1Z0-1060-22 Online Practice Questions and Answers

There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on the entered amounts for the line.

What is the solution to implement this requirement?

A. define line description rule with condition

B. define journal line rules with conditions

C. define journal entry rule set with condition

D. define user transaction line identifier

After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?

A. Add new transaction sources from the user interface.

B. Register another source system that includes these new transaction sources.

C. Tell them this cannot be implemented.

D. Add new transaction sources in the current source system registration spreadsheet and re-upload the spreadsheet file.

What are all the tabs that are available to be completed in the Register Source System spreadsheet?

A. Source System and Line Information

B. Source System and Transaction Information

C. Source System

D. Source System, Transaction Information, and Line Information

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.

What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?

A. ERP Integration Service

B. Oracle Web Center Content Client Command line tool

C. Oracle Virtual Web Center Services

D. Oracle UCM Web Services

Which three duty roles are required to perform Accounting Hub setup tasks?

A. Accounting Hub Maintenance

B. Subledger Accounting Manager

C. Accounting Hub Administration

D. Application Implementation Consultant

E. Accounting Hub Integration

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

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 can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?

A. Set up multiperiod accounting journal lines.

B. Set up a transaction line reversal.

C. Create an adjustment journal entry.

D. Set up automatic Journal line reversal.

Given the subledger journal entry:

Note that the first segment is the primary balancing segment. Which statement is True regarding this subledger journal entry?

A. It is not balanced by balancing segment.

B. It is not balanced by entered currency.

C. It is not balanced by entered amounts.

D. It appears correct.

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