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

Oracle 1Z0-1060-24 Online Questions & Answers

• Question 71:

  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. Your customer wants to know the changes that are allowed after registering a source system.

  Which THREE actions can be performed after registering a source system?

  A. Modify the subledger application name as long as there are no pending accounting entries
  B. Assign and update value set and lookup type assignments to sources
  C. Revise source names and add more sources through the user interface
  D. Assign a named segment from the chart of accounts to the sources that correspond to the accounting flexfield identifiers
  E. Add new event classes through the user interface
  B. Assign and update value set and lookup type assignments to sources
  C. Revise source names and add more sources through the user interface
  E. Add new event classes through the user interface

• Question 72:

  A manual subledger journal did not reverse. What could be the reason for this?

  A. The next accounting period was future-enterable
  B. The Create Accrual Reversal Accounting process had run and completed with no errors
  C. The next accounting period was open
  D. The Reverse Accrual On field was left null
  D. The Reverse Accrual On field was left null

• Question 73:

  Your client, a banking organization, has operations in the USA, the UK, France, Japan, and Singapore. As an implementation consultant, you ask the project team to maintain a global chart of accounts. However, the management team in the UK does not agree to allow the generation of dynamic code combinations for the chart of accounts values.

  What solution would you propose to address this scenario?

  A. Define one chart of accounts structure and enable dynamic inserts for the USA, France, Japan, and Singapore at the ledger options level, but disable it for the UK ledger
  B. Define two charts of accounts structures. Enable dynamic inserts for the first structure and disable it for the second one. Assign the first structure to the USA, France, Japan, and Singapore ledgers and the second structure to the UK ledger.
  C. Define one chart of accounts structure and disable dynamic inserts for the UK ledger by using the "Allow Dynamic Inserts" profile option
  D. Define two chart of accounts structure instances. Enable dynamic inserts for the first structure instance and disable it for the second one. Assign the first chart of accounts structure instance to the USA, France, Japan, and Singapore ledgers and the second chart of accounts structure instance to the UK ledger.
  C. Define one chart of accounts structure and disable dynamic inserts for the UK ledger by using the "Allow Dynamic Inserts" profile option

• Question 74:

  Which statement is true about journal entry rule sets?

  A. Description rules can be assigned only at the header level of a journal entry rule set
  B. Description rules must carry the same chart of accounts that is attached to the journal entry rule set
  C. Description rules can be assigned only at the header level of a journal entry rule set
  D. Description rules can be assigned at both the header and the line level of a journal entry rule set
  D. Description rules can be assigned at both the header and the line level of a journal entry rule set

• Question 75:

  Which transaction source is used to link transaction header and line information?

  A. Transaction Type
  B. Transaction Date
  C. Transaction Number
  D. Transaction Key
  C. Transaction Number

• Question 76:

  Challenge 3: Manage User Define Formulas

  TASK

  Create User Defined Formula for Admin Charges 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 User Defined Formula for Admin Charges

  Navigate to Manage User-Defined Formulas

  Go to: Setup and Maintenance → Task: Manage User-Defined Formulas → Create

  Formula Header

  Name: Admin Charges Formula

  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

  Formula Type: Accounting

  Formula Definition

  Click “Edit Formula”

  Use appropriate sources and logic. Example:

  IF Admin_Charge_Amount IS NOT NULL THEN Admin_Charge_Amount ELSE 0

  Use available database items like:

  -Transaction Amount

  -Line Type

  -Admin Charge Flag or Amount (custom source if applicable)

  Validate syntax after entry

  Save and Close Deploy if required and test formula output in accounting entries

• Question 77:

  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?

  A. Mapping sets
  B. Event entities
  C. Source objects
  D. Transaction objects
  D. Transaction objects

• Question 78:

  The Unified Migration option helps move functional setup data from one instance to another. Which TWO statements are true about Unified Migration?

  A. You need to manually download the configuration set from the source and manually upload it into the target
  B. You can optionally migrate only the new changes if both environments are synchronized
  C. The Unified Migration option requires registration of the target environment in the source environment
  D. There is no need to import the migration set into a sandbox instance before it is applied to the target environment
  B. You can optionally migrate only the new changes if both environments are synchronized
  C. The Unified Migration option requires registration of the target environment in the source environment

• Question 79:

  Challenge 2: Manage Account Rule

  TASK

  Create Account Rule with 3 priorities Name of Account Rule: Revenue Account 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 Account Rule with 3 Priorities

  Step 1: Navigate to Account Rules

  Go to: Setup and Maintenance

  Task: Manage Account Rules

  Click Create

  Step 2: Define Rule Header

  Name: Revenue Account

  Application: AHC Billing

  Rule Type: Account Combination

  Chart of Accounts: select appropriate COA

  Description: optional

  Step 3: Define Rule Conditions (If needed)

  Click Conditions tab

  Add conditions to distinguish between Customer Billing, Customer Pay In, etc. (optional if handled in rules)

  Step 4: Create Rule Priorities

  Priority 1

  Source Type: Value from Source

  Source: e.g., Customer Type or Transaction Type

  Value: derived account segment (e.g., from lookup or mapping set)

  Priority 2

  Source Type: Mapping Set

  Select Mapping Set that maps Event Type to account segment

  Priority 3

  Source Type: Constant Value

  Define default account code (e.g., 4000-000-XXX)

  Step 5: Assign Rule to Journal Line

  Navigate to: Manage Journal Line Rules

  For Application: AHC Billing

  Event Class: AHC Billing

  Event Types:

  Customer Billing

  Customer Pay In

  Customer Refund

  Customer Settlement

  Edit each Journal Line Rule and assign Revenue Account to the desired segment (e.g., Account segment)

  Step 6: Save and Validate

  Click Save and Close

  Deploy accounting rules if required

  Test by creating transactions and running accounting

• Question 80:

  Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

  A. Manage Reporting Currencies
  B. Specify Ledger Options
  C. Manage Accounting Attribute Assignments
  D. Manage Subledger Accounting Options
  A. Manage Reporting Currencies