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Oracle 1Z0-1060-21 Exam Overview:

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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

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

A) Transaction Key
B) Transaction Type
C) Transaction Date
D) Transaction Number

2. 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) You do not need to do anything additional.
B) Assign a line classification or line type attribute.
C) Assign an accounting attribute.
D) Assign a custom formula.

3. You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?

A) The rule is built using a line level source.
B) The rule is built using a value set source.
C) The source does not return any value; therefore the rule is not displayed.
D) The rule is built using a custom source.

4. 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 intercompany balancing option
B) Enable balancing rules
C) Enable legal entity rule
D) Enable chart of accounts rule

5. 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 Business Intelligence Publisher to build a custom report.
D) Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.

Solutions: