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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Adjust Journal Entries | - Manage and adjust journal entries |
| Topic 2: Reporting and Period Close | - Reporting and period close processes |
| Topic 3: Transaction Data and Automation | - Understand transaction data and automation with web services |
| Topic 4: Diagnostics | - Perform diagnostic and troubleshooting tasks |
| Topic 5: Functional Setup and Security | - Use Functional Setup Manager - Configure security roles and access |
| Topic 6: Source System and Integration | - Register source systems and integration options - Update registered source systems |
| Topic 7: Accounting Rule Configuration | - Configure and analyze accounting rules |
| Topic 8: Transaction Lifecycle | - Analyze transaction type life cycle |
| Topic 9: Accounting, Reporting, Audit, and Reconciliation | - Analyze accounting, reporting, audit, and reconciliation requirements |
| Topic 10: Modeling Considerations | - Analyze modeling considerations |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
How many transaction eventclasses can be set up for a subledger uploaded to Accounting Hub Cloud?
- A. Three
- B. Unlimited
- C. One
- D. Two
Correct Answer: C 🗳️
A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value thatmaps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?
- A. Download a new transaction data template.
- B. Activate the journal entry rule set.
- C. Activate the accounting method.
- D. There is no required action. The mapping addition is complete.
Correct Answer: D 🗳️
A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accountingrules to be shared?
- A. One subledger for each source system.
- B. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
- C. One subledger for all 4 source systems.
- D. One subledger for the 3 Loan systems and one subledger for Insurance.
Correct Answer: C,D 🗳️
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 inthe 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, 'NewTrucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?
- A. Set up a transaction line reversal.
- B. Set up automatic Journal line reversal.
- C. Set up multiperiod accounting journal lines.
- D. Create an adjustment journal entry.
Correct Answer: C 🗳️
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. MM-DD-YYYY
- B. YYYY-MM-DD
- C. The user can customize the date format
- D. DD-MON-YYYY
Correct Answer: B 🗳️
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