oracle 1z0-1060-20 practice test

Oracle Accounting Hub Cloud 2020 Implementation Essentials


Question 1

What can you override in a completed subledger journal entry?

  • A. the amounts
  • B. the descriptions
  • C. the account
  • D. the supporting Information
Answer:

A

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Question 2

What is the terminology that is used to refer to the number of transactions processed by Create Accounting in one commit
cycle?

  • A. Virtual Machine Processing Size
  • B. Accounting Unit Commit Size
  • C. Buffer Unit Size
  • D. Processing Unit Size
Answer:

D

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Question 3

What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final
mode?

  • A. Reporting Sequence
  • B. Accounting Sequence
  • C. Journal Entry Sequence
  • D. Document Sequence
Answer:

B

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Question 4

'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. How do you link the
two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process
to create recurring Journal entries?

  • A. Recognition Journal class
  • B. Recurring Journal class
  • C. Accounting class
  • D. Multiperiod class
Answer:

D

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Question 5

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?

  • A. Use flexfield
  • B. Use custom formulas
  • C. Use mapping set rules
  • D. Use analytical calculations
Answer:

C

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Question 6

Which two can you use to view supporting reference balances?

  • A. Use the Supporting Reference Balance Inquiry page.
  • B. Submit the standard Supporting Reference Balances Report.
  • C. Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.
  • D. Use Business Intelligence Publisher to build a custom report.
Answer:

C D

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Question 7

What are all the tabs that are available to be completed in the Register Source System spreadsheet?

  • A. Source System and Line Information
  • B. Source System and Transaction Information
  • C. Source System
  • D. Source System, Transaction Information, and Line Information
Answer:

C

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Question 8

You need to build a complex account rule. Which four value types can you use in your definition?

  • A. Value Set
  • B. Constant
  • C. Existing Account Rule
  • D. Account Combination
  • E. Mapping Set
  • F. Source
Answer:

A B C F

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Question 9

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?

  • A. One subledger for the 3 Loan systems and one subledger for Insurance.
  • B. One subledger for each source system.
  • C. One subledger for all 4 source systems.
  • D. One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
Answer:

A B

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Question 10

Which transaction source is used to link transaction header and line information?

  • A. Transaction Key
  • B. Transaction Type
  • C. Transaction Date
  • D. Transaction Number
Answer:

C

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