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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Upload Transaction Data and Adjust Journal Entries | 10% | |
| Topic 2: Reporting, Auditing and Diagnostics | 10% | |
| Topic 3: Configure Accounting Rules | 20% | |
| Topic 4: Analyze Accounting, Reporting, Audit and Reconciliation Requirements | 20% | |
| Topic 5: Analyze Transaction Type Life Cycle | 15% | |
| Topic 6: Register and Update Source Systems | 15% | |
| Topic 7: Modeling Considerations | 10% |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
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 thirdparties 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 chart of accounts rule
- B. Enable legal entity rule
- C. Enable intercompany balancing option
- D. Enable balancing rules
Correct Answer: C 🗳️
What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?
- A. Use PaaS tools, for example, ICS - to perform ETL tasks.
- B. Use Oracle ERP Integration tool.
- C. Use a web service tool.
- D. Use Oracle OTBI tool.
Correct Answer: A 🗳️
Which three are mandatory transaction source information?
- A. Transaction Number
- B. Transaction Date
- C. Distribution Link
- D. Ledger Name
- E. Transaction Line
Correct Answer: A,B,D 🗳️
Which is an alternate way to implement a mappingset rule?
- A. Define a chart of account rule with conditions.
- B. Define a flexfield rule with conditions.
- C. Define a lookup type rule with conditions.
- D. Define an account rule with conditions.
Correct Answer: D 🗳️
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. Event Class
- B. Event Type
- C. Journal Line Rule
- D. Journal Entry
- E. Journal Entry Rule Set
Correct Answer: C 🗳️
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