Oracle Accounting Hub Cloud 2021 Implementation Essentials : 1Z0-1060-21

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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) Run Create Accounting again to generate journal entries for the events that ended in error.
B) Submit the Accounting Event Diagnostics process.
C) Set the "SLA: Diagnostics Enabled" profile option.
D) Run the Accounting Events DiagnosticReport.

2. You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.
Which two traits can help you explain this feature?

A) The account override feature adjusts the original source transaction.
B) The account override feature provides an audit trail by preserving the original subledger journal entry.
C) The account override feature allows users to record a reason for the adjustment.
D) The account override feature is only intended to correct subledger journals that have been posted.

3. Which two actions can you accomplish for a registered source system?

A) Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
B) Add new event classes through the user interface.
C) Modify the subledger application name as long as thereare no pending accounting entries.
D) Revise source Information through the user interface and add more sources.

4. 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 sourcecode 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) Initiate Truck Rentals Contract and Pay Truck Maintenance
C) Purchase Trucks and Pay Out Trucks
D) Pay Insurance and Control Truck Services

5. The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?

A) Add this as a new transaction type into existing registered subledger from the user interface.
B) Add this as a new transaction typo into existing subledger registration spreadsheet template.
C) Register it as a new source system.
D) Change the transaction data file.

Solutions: