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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. '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.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.

A) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
B) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
C) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
D) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)

2. In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in an account rule to derive amounts.
B) Use a custom formula in a journal line rule to derive amounts.
C) Use a custom formula in a supporting reference to derive amounts.
D) Use a custom formula in a description rule to derive amounts.

3. While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?

A) The account rule is defined with conditions that are not allowing the assignment.
B) The account rule does not return any valid account value.
C) The account rule is defined with a different chart of accounts from the journal entry rule set.
D) The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.

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

A) Processing Unit Size
B) Buffer Unit Size
C) Accounting Unit Commit Size
D) Virtual Machine Processing Size

5. A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value that maps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

A) Download a new transaction data template.
B) There is no required action. The mapping addition is complete.
C) Activate the accounting method.
D) Activate the journal entry rule set.

Solutions: