Oracle 1Z0-1060-24 Online Practice Questions and Exam Preparation

Oracle 1Z0-1060-24 Online Questions & Answers

• Question 61:

  You recently created an analysis to review the 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 would meet the requirement?

  A. Drill to Account Group
  B. Drill to Detail Balances
  C. Drill to Financial Reporting Center
  D. Drill to Account Inspector
  B. Drill to Detail Balances
  D. Drill to Account Inspector

• Question 62:

  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?

  A. A chart of accounts mapping is only required if a secondary ledger has a different chart of accounts than its primary ledger
  B. Conversion levels available for a secondary ledger are Balance, Journal, Adjustment only, and Subledger
  C. A chart of accounts mapping is always required between the chart of accounts of the primary ledger and the secondary ledger
  D. Conversion levels available for a secondary ledger are Balance, Journal, and Subledger only
  A. A chart of accounts mapping is only required if a secondary ledger has a different chart of accounts than its primary ledger
  B. Conversion levels available for a secondary ledger are Balance, Journal, Adjustment only, and Subledger

• Question 63:

  Which duty role is required to authorize access to the import accounting transactions process?

  A. Accounting Hub Import duty role
  B. Accounting Hub Integration duty role
  C. Accounting Hub Create and Post Journal Entry duty role
  D. Accounting Hub Create Accounting duty role
  B. Accounting Hub Integration duty role

• Question 64:

  Your client is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep, in their source system. They want to retrieve the value of the Natural Account segment directly from the source system and are seeking your advice on this requirement.

  Which TWO should you factor into your advice on how to register the source system using the spreadsheet template to meet your client requirement?

  A. Chart of Accounts Value column should be updated with a value of "Yes"
  B. Natural Account should be defined as a "Number" type source
  C. Natural Account should be defined as a "Text" type source
  D. Natural Account should be defined as a "Long Text" type source
  A. Chart of Accounts Value column should be updated with a value of "Yes"
  C. Natural Account should be defined as a "Text" type source

• Question 65:

  Your client has a requirement to report directly from transactional tables and return the results in real-time, thus eliminating the need for a data warehouse. Which tool would you suggest to your client to achieve this?

  A. Oracle Transactional Business Intelligence
  B. Account Group
  C. Smart View
  D. Financial Reporting Studio
  A. Oracle Transactional Business Intelligence

• Question 66:

  Your customer needs to generate journal entries for the insurance premium collected from the sale of policies. The different components of the premium collected by the company include Basic Premium and Tax. You decide to set up three separate journal line rules to account for Basic Premium, Tax Amount, and Total Amount.

  Which attribute in a journal line rule allows you to classify these three journal entry lines?

  A. Accounting Class
  B. Business Flow Class
  C. Event Class
  D. Rounding Class
  C. Event Class

• Question 67:

  Challenge 4: Manage Description Rule

  TASK

  Create Description Rule Subledger Application: AHC Billing Process Category: AHC Billing Event Class: AHC Billing Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

  A. See the Explanation below for all the solution.
  B. PlaceHolder
  C. PlaceHolder
  D. PlaceHolder
  A. See the Explanation below for all the solution.

  ---

  Explanation

  Task: Create Description Rule

  Navigate to Manage Description Rules Go to: Setup and Maintenance → Task: Manage Description Rules → Create

  Rule Header Name: AHC Billing Description Application: AHC Billing Chart of Accounts: (select appropriate COA) Description: optional Event Class: AHC Billing Event Types: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

  Rule Details Click “Add” to define description components Use sources such as:

  -Transaction Number

  -Customer Name

  -Event Type

  -Invoice Number

  Example Format:

  "AHC Billing - [Event Type] - [Transaction Number] - [Customer Name]"

  Use concatenation or fixed text with sources as needed

  Save and Close

  Deploy if required and validate descriptions on accounting entries

• Question 68:

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

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

• Question 69:

  Your client has implemented the Accounting Hub Cloud solution. They import their transaction data from the source system on a daily basis, and while doing so, some transactions are not being accounted properly. They want these invalid transactions purged and the correct transactions re-imported.

  Which job would you submit to purge the invalid transactions?

  A. Set Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions
  B. Import Accounting Transactions Job with Purge Invalid Transaction parameter set to "Yes"
  C. Purge Invalid and Unaccounted Accounting Hub Transactions Job
  D. Purge Accounting Hub Transactions Job
  A. Set Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions

• Question 70:

  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?

  A. Select the value for a Functional Area.
  B. Select the value for a Feature
  C. Select the value for a Lookup Code
  D. Select the value for a Scope
  D. Select the value for a Scope