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

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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 Pay Out Trucks
B) Purchase Trucks and Deploy Trucks
C) Pay Insurance and Control Truck Services
D) Initiate Truck Rentals Contract and Pay Truck Maintenance

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

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

3. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A) 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.
B) The account rule is defined with conditions that are not allowing the assignment.
C) The account rule does not return any valid account value.
D) The account rule is defined with a different chart of accounts from the journal entry rule set.

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

5. Which four options are used to reconcile subledger journal entries?

A) Tag supporting references with journal entry lines.
B) Run the Subledger Accounting Diagnostics report.
C) Assign a descriptive text and source on journal lines.
D) Build a custom OTBIreport.
E) Run the Subledger Accounting Method Setups report.
F) Set up reconciliation using the reconciliation reference accounting attribute.

Solutions: