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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. You need to build a complex account rule. Which four value types you use in yourdefinition?

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

2. How do you enable diagnostics on subledger transaction sources?

A) enable transaction debug
B) enable diagnostic profile
C) enable diagnostic source
D) enable diagnostic attribute

3. 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) Amount
B) Line Type
C) Currency
D) Customer Number

4. '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.
Insurance premium Is to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

A) Offsets and Recognition
B) Deferral and Recognition
C) Reversal and Recognition
D) Multiperiod and Recognition

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

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

Solutions: