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1Z0-1060-24 Real Exam Questions

Oracle Accounting Hub Cloud 2024 Implementation Professional

80 questions available · Page 1 of 8

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Question 1 Single choice

Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?

  1. A

    Chief Financial Officer (CFO)

  2. B

    Financial Analyst

  3. C

    General Accountant

  4. D

    General Accounting Manager

Show answer and explanation

Correct answer: D

Question 2 Single choice

To create journal entries, the Create Accounting process takes source data used in accounting rules from tables or views.

What are the tables or views called?

  1. A

    Event entities

  2. B

    Mapping sets

  3. C

    Transaction objects

  4. D

    Source objects

Show answer and explanation

Correct answer: C

Question 3 Single choice

NO: 5:

Your client is involved in the sale of health, vehicle, and home insurance services. Currently, they process their transactions in a source system. You have been appointed as a consultant to implement Accounting
Hub Cloud and standardize their accounting process. You decide to register their source system as a single application in Accounting Hub Cloud.

How many event classes will be generated by the system while registering the source system?

  1. A

    Four

  2. B

    Two

  3. C

    One

  4. D

    Three

Show answer and explanation

Correct answer: C

Question 4 Single choice

A manual subledger journal did not reverse.

What could be the reason for this?

  1. A

    The next accounting period was future-enterable

  2. B

    The Create Accrual Reversal Accounting process had run and completed with no errors

  3. C

    The next accounting period was open

  4. D

    The Reverse Accrual On field was left null

Show answer and explanation

Correct answer: D

Question 5 Multiple choice

The Insurance for Homes company provides home insurance services in the USA, the UK, France, and Italy. It is headquartered in the USA. The entities in the UK, France, and Italy are subsidiaries of the USA entity.

The company decides to configure four primary ledgers, one each for the USA, the UK, France, and Italy.
It also plans to configure three secondary ledgers under the UK, France, and Italy primary ledgers.

Which TWO statements are true about setting up secondary ledgers?

  1. A

    A chart of accounts mapping is only required if a secondary ledger has a different chart of accounts than its primary ledger

  2. B

    Conversion levels available for a secondary ledger are Balance, Journal, Adjustment only, and Subledger

  3. C

    A chart of accounts mapping is always required between the chart of accounts of the primary ledger and the secondary ledger

  4. D

    Conversion levels available for a secondary ledger are Balance, Journal, and Subledger only

Show answer and explanation

Correct answers: A, B

Question 6 Multiple choice

Which TWO privileges are recommended while enabling Audit History on several key business objects?

  1. A

    Audit Assignment Grade

  2. B

    View Audit History

  3. C

    Manage Audit Policies

  4. D

    Manage Application Objects

Show answer and explanation

Correct answers: B, C

Question 7 Single choice

In Functional Setup Manager, if setup data is segmented by a specific context, you can perform the setup task iteratively, such as assigning different ledger options to different primary ledgers.

Which action should you take to specify the context?

  1. A

    Select the value for a Functional Area.

  2. B

    Select the value for a Feature

  3. C

    Select the value for a Lookup Code

  4. D

    Select the value for a Scope

Show answer and explanation

Correct answer: D

Question 8 Multiple choice

Which three duty roles are required to perform Accounting Hub setup tasks?

  1. A

    Accounting Hub Administration

  2. B

    Subledger Accounting Manager

  3. C

    Accounting Hub Integration

  4. D

    Application Implementation Consultant

  5. E

    Accounting Hub Maintenance

Show answer and explanation

Correct answers: B, C, D

Question 9 Single choice

Your client deals in Banking, Insurance, and Stock Trading. They have separate transaction systems to process their transactions. You have been appointed as a consultant to implement Accounting Hub Cloud to streamline and standardize the accounting process for each of the source systems.

The client wants to generate the following accounting entries:

1. Banking-related transactions on a daily basis
2. Stock trading transactions on alternate days
3. Insurance transactions on a weekly basis

Considering the nature of business, frequency of generating accounting entries, and the load on the system, how many source systems would you suggest?

  1. A

    Four

  2. B

    One

  3. C

    Two

  4. D

    Three

Show answer and explanation

Correct answer: D

Question 10 Multiple choice

You have recently created an analysis to review periodic revenue amounts using Smart View. Your customer wants to use the drill-through option to get more details about the balances appearing in the analysis.

Which two drill-through options are available for use?

  1. A

    Drill to Detail Balances

  2. B

    Drill to Financial Reporting Center

  3. C

    Drill to Account Group

  4. D

    Drill to Account Inspector

Show answer and explanation

Correct answers: A, B