Oracle 1z0-1060-22 Real Exam Questions Guaranteed Updated Dump from PrepPDF
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NEW QUESTION 15
Given the business 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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?
- A. Enable legal entity rule
- B. Enable chart of accounts rule
- C. Enable balancing rules
- D. Enable intercompany balancing option
Answer: D
NEW QUESTION 16
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 Journalline?
- A. Assign a line classification or line type attribute.
- B. You do not need to do anything additional.
- C. Assign a custom formula.
- D. Assign an accounting attribute.
Answer: B
NEW QUESTION 17
Given the business 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 sourcecode 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.
How do you calculate discounts for use in the accounting rule?
- A. Usecustom formulas
- B. Use analytical calculations
- C. Use flexfield
- D. Use mapping set rules
Answer: A
NEW QUESTION 18
Your customer has decided to implement Accounting Hub to generate journal entries for one of their billing systems. They want to track the revenue amounts generated by each of the account managers.
What must they define to meet this requirement?
- A. Supporting reference without balance using Account Manager as a source.
- B. Description rule with Account Managers as a source.
- C. Supporting reference with balance using Account Manager as a source.
- D. Description rule with Revenue Amount as a source.
Answer: C
NEW QUESTION 19
Which task in the Setup and Maintenance work area is used to download the template for registering a source system in the Accounting Hub Cloud?
- A. Manage Subledger Application
- B. Update Subledger Accounting Options
- C. Manage Configuration Packages
- D. Create Subledger Application Setups in the Spreadsheet
Answer: D
NEW QUESTION 20
Which tool enables developers to produce real-time information by creating analyses and reports by suing graphs, charts, and tables?
- A. Financial Reporting Studio.
- B. BI Publisher.
- C. BI Composer.
- D. BI Answers.
Answer: D
NEW QUESTION 21
'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.
- A. "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
- B. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
- C. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)
- D. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
Answer: B
NEW QUESTION 22
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. provide real-time visibility to financial reports inFAH Reporting Cloud Service
- B. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
- C. upload transaction data into FAH Reporting Cloud Service
- D. transfer Balances to FAH Reporting Cloud Service
Answer: C
NEW QUESTION 23
Which transaction source is used to link transaction header and line information?
- A. Transaction Type
- B. Transaction Date
- C. Transaction Number
- D. Transaction Key
Answer: C
NEW QUESTION 24
Given the business 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.
How can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?
- A. Set up automatic Journal line reversal.
- B. Create an adjustment journal entry.
- C. Set up multiperiod accounting journal lines.
- D. Set up a transaction line reversal.
Answer: C
NEW QUESTION 25
Which three duty roles are required to perform Accounting Hub setup tasks?
- A. Subledger Accounting Manager
- B. Accounting Hub Integration
- C. Accounting Hub Administration
- D. Accounting Hub Maintenance
- E. Application Implementation Consultant
Answer: A,B,E
NEW QUESTION 26
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?
- A. Group by GL Date
- B. Summarize by GL Date
- C. Transfer in Details
- D. Summarize by GL Period
Answer: A
NEW QUESTION 27
Which is used to track a specific transaction attribute on subledger journal entries?
- A. account rules
- B. value set rules
- C. supporting references
- D. lookup value rules
Answer: C
NEW QUESTION 28
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 Subledger Accounting Options
- D. Manage Accounting Attribute Assignments
Answer: A
NEW QUESTION 29
Which role combines the functional privilege for an individual task or duty with the relevant data security policies?
- A. Aggregate Privilege
- B. Abstract Roles
- C. Data Role
- D. Duty Role
Answer: A
NEW QUESTION 30
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