[Aug 13, 2022] Get New 1z0-1060-22 Practice Test Questions Answers
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NEW QUESTION 36
What three are the required elements of an accounting method?
- A. Account rules.
- B. Supporting reference.
- C. Description rules.
- D. Journal line rules.
- E. Journal entry rule sets.
Answer: A,D,E
NEW QUESTION 37
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 a line classification or line type attribute.
- B. Assign a custom formula.
- C. Assign an accounting attribute.
- D. You do not need to do anything additional.
Answer: D
NEW QUESTION 38
Which duty role should be assigned to job role to import transaction data for accounting and posting in General Ledger?
- A. General Accounting Setup Review.
- B. General Accounting Function Administration.
- C. Accounting Hub Integration.
- D. Accounting Hub Administration.
Answer: C
NEW QUESTION 39
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. Request support team to download subledger Journal entry data.
- B. Build a new data warehouse solution.
- C. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
- D. Run predefined reports and filter the report with the available report parameters.
Answer: C
NEW QUESTION 40
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
- A. Manage Accounting Attribute Assignments
- B. Specify Ledger Options
- C. Manage Reporting Currencies
- D. Manage Subledger Accounting Options
Answer: C
NEW QUESTION 41
You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?
- A. Set the "SLA: Diagnostics Enabled" profile option.
- B. Run the Accounting Events Diagnostic Report.
- C. Run Create Accounting again to generate journal entries for the events that ended in error.
- D. Submit the Accounting Event Diagnostics process.
Answer: A
NEW QUESTION 42
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 two journal line rules with a condition of supplier type.
- B. 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.
- C. Create a 30 account combination rule with a condition of expense type.
- D. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
Answer: B
NEW QUESTION 43
You need to build a complex account rule. Which four value types can you use in your definition?
- A. Existing Account Rule
- B. Source
- C. Mapping Set
- D. Account Combination
- E. Constant
- F. Value Set
Answer: A,B,C,E
NEW QUESTION 44
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 wil the typical transaction information be at the header level?
- A. Amount
- B. Currency
- C. Customer Number
- D. Line Type
Answer: C
NEW QUESTION 45
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 the 3 Loan systems and one subledger for Insurance.
- B. One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
- C. One subledger for each source system.
- D. One subledger for all 4 source systems.
Answer: A,D
NEW QUESTION 46
Given the journal:
What is the terminology that is used to identify the "Account Number', 'Original Balance' ,and 'Origination Date' fields?
- A. System Identifier
- B. User Transaction Identifier
- C. Source System Identifier
- D. Attribute Identifier
Answer: B
NEW QUESTION 47
After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?
- A. Add new transaction sources from the user interface.
- B. Register another source system that includes these new transaction sources.
- C. Add new transaction sources in the current source system registration spreadsheet and re-upload the spreadsheet file.
- D. Tell them this cannot be implemented.
Answer: A
NEW QUESTION 48
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 do you set up an account rule that is based on leased and owned trucks?
- A. Set up a mapping set rule.
- B. Set up an account source in the source system file and derive the value.
- C. Set up a lookup value.
- D. Set up a value set rule.
Answer: A
NEW QUESTION 49
Which four of the following are the mandatory parameters to search for a subledger journal on the Review Subledger Journals Page?
- A. Ledger
- B. Date
- C. Status
- D. Event Type
- E. Transaction Number
- F. Journal Source
Answer: A,B,C,F
NEW QUESTION 50
Which transaction source is used to link transaction header and line information?
- A. Transaction Number
- B. Transaction Type
- C. Transaction Key
- D. Transaction Date
Answer: A
NEW QUESTION 51
Which four are the components of a Ledger?
- A. Legal Entity
- B. Accounting Convention
- C. Chart of Accounts
- D. Calendar
- E. Currency
Answer: B,C,D,E
NEW QUESTION 52
Given the business use case:
'New Trucks' runs a fleetof 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 andrecognized 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 tobe 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. Truck Type
- B. Company
- C. Customer Number
- D. TransactionDate
Answer: C
NEW QUESTION 53
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 Integration Duty Role
- C. Accounting Hub Create and Post Journal Entry Duty Role
- D. Accounting Hub Create Accounting Duty Role
Answer: B
NEW QUESTION 54
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