1z0-1060-22 Exam Dumps Pass with Updated 2023 Certified Exam Questions
1z0-1060-22 Exam Questions - Real & Updated Questions PDF
Oracle 1z0-1060-22 Exam Syllabus Topics:
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NEW QUESTION 33
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
- A. Manage Reporting Currencies
- B. Manage Accounting Attribute Assignments
- C. Manage Subledger Accounting Options
- D. Specify Ledger Options
Answer: A
NEW QUESTION 34
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. Usecustom formulas
- B. Use mapping set rules
- C. Use flexfield
- D. Use analytical calculations
Answer: A
NEW QUESTION 35
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. Purchase Trucks and Pay Out Trucks
- C. Pay Insurance and Control Truck Services
- D. Initiate Truck Rentals Contract and Pay Truck Maintenance
Answer: D
NEW QUESTION 36
Based on a unique combination of which two components is a new standard Balance cube automatically created for a primary or secondary ledger?
- A. Calendar and currency.
- B. Chart of account and currency.
- C. Chart of account and convention.
- D. Chart of account and calendar.
Answer: D
NEW QUESTION 37
How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. Two
- B. One
- C. Unlimited
- D. Three
Answer: B
NEW QUESTION 38
What three are the required elements of an accounting method?
- A. Account rules.
- B. Description rules.
- C. Supporting reference.
- D. Journal line rules.
- E. Journal entry rule sets.
Answer: A,D,E
NEW QUESTION 39
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 Journalline?
- A. Assign an accounting attribute.
- B. Assign a line classification or line type attribute.
- C. Assign a custom formula.
- D. You do not need to do anything additional.
Answer: D
NEW QUESTION 40
'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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. Deferral and Recognition
- B. Reversal and Recognition
- C. Multiperiod and Recognition
- D. Offsets and Recognition
Answer: C
NEW QUESTION 41
Which four components are created by the source system registration upload process in a single step?
- A. Account Rules
- B. Transaction Objects
- C. Event Model
- D. Journal Category
- E. Description Rules
- F. Journal Source
Answer: B,C,D,F
NEW QUESTION 42
Which three are mandatory transaction source information?
- A. Distribution Link
- B. Transaction Line
- C. Ledger Name
- D. Transaction Number
- E. Transaction Date
Answer: B,C,E
NEW QUESTION 43
Which duty role should be assigned to job role to import transaction data for accounting and posting in General Ledger?
- A. Accounting Hub Integration.
- B. General Accounting Setup Review.
- C. General Accounting Function Administration.
- D. Accounting Hub Administration.
Answer: A
NEW QUESTION 44
Which is used to track a specific transaction attribute on subledger journal entries?
- A. value set rules
- B. lookup value rules
- C. supporting references
- D. account rules
Answer: C
NEW QUESTION 45
What attribute of a subledger journal entry is NOT transferred to GL?
- A. Supporting references
- B. Accounting class
- C. Accounted amounts
- D. Accounting lines
Answer: A
NEW QUESTION 46
Which four components are related to the Accounting Hub?
- A. Financial Reporting
- B. Sub Ledgers
- C. Accounting Transformations
- D. Outbound Integration
- E. General Ledger
Answer: A,B,C,E
NEW QUESTION 47
'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. Multiperiod and Recognition
- B. Reversal and Recognition
- C. Offsets and Recognition
- D. Deferral and Recognition
Answer: D
NEW QUESTION 48
Under which condition can you override the General Ledger account on an existing subledger journal that is generated by the Import Accounting Transaction Process?
- A. The Status of the Journal is in error
- B. The Status of the Journal is Draft
- C. The Status of the Journal is Final with any posting status
- D. The Status of the Journal is Incomplete
Answer: B
NEW QUESTION 49
'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.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.
- A. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)
- B. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
- C. "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
- D. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
Answer: D
NEW QUESTION 50
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?
- A. Accounting Sequence
- B. Reporting Sequence
- C. Document Sequence
- D. Journal Entry Sequence
Answer: A
NEW QUESTION 51
What is a user job role data context assignment?
- A. Security data role context assignment to a user job role
- B. Duty role context assignment to a user
- C. Security data access context assignment to a user job role
- D. Security privileges assignment to a user job role
Answer: C
NEW QUESTION 52
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 does not return any valid account value.
- B. The account rule is defined with a different chart of accounts from the journal entry rule set.
- C. 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.
- D. The account rule is defined with conditions that are not allowing the assignment.
Answer: B,C
NEW QUESTION 53
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?
- A. a Smart View Report
- B. an Oracle Transactional Business Intelligence analysis
- C. an Oracle Financial Reporting Studio report
- D. a predefined Oracle Business Intelligence Publisher report
Answer: B
NEW QUESTION 54
Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?
- A. Create a 30 account combination rule with a condition of expense type.
- B. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
- C. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.
- D. Create two journal line rules with a condition of supplier type.
Answer: C
NEW QUESTION 55
You have recently registered a new source system and now the customer wants you to add another event type within this source system. What is the correct method to add another event type?
- A. Create another source system with the new event type and merge it with the previous source system
- B. Add the new Event Type from the User Interface by navigating to the Manage Subledger Application Page
- C. Register the source system again by including the New Event Type
- D. Download the template again with the source system data, add the new event type, and upload the data again
Answer: B
NEW QUESTION 56
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 an accounting attribute.
- B. Assign it to an account rule.
- C. Assign it to an accounting method.
- D. Assign it to a transaction type.
Answer: A
NEW QUESTION 57
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. Transaction Date
- B. Customer Number
- C. Company
- D. Truck Type
Answer: D
NEW QUESTION 58
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