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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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 wil the typical transaction information be at the header level?

A) Currency
B) Customer Number
C) Amount
D) Line Type

2. 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?

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

3. While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
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 a different chart of accounts from the journal entry rule set.
C) The account rule does not return any valid account value.
D) The account rule is defined with conditions that are not allowing the assignment.

4. To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?

A) Conversion type
B) Conversion type, conversion date and conversion rate
C) Conversion date and conversion rate
D) Conversion type and conversion date

5. Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

A) Event Class
B) Journal Entry
C) Journal Line Rule
D) Event Type
E) Journal Entry Rule Set

Solutions: