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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. What is the key attribute that is used to query journal entries of a registered source system?

A) Journal Source
B) Ledger Name
C) Transaction Date
D) Accounting Date

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

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

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 Journal line?

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

4. 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) Initiate Truck Rentals Contract and Pay Truck Maintenance
C) Purchase Trucks and Pay Out Trucks
D) Purchase Trucks and Deploy Trucks

5. 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 a description rule to derive amounts.
B) Use a custom formula in a journal line rule to derive amounts.
C) Use a custom formula in an account rule to derive amounts.
D) Use a custom formula in a supporting reference to derive amounts.

Solutions: