[Mar-2022] 1Z0-1060-21 Exam Questions and Valid 1Z0-1060-21 Dumps PDF
1Z0-1060-21 Brain Dump: A Study Guide with Tips & Tricks for passing Exam
NEW QUESTION 24
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. Transaction objects
- C. Event entities
- D. Source objects
Answer: B
NEW QUESTION 25
You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.
Which two traits can help you explain this feature?
- A. The account override feature allows users to record a reason for the adjustment.
- B. The account override feature is only intended to correct subledger journals that have been posted.
- C. The account override feature provides an audit trail by preserving the original subledger journal entry.
- D. The account override feature adjusts the original source transaction.
Answer: A,C
NEW QUESTION 26
What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?
- A. Oracle Virtual Web Center Services
- B. Oracle Web Center Content Client Command line tool
- C. ERP Integration Service
- D. Oracle UCM Web Services
Answer: A
NEW QUESTION 27
What is NOT included in the minimum required accountingattribute assignments?
- A. Accounting Date
- B. Distribution Type
- C. First Distribution Identifier
- D. Second Distribution Identifier
Answer: D
NEW QUESTION 28
What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?
- A. Journal Entry Sequence
- B. Document Sequence
- C. Reporting Sequence
- D. Accounting Sequence
Answer: D
NEW QUESTION 29
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 the 3 Loan systems and one subledger for Insurance.
- B. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- C. One subledger for all 4 source systems.
- D. One subledger for each source system.
Answer: A,C
NEW QUESTION 30
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. Customer Number
- B. Currency
- C. LineType
- D. Amount
Answer: A
NEW QUESTION 31
Which three duty roles are required to perform Accounting Hub setup tasks?
- A. Application Implementation Consultant
- B. Accounting Hub Maintenance
- C. Subledger Accounting Manager
- D. Accounting Hub Integration
- E. Accounting Hub Administration
Answer: A,D,E
NEW QUESTION 32
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 thirdparties 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 legal entity rule
- B. Enable chart of accounts rule
- C. Enable balancing rules
- D. Enable intercompany balancing option
Answer: D
NEW QUESTION 33
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 an accounting attribute.
- B. Assign a custom formula.
- C. Assign a line classification or line type attribute.
- D. You do not need to do anything additional.
Answer: C
NEW QUESTION 34
Invoices received from a source system need touse a specific account based on 30 different expense types.
However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?
- A. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
- B. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.
- C. Create a 30 account combination rule with acondition of expense type.
- D. Create two journal line rules with a condition of supplier type.
Answer: B
NEW QUESTION 35
What can you override in a completed subledger journal entry?
- A. the amounts
- B. the supporting Information
- C. the descriptions
- D. the account
Answer: D
NEW QUESTION 36
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 Type
- B. Event Class
- C. Journal Entry
- D. Journal Line Rule
- E. Journal Entry Rule Set
Answer: D
NEW QUESTION 37
Which is an alternate way to implement a mappingset rule?
- A. Define an account rule with conditions.
- B. Define a flexfield rule with conditions.
- C. Define a chart of account rule with conditions.
- D. Define a lookup type rule with conditions.
Answer: A
NEW QUESTION 38
You need to build a complex account rule. Which four value typescanyou use in yourdefinition?
- A. Existing Account Rule
- B. Account Combination
- C. Source
- D. Constant
- E. Value Set
- F. Mapping Set
Answer: A,C,D,F
NEW QUESTION 39
Which three are mandatory transaction source information?
- A. Ledger Name
- B. Transaction Number
- C. Transaction Line
- D. Distribution Link
- E. Transaction Date
Answer: A,B,E
NEW QUESTION 40
Which four options are used to reconcile subledger journal entries?
- A. Assign a descriptive text and source on journal lines.
- B. Build a custom OTBIreport.
- C. Set up reconciliation using the reconciliation reference accounting attribute.
- D. Run the Subledger Accounting Diagnostics report.
- E. Run the Subledger Accounting Method Setups report.
- F. Tag supporting references with journal entry lines.
Answer: A,B,C,F
NEW QUESTION 41
What are all the tabs that areavailable to be completed in the Register Source System spreadsheet?
- A. Source System and Line Information
- B. Source System, Transaction Information, and Line Information
- C. Source System
- D. Source System and Transaction Information
Answer: B
NEW QUESTION 42
Which two options allow validating input values on mapping sets?
- A. Value sets
- B. Lookup types
- C. Chart of accounts segment
- D. Segment values
Answer: A,B
NEW QUESTION 43
Given the subledger journal entry:
Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?
- A. It is notbalanced by balancing segment.
- B. It is not balanced by entered amounts.
- C. It appears correct.
- D. It is not balanced by entered currency.
Answer: A
NEW QUESTION 44
What is a user job role data context assignment?
- A. Security data access context assignment to a user job role
- B. Security data role context assignment to auser job role
- C. Duty role context assignment to a user
- D. Security privileges assignment to a user job role
Answer: A
NEW QUESTION 45
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 journal line rules with conditions
- B. define journal entry rule set with condition
- C. define user transaction lineidentifier
- D. define line description rule with condition
Answer: D
NEW QUESTION 46
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