Oracle Oracle Financials Cloud 1Z0-1060-21

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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. Which two actions can you accomplish for a registered source system?

A) Modify the subledger application name as long as thereare no pending accounting entries.
B) Add new event classes through the user interface.
C) Revise source Information through the user interface and add more sources.
D) Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.

2. 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 an accounting method.
B) Assign it to an accounting attribute.
C) Assign it to an account rule.
D) Assign it to a transaction type.

3. You need to build a complex account rule. Which four value typescanyou use in yourdefinition?

A) Value Set
B) Constant
C) Existing Account Rule
D) Source
E) Account Combination
F) Mapping Set

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

5. Which is used to track a specific transaction attribute on subledger journal entries?

A) supporting references
B) lookup value rules
C) value set rules
D) account rules

Solutions: