Mar-2023 1z0-1060-22 Study Material, Preparation Guide and PDF Download
Free 1z0-1060-22 Certification Sample Questions with Online Practice Test
Oracle 1z0-1060-22 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
NEW QUESTION 15
What three are the required elements of an accounting method?
- A. Journal line rules.
- B. Supporting reference.
- C. Description rules.
- D. Account rules.
- E. Journal entry rule sets.
Answer: A,D,E
NEW QUESTION 16
Which two actions can you accomplish for a registered source system?
- A. Add new event classes through the user interface.
- B. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
- C. Revise source Information through the user interface and add more sources.
- D. Modify the subledger application name as long as there are no pending accounting entries.
Answer: B,C
NEW QUESTION 17
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. Group by GL Date
- B. Summarize by GL Date
- C. Transfer in Details
- D. Summarize by GL Period
Answer: A
NEW QUESTION 18
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. Source System Identifier
- C. User Transaction Identifier
- D. Attribute Identifier
Answer: D
NEW QUESTION 19
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.
How do you calculate discounts for use in the accounting rule?
- A. Use custom formulas
- B. Use analytical calculations
- C. Use flexfield
- D. Use mapping set rules
Answer: A
NEW QUESTION 20
What attribute of a subledger journal entry is NOT transferred to GL?
- A. Accounting lines
- B. Accounted amounts
- C. Accounting class
- D. Supporting references
Answer: D
NEW QUESTION 21
Which two statements are true about the Accounting Hub Cloud?
- A. It does not allow publishing output files to PeopleSoft General Ledgers
- B. It has a robust Accounting Engine which allows you to configure accounting rules
- C. Integration of information into the Accounting Hub Cloud is restricted to a maximum of three source systems
- D. It brings together disparate accounting systems into a centrally-accessible source of truth
Answer: B,D
NEW QUESTION 22
Which role provides full access to perform all Functional Setup Manager-related activities?
- A. Application Implementation Manager
- B. Accounting Hub Integration
- C. IT Security Manager
- D. Application Implementation Consultant
Answer: D
NEW QUESTION 23
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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?
- A. Enable legal entity rule
- B. Enable chart of accounts rule
- C. Enable balancing rules
- D. Enable intercompany balancing option
Answer: D
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.
How do you pass the calculated value for discount amounts in accounting rules to the corresponding journal line?
- A. Assign it to an account rule.
- B. Assign it to a transaction type.
- C. Assign it to an accounting method.
- D. Assign it to an accounting attribute.
Answer: A
NEW QUESTION 25
'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" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
- B. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
- C. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)
- D. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
Answer: B
NEW QUESTION 26
Which four options are used to reconcile subledger journal entries?
- A. Build a custom OTBI report.
- B. Run the Subledger Accounting Diagnostics report.
- C. Assign a descriptive text and source on journal lines.
- D. Tag supporting references with journal entry lines.
- E. Set up reconciliation using the reconciliation reference accounting attribute.
- F. Run the Subledger Accounting Method Setups report.
Answer: A,C,D,E
NEW QUESTION 27
Based on a unique combination of which two components is a new standard Balance cube automatically created for a primary or secondary ledger?
- A. Calendar and currency.
- B. Chart of account and convention.
- C. Chart of account and currency.
- D. Chart of account and calendar.
Answer: D
NEW QUESTION 28
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 the 3 Loan systems and one subledger for Insurance.
- B. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- C. One subledger for all 4 source systems.
- D. One subledger for each source system.
Answer: A,D
NEW QUESTION 29
How many transaction eventclasses can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. One
- B. Three
- C. Unlimited
- D. Two
Answer: B
NEW QUESTION 30
Which four components are created by the source system registration upload process in a single step?
- A. Event Model
- B. Journal Category
- C. Description Rules
- D. Journal Source
- E. Transaction Objects
- F. Account Rules
Answer: A,B,D,E
NEW QUESTION 31
Which statement is true about managing data access for users?
- A. Data assignments can be made only to users who are assigned to specific job roles
- B. Data assignments can be made to all users without a role assignment
- C. Data assignments can be made only to users who are assigned to specific abstract roles
- D. Data assignments can be made only to users who are assigned to specific duty roles
Answer: A
NEW QUESTION 32
Which is used to track a specific transaction attribute on subledger journal entries?
- A. account rules
- B. value set rules
- C. supporting references
- D. lookup value rules
Answer: C
NEW QUESTION 33
Which tool will you use to review an account group in a graphical format from the Financial Reporting Center?
- A. Sunburst
- B. BI Catalog
- C. EPM
- D. BI Composer
Answer: B
NEW QUESTION 34
What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Source objects
- B. Mapping sets
- C. Transaction objects
- D. Event entities
Answer: C
NEW QUESTION 35
Which two components are used by the Approvals Workflow in Oracle Cloud Applications?
- A. SOA Suite
- B. BPM Worklist
- C. OTBI
- D. Calculation Manager
Answer: A,B
NEW QUESTION 36
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
- A. Conversion date and conversion rate
- B. Conversion type
- C. Conversiontype and conversion date
- D. Conversion type, conversion date and conversion rate
Answer: D
NEW QUESTION 37
......
1z0-1060-22 Certification Study Guide Pass 1z0-1060-22 Fast: https://www.prepawaypdf.com/Oracle/1z0-1060-22-practice-exam-dumps.html
1z0-1060-22 Dumps PDF 2023 Program Your Preparation EXAM SUCCESS: https://drive.google.com/open?id=1WJE5Do5XFwlcuhUsJT6-n22vNQMmHxQF