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1Z0-1060-22 Real Exam Questions

Oracle Accounting Hub Cloud 2022 Implementation Professional

60 questions available · Page 1 of 6

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Question 1 Single choice

What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

  1. A

    Accounting Hub Create Accounting Duty Role

  2. B

    Accounting Hub Import Duty Role

  3. C

    Accounting Hub Integration Duty Role

  4. D

    Accounting Hub Create and Post Journal Entry Duty Role

Show answer and explanation

Correct answer: C

Question 2 Single choice

'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?

  1. A

    Offsets and Recognition

  2. B

    Deferral and Recognition

  3. C

    Reversal and Recognition

  4. D

    Multiperiod and Recognition

Show answer and explanation

Correct answer: B

Question 3 Multiple choice

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 accounting rules to be shared?

  1. A

    One subledger for the 3 Loan systems and one subledger for Insurance.

  2. B

    One subledger for each source system.

  3. C

    One subledger for all 4 source systems.

  4. D

    One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.

Show answer and explanation

Correct answers: A, C

Question 4 Single choice

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?

  1. A

    Use the Open Account Balances Listing report that has balances by customer.

  2. B

    Use the Third Party Control Account feature.

  3. C

    Use Supporting References to capture customer classification information.

  4. D

    Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

Show answer and explanation

Correct answer: C

Question 5 Single choice

What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?

  1. A

    Use Oracle ERP Integration tool.

  2. B

    Use PaaS tools, for example, ICS - to perform ETL tasks.

  3. C

    Use Oracle OTBI tool.

  4. D

    Use a web service tool.

Show answer and explanation

Correct answer: B

Question 6 Single choice

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?

  1. A

    Create a 30 account combination rule with a condition of expense type.

  2. B

    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.

  3. C

    Create two journal line rules with a condition of supplier type.

  4. D

    Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.

Show answer and explanation

Correct answer: B

Question 7 Multiple choice

Which two actions can you accomplish for a registered source system?

  1. A

    Add new event classes through the user interface.

  2. B

    Modify the subledger application name as long as there are no pending accounting entries.

  3. C

    Import the source system registration spreadsheet template multiple times as long as there are no
    accounting rules created yet.

  4. D

    Revise source Information through the user interface and add more sources.

Show answer and explanation

Correct answers: C, D

Question 8 Single choice

'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.

  1. A

    "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/
    (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)

  2. B

    "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")

  3. C

    "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective
    Date") + 1)

  4. D

    "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") /
    NumberofGLPeriod ("Effective Date", 'Expiry Date")

Show answer and explanation

Correct answer: D

Question 9 Single choice

How do you enable diagnostics on subledger transaction sources?

  1. A

    enable diagnostic profile

  2. B

    enable diagnostic attribute

  3. C

    enable diagnostic source

  4. D

    enable transaction debug

Show answer and explanation

Correct answer: A

Question 10 Single choice

There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on the entered amounts for the line.

What is the solution to implement this requirement?

  1. A

    define line description rule with condition

  2. B

    define journal line rules with conditions

  3. C

    define journal entry rule set with condition

  4. D

    define user transaction line identifier

Show answer and explanation

Correct answer: A