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NEW QUESTION 1
'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.
Insurance premium Is to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

  • A. Offsets and Recognition
  • B. Deferral and Recognition
  • C. Reversal and Recognition
  • D. Multiperiod and Recognition

Answer: B

NEW QUESTION 2
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 accounting method.
  • B. Assign it to an account rule.
  • C. Assign it to a transaction type.
  • D. Assign it to an accounting attribute.

Answer: B

NEW QUESTION 3
Which two options allow validating input values on mapping sets?

  • A. Segment values
  • B. Lookup types
  • C. Value sets
  • D. Chart of accounts segment

Answer: BC

NEW QUESTION 4
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

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

Answer: C

NEW QUESTION 5
What is a user job role data context assignment?

  • A. Security privileges assignment to a user job role
  • B. Security data role context assignment to a user job role
  • C. Security data access context assignment to a user job role
  • D. Duty role context assignment to a user

Answer: C

NEW QUESTION 6
Which is an alternate way to implement a mapping set rule?

  • A. Define a chart of account rule with conditions.
  • B. Define a lookup type rule with conditions.
  • C. Define a flexfield rule with conditions.
  • D. Define an account rule with conditions.

Answer: D

NEW QUESTION 7
What is NOT included in the minimum required accounting attribute assignments?

  • A. Second Distribution Identifier
  • B. First Distribution Identifier
  • C. Distribution Type
  • D. Accounting Date

Answer: A

NEW QUESTION 8
What is the terminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

  • A. Virtual Machine Processing Size
  • B. Accounting Unit Commit Size
  • C. Buffer Unit Size
  • D. Processing Unit Size

Answer: D

NEW QUESTION 9
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

  • A. Reporting Sequence
  • B. Accounting Sequence
  • C. Journal Entry Sequence
  • D. Document Sequence

Answer: B

NEW QUESTION 10
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. Summarize by GL Date
  • B. Summarize by GL Period
  • C. Group by GL Date
  • D. Transfer in Details

Answer: C

NEW QUESTION 11
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 intercompany balancing option
  • B. Enable balancing rules
  • C. Enable legal entity rule
  • D. Enable chart of accounts rule

Answer: A

NEW QUESTION 12
A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

  • A. Build a new data warehouse solution.
  • B. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
  • C. Request support team to download subledger Journal entry data.
  • D. Run predefined reports and filter the report with the available report parameters.

Answer: B

NEW QUESTION 13
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: AB

NEW QUESTION 14
How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?

  • A. Two
  • B. One
  • C. Three
  • D. Unlimited

Answer: B

NEW QUESTION 15
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. Use either Account Monitor or Account Inspector to get required Information.
  • B. Build a Financial Reporting Studio report that includes all dimensions.
  • C. Build an OTBI analysis that includes a relevant subject area.
  • D. Create a Smart View report using the query designer feature.

Answer: C

NEW QUESTION 16
What can you override in a completed subledger journal entry?

  • A. the amounts
  • B. the descriptions
  • C. the account
  • D. the supporting Information

Answer: C

NEW QUESTION 17
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

  • A. Accounting Hub Create Accounting Duty Role
  • B. Accounting Hub Import Duty Role
  • C. Accounting Hub Integration Duty Role
  • D. Accounting Hub Create and Post Journal Entry Duty Role

Answer: C

NEW QUESTION 18
Which two actions can you accomplish for a registered source system?

  • A. Add new event classes through the user interface.
  • B. Modify the subledger application name as long as there are no pending accounting entries.
  • C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
  • D. Revise source Information through the user interface and add more sources.

Answer: CD

NEW QUESTION 19
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