Oracle 1Z1-1060 Actual Tests : Oracle Accounting Hub Cloud 2019 Implementation Essentials

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Common Questions Candidates Ask About 1Z1-1060

Oracle Accounting Hub Cloud 2019 Implementation Essentials Sample Questions:

Question 1

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 do you pass the calculated value for discount amounts in accounting rules to the corresponding journal line?

A. Assign it to an account rule.
B. Assign it to an accounting method.
C. Assign it to a transaction type.
D. Assign it to an accounting attribute.

Question 2

You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?

A. The rule is built using a custom source.
B. The rule is built using a line level source.
C. The rule is built using a value set source.
D. The source does not return any value; therefore the rule is not displayed.

Question 3

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?

A. define user transaction line identifier
B. define line description rule with condition
C. define journal entry rule set with condition
D. define journal line rules with conditions

Question 4

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

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

Question 5

In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?

A. Use a custom formula in a journal line rule to derive amounts.
B. Use a custom formula in an account rule to derive amounts.
C. Use a custom formula in a description rule to derive amounts.
D. Use a custom formula in a supporting reference to derive amounts.

Solutions: