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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

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

2. The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?

A) Change the transaction data file.
B) Add this as a new transaction typo into existing subledger registration spreadsheet template.
C) Register it as a new source system.
D) Add this as a new transaction type into existing registered subledger from the user interface.

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

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

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

5. What can you override in a completed subledger journal entry?

A) the account
B) the amounts
C) the supporting Information
D) the descriptions

Solutions: