Pass Guaranteed Quiz 2024 Realistic Verified Free 1z0-1060-22 Exam Dumps
Free Oracle Financials Cloud 1z0-1060-22 Ultimate Study Guide (Updated 89 Questions)
Oracle 1z0-1060-22 Certification Exam is a valuable certification for professionals who work with Oracle Accounting Hub Cloud 2022. By passing the exam, individuals can demonstrate their expertise in implementation and increase their job opportunities. With the right preparation and resources, professionals can successfully pass the exam and become certified in Oracle Accounting Hub Cloud 2022 implementation.
Oracle 1z0-1060-22 exam covers a wide range of topics related to Oracle Accounting Hub Cloud 2022 Implementation. 1z0-1060-22 exam tests candidates on their knowledge of the product's features and functionalities, including its configuration and setup, data integration, accounting rules, and financial reporting. 1z0-1060-22 exam also tests candidates on their ability to troubleshoot issues related to the product and its implementation.
NEW QUESTION # 20
Which is used to track a specific transaction attribute on subledger journal entries?
- A. account rules
- B. supporting references
- C. lookup value rules
- D. value set rules
Answer: B
NEW QUESTION # 21
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 calendar.
- C. Chart of account and currency.
- D. Chart of account and convention.
Answer: B
NEW QUESTION # 22
How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. One
- B. Three
- C. Unlimited
- D. Two
Answer: A
NEW QUESTION # 23
'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. Multiperiod and Recognition
- B. Offsets and Recognition
- C. Deferral and Recognition
- D. Reversal and Recognition
Answer: C
NEW QUESTION # 24
Which two components are used by the Approvals Workflow in Oracle Cloud Applications?
- A. Calculation Manager
- B. OTBI
- C. SOA Suite
- D. BPM Worklist
Answer: C,D
NEW QUESTION # 25
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 only to users who are assigned to specific abstract roles
- C. Data assignments can be made to all users without a role assignment
- D. Data assignments can be made only to users who are assigned to specific duty roles
Answer: A
NEW QUESTION # 26
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. Transaction objects
- C. Source objects
- D. Event entities
Answer: D
NEW QUESTION # 27
After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?
- A. an Oracle Transactional Business Intelligence analysis
- B. a predefined Oracle Business Intelligence Publisher report
- C. an Oracle Financial Reporting Studio report
- D. a Smart View Report
Answer: A
NEW QUESTION # 28
Which three are mandatory transaction source information?
- A. Ledger Name
- B. Transaction Date
- C. Transaction Line
- D. Distribution Link
- E. Transaction Number
Answer: A,B,C
NEW QUESTION # 29
How do you enable diagnostics on subledger transaction sources?
- A. enable diagnostic attribute
- B. enable transaction debug
- C. enable diagnostic profile
- D. enable diagnostic source
Answer: C
NEW QUESTION # 30
Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?
- A. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.
- B. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
- C. Create two journal line rules with a condition of supplier type.
- D. Create a 30 account combination rule with a condition of expense type.
Answer: A
NEW QUESTION # 31
In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?
- A. Use a custom formula in an account rule to derive amounts.
- B. Use a custom formula in a journal line rule to derive amounts.
- C. Use a custom formula in a description rule to derive amounts.
- D. Use a custom formula in a supporting reference to derive amounts.
Answer: B
NEW QUESTION # 32
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 would the typical line information be?
- A. Customer Number
- B. Company
- C. Truck Type
- D. Transaction Date
Answer: C
NEW QUESTION # 33
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. MM-DD-YYYY
- B. DD-MON-YYYY
- C. YYYY-MM-DD
- D. The user can customize the date format
Answer: C
NEW QUESTION # 34
What is NOT included in the minimum required accounting attribute assignments?
- A. Accounting Date
- B. Second Distribution Identifier
- C. First Distribution Identifier
- D. Distribution Type
Answer: B
NEW QUESTION # 35
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?
- A. Use the Third Party Control Account feature.
- B. Use Supporting References to capture customer classification information.
- C. Use the Open Account Balances Listing report that has balances by customer.
- D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
Answer: B
NEW QUESTION # 36
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 defined with a different chart of accounts from the journal entry rule set.
- B. 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.
- 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 # 37
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 the 3 Loan systems and one subledger for Insurance.
- C. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- D. One subledger for each source system.
Answer: B,D
NEW QUESTION # 38
'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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. Multiperiod and Recognition
- D. Reversal and Recognition
Answer: C
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. Assign a custom formula.
- B. You do not need to do anything additional.
- C. Assign an accounting attribute.
- D. Assign a line classification or line type attribute.
Answer: D
NEW QUESTION # 40
A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?
- A. Request support team to download subledger Journal entry data.
- B. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
- C. Run predefined reports and filter the report with the available report parameters.
- D. Build a new data warehouse solution.
Answer: B
NEW QUESTION # 41
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. Mapping sets
- B. Event entities
- C. Transaction objects
- D. Source objects
Answer: C
NEW QUESTION # 42
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 accounting attribute.
- B. Assign it to an accounting method.
- C. Assign it to an account rule.
- D. Assign it to a transaction type.
Answer: C
NEW QUESTION # 43
Given the journal:
What is the terminology that is used to identify the "Account Number', 'Original Balance' ,and 'Origination Date' fields?
- A. User Transaction Identifier
- B. System Identifier
- C. Attribute Identifier
- D. Source System Identifier
Answer: A
NEW QUESTION # 44
You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?
- A. The rule is built using a line level source.
- B. The rule is built using a value set source.
- C. The source does not return any value; therefore the rule is not displayed.
- D. The rule is built using a custom source.
Answer: A
NEW QUESTION # 45
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