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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Source System Integration | 20% | - Transaction Data Integration
|
| Topic 2: Transaction Processing | 15% | - Accounting Processing
|
| Topic 3: Implementation and Security | 10% | - Administration and Security
|
| Topic 4: Reporting and Inquiry | 15% | - Reporting Capabilities
|
| Topic 5: Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Topic 6: Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
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 accounting rules to be shared?
- A. One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
- B. One subledger for all 4 source systems.
- C. One subledger for the 3 Loan systems and one subledger for Insurance.
- D. One subledger for each source system.
Correct Answer: B,C 🗳️
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 wil the typical transaction information be at the header level?
- A. Amount
- B. Currency
- C. Customer Number
- D. Line Type
Correct Answer: C 🗳️
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
Correct Answer: B 🗳️
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. Two primary ledgers
- B. One primary, one secondary ledger
- C. One primary, one repotting currency ledger
- D. One primary ledger
Correct Answer: D 🗳️
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 that maps 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. There is no required action. The mapping addition is complete.
- B. Download a new transaction data template.
- C. Activate the journal entry rule set.
- D. Activate the accounting method.
Correct Answer: A 🗳️
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