1z0-1060-22 Exam Questions Get Updated [2024] with Correct Answers
Practice 1z0-1060-22 Questions With Certification guide Q&A from Training Expert TestPassKing
NEW QUESTION # 21
Which two actions can you accomplish for a registered source system?
- A. Add new event classes through the user interface.
- B. Revise source Information through the user interface and add more sources.
- C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
- D. Modify the subledger application name as long as there are no pending accounting entries.
Answer: B,C
NEW QUESTION # 22
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. Customer Number
- B. TransactionDate
- C. Company
- D. Truck Type
Answer: A
NEW QUESTION # 23
What is the key attribute that is used to query journal entries of a registered source system?
- A. Journal Source
- B. Accounting Date
- C. Ledger Name
- D. Transaction Date
Answer: A
NEW QUESTION # 24
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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?
- A. One primary, one secondary ledger
- B. One primary, one repotting currency ledger
- C. Two primary ledgers
- D. One primary ledger
Answer: D
NEW QUESTION # 25
Which two options allow validating input values on mapping sets?
- A. Value sets
- B. Segment values
- C. Chart of accounts segment
- D. Lookup types
Answer: A,D
NEW QUESTION # 26
Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?
- A. Manage Subledger Accounting Options
- B. Manage Reporting Currencies
- C. Manage Accounting Attribute Assignments
- D. Specify Ledger Options
Answer: C
NEW QUESTION # 27
Which two statements are true about the Accounting Hub Cloud?
- A. It does not allow publishing output files to PeopleSoft General Ledgers
- B. It brings together disparate accounting systems into a centrally-accessible source of truth
- C. Integration of information into the Accounting Hub Cloud is restricted to a maximum of three source systems
- D. It has a robust Accounting Engine which allows you to configure accounting rules
Answer: B,D
NEW QUESTION # 28
Which two components are used as part of the accounting event model?
- A. Event Category.
- B. Event Class.
- C. Event Type.
- D. Event Object.
Answer: B,C
NEW QUESTION # 29
Which four components are related to the Accounting Hub?
- A. Outbound Integration
- B. Sub Ledgers
- C. Accounting Transformations
- D. Financial Reporting
- E. General Ledger
Answer: B,C,D,E
NEW QUESTION # 30
What three are the required elements of an accounting method?
- A. Supporting reference.
- B. Account rules.
- C. Journal entry rule sets.
- D. Journal line rules.
- E. Description rules.
Answer: B,C,D
NEW QUESTION # 31
You need to build a complex account rule. Which four value types can you use in your definition?
- A. Constant
- B. Account Combination
- C. Source
- D. Mapping Set
- E. Existing Account Rule
- F. Value Set
Answer: A,C,D,E
NEW QUESTION # 32
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
- B. provide real-time visibility to financial reports inFAH Reporting Cloud Service
- C. transfer Balances to FAH Reporting Cloud Service
- D. upload transaction data into FAH Reporting Cloud Service
Answer: D
NEW QUESTION # 33
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
- A. Conversion type
- B. Conversion date and conversion rate
- C. Conversion type, conversion date and conversion rate
- D. Conversiontype and conversion date
Answer: C
NEW QUESTION # 34
Which tool enables developers to produce real-time information by creating analyses and reports by suing graphs, charts, and tables?
- A. BI Answers.
- B. BI Publisher.
- C. BI Composer.
- D. Financial Reporting Studio.
Answer: A
NEW QUESTION # 35
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?
- A. Summarize by GL Date
- B. Summarize by GL Period
- C. Transfer in Details
- D. Group by GL Date
Answer: D
NEW QUESTION # 36
What is "Opt-In," in the context of the Functional Setup Manager?
- A. It is a step where you can select the offerings, functional areas, and features that best fit your business requirements
- B. It is a step where you will identify the offerings that you want to implement
- C. It is a step where you enter the setup data necessary for your enabled offerings and functional areas
- D. It is a step where you move verified data into the production environment
Answer: C
NEW QUESTION # 37
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?
- A. Reporting Sequence
- B. Accounting Sequence
- C. Journal Entry Sequence
- D. Document Sequence
Answer: B
NEW QUESTION # 38
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 using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
- B. The account rule is defined with a different chart of accounts from the journal entry rule set.
- C. The account rule does not return any valid account value.
- D. The account rule is defined with conditions that are not allowing the assignment.
Answer: A,B
NEW QUESTION # 39
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 Journal line?
- A. You do not need to do anything additional.
- B. Assign a line classification or line type attribute.
- C. Assign a custom formula.
- D. Assign an accounting attribute.
Answer: B
NEW QUESTION # 40
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. Mapping sets
- B. Source objects
- C. Event entities
- D. Transaction objects
Answer: C
NEW QUESTION # 41
Given the business requirement in the 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 are the key transaction types mentioned in the use case?
- A. Pay Insurance and Control Truck Services
- B. Purchase Trucks and Deploy Trucks
- C. Initiate Truck Rentals Contract and Pay Truck Maintenance
- D. Purchase Trucks and Pay Out Trucks
Answer: C
NEW QUESTION # 42
Given the journal:
What is the terminology that is used to identify the "Account Number', 'Original Balance' , and 'Origination Date' fields?
- A. System Identifier
- B. User Transaction Identifier
- C. Attribute Identifier
- D. Source System Identifier
Answer: C
NEW QUESTION # 43
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Oracle 1z0-1060-22 exam consists of 60 multiple-choice questions that must be completed within 105 minutes. Candidates must achieve a minimum score of 70% to pass the exam and earn their Oracle Accounting Hub Cloud 2022 Implementation Professional certification. 1z0-1060-22 exam covers a variety of topics, including the configuration of accounting rules, the integration of external systems, and the management of accounting data. Candidates must also be familiar with Oracle Accounting Hub Cloud security features and have experience with implementing accounting solutions in the cloud.
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