A. Distribution Link
- B. Ledger Name
- C. Transaction Date
- D. Transaction Line
- E. Transaction Number
Answer: B,C,E
NEW QUESTION # 57
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. Build an OTBI analysis that includes a relevant subject area.
- B. Build a Financial Reporting Studio report that includes all dimensions.
- C. Create a Smart View report using the query designer feature.
- D. Use either Account Monitor or Account Inspector to get required Information.
Answer: A
NEW QUESTION # 58
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