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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Reporting and Period Close | - Reporting and period close processes |
| Functional Setup and Security | - Use Functional Setup Manager - Configure security roles and access |
| Diagnostics | - Perform diagnostic and troubleshooting tasks |
| Transaction Lifecycle | - Analyze transaction type life cycle |
| Adjust Journal Entries | - Manage and adjust journal entries |
| Modeling Considerations | - Analyze modeling considerations |
| Accounting, Reporting, Audit, and Reconciliation | - Analyze accounting, reporting, audit, and reconciliation requirements |
| Accounting Rule Configuration | - Configure and analyze accounting rules |
| Transaction Data and Automation | - Understand transaction data and automation with web services |
| Source System and Integration | - Register source systems and integration options - Update registered source systems |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
What are all the tabs that areavailable to be completed in the Register Source System spreadsheet?
- A. Source System and Line Information
- B. Source System
- C. Source System, Transaction Information, and Line Information
- D. Source System and Transaction Information
Correct Answer: C 🗳️
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 is not balanced by entered amounts.
- C. It appears correct.
- D. It is not balanced by entered currency.
Correct Answer: A 🗳️
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. You do not need to do anything additional.
- B. Assign a line classification or line type attribute.
- C. Assign an accounting attribute.
- D. Assign a custom formula.
Correct Answer: B 🗳️
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. Create an adjustment journal entry.
- B. Set up a transaction line reversal.
- C. Set up automatic Journal line reversal.
- D. Set up multiperiod accounting journal lines.
Correct Answer: D 🗳️
Which is an alternate way to implement a mappingset rule?
- A. Define a chart of account rule with conditions.
- B. Define a lookup type rule with conditions.
- C. Define a flexfield rule with conditions.
- D. Define an account rule with conditions.
Correct Answer: D 🗳️
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