Oracle 1Z0-1060-20 : Oracle Accounting Hub Cloud 2020 Implementation Essentials

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A) transfer Balances to FAH Reporting Cloud Service
B) provide real-time visibility to financial reports in FAH Reporting Cloud Service
C) synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
D) upload transaction data into FAH Reporting Cloud Service

2. '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. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

A) Recognition Journal class
B) Multiperiod class
C) Accounting class
D) Recurring Journal class

3. 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.

4. How do you enable diagnostics on subledger transaction sources?

A) enable diagnostic source
B) enable diagnostic attribute
C) enable transaction debug
D) enable diagnostic profile

5. 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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

A) One primary, one repotting currency ledger
B) Two primary ledgers
C) One primary, one secondary ledger
D) One primary ledger

Solutions: