Oracle 1Z0-1060-21 : Oracle Accounting Hub Cloud 2021 Implementation Essentials

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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) Transaction objects
B) Event entities
C) Mapping sets
D) Source objects

2. 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 all 4 source systems.
B) One subledger for each source system.
C) One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
D) One subledger for the 3 Loan systems and one subledger for Insurance.

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

4. Which three are mandatory transaction source information?

A) Ledger Name
B) Distribution Link
C) Transaction Number
D) Transaction Date
E) Transaction Line

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 thatmaps 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) Activate the journal entry rule set.
C) Activate the accounting method.
D) There is no required action. The mapping addition is complete.

Solutions: