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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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 multiperiod accounting journal lines.
B) Set up a transaction line reversal.
C) Set up automatic Journal line reversal.
D) Create an adjustment journal entry.

2. What is the required date format used to import accounting transactions to Accounting Hub Cloud?

A) MM-DD-YYYY
B) YYYY-MM-DD
C) DD-MON-YYYY
D) The user can customize the date format

3. Which three are mandatory transaction source information?

A) Transaction Date
B) Transaction Number
C) Distribution Link
D) Transaction Line
E) Ledger Name

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

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

5. Given the journal:

What is the terminology that is used to identify the "Account Number', 'Original Balance' ,and 'Origination Date' fields?

A) User Transaction Identifier
B) Source System Identifier
C) System Identifier
D) Attribute Identifier

Solutions: