Oracle New 2023 1z0-1060-22 Sample Questions Reliable 1z0-1060-22 Test Engine [Q30-Q51]

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Oracle New 2023 1z0-1060-22 Sample Questions Reliable 1z0-1060-22 Test Engine

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NEW QUESTION 30
Which statement is true about accounting transformation?

It is the process of converting transaction or activities from any source systems into journal entries.

It allows recording of transaction directly in the registration third-party source system.

It is used to build approval rules for transaction recorded in third party source system.

It is the process of converting transaction or activities into journal entries that are recorded only Oracle -owned source system.

NEW QUESTION 31
Which two actions can you accomplish for a registered source system?

Add new event classes through the user interface.

Modify the subledger application name as long as there are no pending accounting entries.

Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.

Revise source Information through the user interface and add more sources.

NEW QUESTION 32
What is “Opt-In,” in the context of the Functional Setup Manager?

It is a step where you enter the setup data necessary for your enabled offerings and functional areas

It is a step where you can select the offerings, functional areas, and features that best fit your business requirements

It is a step where you move verified data into the production environment

It is a step where you will identify the offerings that you want to implement

NEW QUESTION 33
Which four are the components of a Ledger?

Currency

Calendar

Legal Entity

Chart of Accounts

Accounting Convention

NEW QUESTION 34
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 accountingrules to be shared?

One subledger for the 3 Loan systems and one subledger for Insurance.

One subledger for each source system.

One subledger for all 4 source systems.

One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.

NEW QUESTION 35
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?

Set up a mapping set rule.

Set up a lookup value.

Set up a value set rule.

Set up an account source in the source system file and derive the value.

NEW QUESTION 36
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

Accounting Hub Create Accounting Duty Role

Accounting Hub Import Duty Role

Accounting Hub Integration Duty Role

Accounting Hub Create and Post Journal Entry Duty Role

NEW QUESTION 37
‘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?

Offsets and Recognition

Deferral and Recognition

Reversal and Recognition

Multiperiod and Recognition

NEW QUESTION 38
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 calculate discounts for use in the accounting rule?

Use flexfield

Use custom formulas

Use mapping set rules

Use analytical calculations

NEW QUESTION 39
What is the required date format used to import accounting transactions to Accounting Hub Cloud?

The user can customize the date format

MM-DD-YYYY

DD-MON-YYYY

YYYY-MM-DD

NEW QUESTION 40
What three are the required elements of an accounting method?

Journal entry rule sets.

Journal line rules.

Description rules.

Supporting reference.

Account rules.

NEW QUESTION 41
Which function of Smart View create multiple reports from dimension values by using same grid structure?

Zooming in and out.

Pivoting.

Drill-through.

Cascading.

NEW QUESTION 42
Your customer has decided to implement Accounting Hub to generate journal entries for one of their billing systems. They want to track the revenue amounts generated by each of the account managers.
What must they define to meet this requirement?

Supporting reference without balance using Account Manager as a source.

Supporting reference with balance using Account Manager as a source.

Description rule with Revenue Amount as a source.

Description rule with Account Managers as a source.

NEW QUESTION 43
What is the maximum length for a name of a transaction type in the Source System Transaction worksheet?

25.

40.

20.

30.

NEW QUESTION 44
Which three are mandatory transaction source information?

Transaction Number

Transaction Line

Ledger Name

Transaction Date

Distribution Link

NEW QUESTION 45
Which four components are created by the source system registration upload process in a single step?

Event Model

Transaction Objects

Journal Source

Description Rules

Account Rules

Journal Category

NEW QUESTION 46
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

Use the Open Account Balances Listing report that has balances by customer.

Use the Third Party Control Account feature.

Use Supporting References to capture customer classification information.

Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

NEW QUESTION 47
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

Specify Ledger Options

Manage Accounting Attribute Assignments

Manage Reporting Currencies

Manage Subledger Accounting Options

NEW QUESTION 48
Which tool will you use to review an account group in a graphical format from the Financial Reporting Center?

EPM

Sunburst

BI Composer

BI Catalog

NEW QUESTION 49
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?

One subledger for the 3 Loan systems and one subledger for Insurance.

One subledger for each source system.

One subledger for all 4 source systems.

One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.

NEW QUESTION 50
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?

Pay Insurance and Control Truck Services

Initiate Truck Rentals Contract and Pay Truck Maintenance

Purchase Trucks and Deploy Trucks

Purchase Trucks and Pay Out Trucks

NEW QUESTION 51
Which two can you use to view supporting reference balances?

Use the Supporting Reference Balance Inquiry page.

Submit the standard Supporting Reference Balances Report.

Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting – Supporting Reference Real Time subject area.

Use Business Intelligence Publisher to build a custom report.