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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. What is the key attribute that is used to query journalentries of a registered source system?

A) Accounting Date
B) Transaction Date
C) Journal Source
D) Ledger Name

2. 'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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?

A) Deferral and Recognition
B) Reversal and Recognition
C) Multiperiod and Recognition
D) Offsets and Recognition

3. Given the business use case:
'New Trucks' runs a fleetof 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 andrecognized 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 tobe able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What would the typical line information be?

A) Customer Number
B) Company
C) TransactionDate
D) Truck Type

4. 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) Run the Accounting Events DiagnosticReport.
B) Set the "SLA: Diagnostics Enabled" profile option.
C) Submit the Accounting Event Diagnostics process.
D) Run Create Accounting again to generate journal entries for the events that ended in error.

5. Which is an alternate way to implement a mappingset rule?

A) Define an account rule with conditions.
B) Define a chart of account rule with conditions.
C) Define a lookup type rule with conditions.
D) Define a flexfield rule with conditions.

Solutions: