Ultimate Guide to Prepare 1z0-1060-22 with Accurate PDF Questions [Jan 22, 2023]
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NEW QUESTION 41
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 Answers.
- C. BI Publisher.
- D. BI Composer.
Answer: B
NEW QUESTION 42
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?
- A. Accounting Sequence
- B. Reporting Sequence
- C. Journal Entry Sequence
- D. Document Sequence
Answer: A
NEW QUESTION 43
What is the maximum length for a name of a transaction type in the Source System Transaction worksheet?
- A. 25.
- B. 30.
- C. 40.
- D. 20.
Answer: B
NEW QUESTION 44
What is NOT included in the minimum required accounting attribute assignments?
- A. First Distribution Identifier
- B. Distribution Type
- C. Accounting Date
- D. Second Distribution Identifier
Answer: D
NEW QUESTION 45
Which tool will you use to review an account group in a graphical format from the Financial Reporting Center?
- A. BI Catalog
- B. Sunburst
- C. BI Composer
- D. EPM
Answer: A
NEW QUESTION 46
Which three are mandatory transaction source information?
- A. Distribution Link
- B. Ledger Name
- C. Transaction Line
- D. Transaction Date
- E. Transaction Number
Answer: B,D,E
NEW QUESTION 47
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 Journal line?
- 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: A
NEW QUESTION 48
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction type into existing registered subledger from the user interface.
- B. Register it as a new source system.
- C. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- D. Change the transaction data file.
Answer: A,B
NEW QUESTION 49
You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?
- A. Run Create Accounting again to generate journal entries for the events that ended in error.
- B. Run the Accounting Events Diagnostic Report.
- C. Set the "SLA: Diagnostics Enabled" profile option.
- D. Submit the Accounting Event Diagnostics process.
Answer: C
NEW QUESTION 50
A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.
How can you meet this requirement?
- A. Build an OTBI analysis that includes a relevant subject area.
- B. Create a Smart View report using the query designer feature.
- C. Build a Financial Reporting Studio report that includes all dimensions.
- D. Use either Account Monitor or Account Inspector to get required Information.
Answer: A
NEW QUESTION 51
What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Mapping sets
- B. Event entities
- C. Source objects
- D. Transaction objects
Answer: D
NEW QUESTION 52
Which statement is true about accounting transformation?
- A. It is used to build approval rules for transaction recorded in third party source system.
- B. It allows recording of transaction directly in the registration third-party source system.
- C. It is the process of converting transaction or activities from any source systems into journal entries.
- D. It is the process of converting transaction or activities into journal entries that are recorded only Oracle -owned source system.
Answer: C
NEW QUESTION 53
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 set up an account rule that is based on leased and owned trucks?
- A. Set up a value set rule.
- B. Set up an account source in the source system file and derive the value.
- C. Set up a mapping set rule.
- D. Set up a lookup value.
Answer: C
NEW QUESTION 54
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 wil the typical transaction information be at the header level?
- A. Customer Number
- B. Line Type
- C. Currency
- D. Amount
Answer: A
NEW QUESTION 55
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 mapping set rules
- C. Use analytical calculations
- D. Use flexfield
Answer: A
NEW QUESTION 56
Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?
- A. Manage Subledger Accounting Options
- B. Manage Reporting Currencies
- C. Manage Accounting Attribute Assignments
- D. Specify Ledger Options
Answer: C
NEW QUESTION 57
'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" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
- B. "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
- C. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
- D. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)
Answer: C
NEW QUESTION 58
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?
- A. Journal Entry
- B. Journal Line Rule
- C. Journal Entry Rule Set
- D. Event Type
- E. Event Class
Answer: B
NEW QUESTION 59
Given the business requirement in the 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 are the key transaction types mentioned in the use case?
- A. Initiate Truck Rentals Contract and Pay Truck Maintenance
- B. Purchase Trucks and Deploy Trucks
- C. Purchase Trucks and Pay Out Trucks
- D. Pay Insurance and Control Truck Services
Answer: A
NEW QUESTION 60
Which component of the Accounting Method is used to store additional source information about transactions and is also useful for reconciliation of accounting to source systems, as well as reporting?
- A. Journal Line Rules
- B. Conditions
- C. Supporting References
- D. Description Rules
Answer: C
NEW QUESTION 61
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 source does not return any value; therefore the rule is not displayed.
- B. The rule is built using a line level source.
- C. The rule is built using a custom source.
- D. The rule is built using a value set source.
Answer: B
NEW QUESTION 62
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?
- A. Accounting Hub Create and Post Journal Entry Duty Role
- B. Accounting Hub Integration Duty Role
- C. Accounting Hub Import Duty Role
- D. Accounting Hub Create Accounting Duty Role
Answer: B
NEW QUESTION 63
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