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To prepare for the Oracle 1z0-1060-22 certification exam, candidates must have a strong understanding of accounting principles and concepts, as well as experience in implementing Oracle Accounting Hub Cloud. They should also have knowledge of Oracle Cloud Infrastructure and related technologies. 1z0-1060-22 exam is designed to test the candidate's ability to configure and customize the software to meet the needs of the organization, as well as their ability to troubleshoot and resolve issues.
NEW QUESTION # 31
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
- A. Conversion date and conversion rate
- B. Conversiontype and conversion date
- C. Conversion type, conversion date and conversion rate
- D. Conversion type
Answer: C
NEW QUESTION # 32
What is NOT included in the minimum required accounting attribute assignments?
- A. Distribution Type
- B. First Distribution Identifier
- C. Accounting Date
- D. Second Distribution Identifier
Answer: D
NEW QUESTION # 33
You are explaining to an accountant that account override is an adjustment feature of 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 allows users to record a reason for the adjustment.
- C. The account override feature is only intended to correct subledger journals that have been posted.
- D. The account override feature provides an audit trail by preserving the original subledger journal entry.
Answer: B,D
NEW QUESTION # 34
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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?
- A. Enable balancing rules
- B. Enable legal entity rule
- C. Enable intercompany balancing option
- D. Enable chart of accounts rule
Answer: C
NEW QUESTION # 35
Which four components are related to the Accounting Hub?
- A. Sub Ledgers
- B. Outbound Integration
- C. Accounting Transformations
- D. Financial Reporting
- E. General Ledger
Answer: A,C,D,E
NEW QUESTION # 36
What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Mapping sets
- B. Event entities
- C. Source objects
- D. Transaction objects
Answer: B
NEW QUESTION # 37
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
- A. Conversion date and conversion rate
- B. Conversion type and conversion date
- C. Conversion type
- D. Conversion type, conversion date and conversion rate
Answer: A
NEW QUESTION # 38
What is the key attribute that is used to query journal entries of a registered source system?
- A. Journal Source
- B. Accounting Date
- C. Transaction Date
- D. Ledger Name
Answer: A
NEW QUESTION # 39
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. Themajority 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 pass the calculated value for discount amounts in accounting rules to the corresponding journal line?
- A. Assign it to a transaction type.
- B. Assign it to an accounting method.
- C. Assign it to an accounting attribute.
- D. Assign it to an account rule.
Answer: C
NEW QUESTION # 40
Which two options allow validating input values on mapping sets?
- A. Value sets
- B. Chart of accounts segment
- C. Segment values
- D. Lookup types
Answer: A,D
NEW QUESTION # 41
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 Journal line?
- 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: A
NEW QUESTION # 42
In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?
- A. Use a custom formula in a supporting reference to derive amounts.
- B. Use a custom formula in a description rule to derive amounts.
- C. Use a custom formula in a journal line rule to derive amounts.
- D. Use a custom formula in an account rule to derive amounts.
Answer: C
NEW QUESTION # 43
Which statement is true about accounting transformation?
- A. It is used to build approval rules for transaction recorded in third party source system.
- B. It allows recording of transaction directly in the registration third-party source system.
- C. It is the process of converting transaction or activities from any source systems into journal entries.
- D. It is the process of converting transaction or activities into journal entries that are recorded only Oracle -owned source system.
Answer: C
NEW QUESTION # 44
Which two components are used by the Approvals Workflow in Oracle Cloud Applications?
- A. SOA Suite
- B. Calculation Manager
- C. OTBI
- D. BPM Worklist
Answer: A,D
NEW QUESTION # 45
How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. Three
- B. One
- C. Two
- D. Unlimited
Answer: B
NEW QUESTION # 46
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 # 47
Which function of Smart View create multiple reports from dimension values by using same grid structure?
- A. Zooming in and out.
- B. Drill-through.
- C. Cascading.
- D. Pivoting.
Answer: C
NEW QUESTION # 48
Which four are the components of a Ledger?
- A. Legal Entity
- B. Chart of Accounts
- C. Accounting Convention
- D. Calendar
- E. Currency
Answer: B,C,D,E
NEW QUESTION # 49
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