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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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?

A) One subledger for all 4 source systems.
B) One subledger for each source system.
C) One subledger for the 3 Loan systems and one subledger for Insurance.
D) One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.

2. 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 sourcecode 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?

A) Use flexfield
B) Use mapping set rules
C) Use analytical calculations
D) Usecustom formulas

3. A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value thatmaps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

A) Activate the accounting method.
B) Download a new transaction data template.
C) There is no required action. The mapping addition is complete.
D) Activate the journal entry rule set.

4. 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) You do not need to do anything additional.
C) Assign an accounting attribute.
D) Assign a custom formula.

5. There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on theentered amounts for the line.
What is the solution to implement this requirement?

A) define line description rule with condition
B) define journal line rules with conditions
C) define user transaction lineidentifier
D) define journal entry rule set with condition

Solutions: