[2025] Pass Oracle 1z0-1060-24 Test Practice Test Questions Exam Dumps [Q47-Q62]

[2025] Pass Oracle 1z0-1060-24 Test Practice Test Questions Exam Dumps

Verified 1z0-1060-24 dumps Q&As - 1z0-1060-24 dumps with Correct Answers

Oracle 1z0-1060-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Adjusting Journal Entries: This section measures the skills of Accountants in creating sub-ledger journals that include overrides and adjustments as necessary. It covers techniques for ensuring journal entries reflect true financial positions. A key skill measured is accurately adjusting journal entries to maintain integrity.
Topic 2	Analyzing and Creating Financial Reporting Structures and Ledgers: This section measures the skills of Financial Controllers in analyzing configuration requirements for legal entities, financial reporting structures, and ledgers. It includes understanding how to set up these structures to meet organizational needs. A key skill measured is designing effective financial reporting frameworks.
Topic 3	Registering Source System and PaaS (ICS) Integration: This section focuses on Integration Specialists and covers managing transaction information, line information worksheets, and integrating source systems with PaaS (ICS). It emphasizes the importance of seamless data integration for accurate financial reporting. A significant skill assessed is managing integration processes effectively.
Topic 4	Accessing Accounting, Reporting, Audit, and Reconciliation Requirements: This section targets Accounting Professionals and analyzes the requirements for accounting, reporting, auditing, and reconciliation related to transaction types. It emphasizes understanding compliance and accuracy in financial reporting. A critical skill assessed is evaluating audit and reconciliation needs thoroughly.
Topic 5	Describing Functional Setup Manager: This section targets Functional Analysts and explains the components of Functional Setup Manager used in configuring applications. It emphasizes understanding how to manage setups effectively within an organization. A critical skill assessed is explaining setup processes clearly.
Topic 6	Configuring Accounting Rules: This section targets Accounting Managers and focuses on managing various accounting rules such as intercompany journal lines, multiperiod journal entries, and accrual reversals. It emphasizes the importance of accurate rule configuration for financial accuracy. A critical skill assessed is configuring accounting rules effectively.
Topic 7	Updating Registered Source System: This section measures the skills of Systems Administrators in updating accounting attribute assignments, sources, and event types within registered source systems. It includes ensuring that all updates align with organizational standards. A key skill measured is maintaining accurate system configurations.
Topic 8	Analyzing Transaction Type Lifecycle: This section measures the skills of Financial Analysts and focuses on analyzing and identifying the transaction lifecycle within source systems. It covers the stages from transaction initiation to completion, ensuring all aspects of the lifecycle are understood. A key skill measured is effectively mapping the transaction lifecycle.

 

NEW QUESTION # 47
Your customer needs to generate journal entries for the insurance premium collected from the sale of policies. The different components of the premium collected by the company include Basic Premium and Tax.
While uploading the transaction details containing both Basic Premium and Tax amounts, which transaction source would you use to link the transaction header and line information?

• A. Transaction Number
• B. Document Sequence Number
• C. Transaction Type
• D. Document Key

Answer: A

NEW QUESTION # 48
In Functional Setup Manager, if setup data is segmented by a specific context, you can perform the setup task iteratively, such as assigning different ledger options to different primary ledgers.
Which action should you take to specify the context?

• A. Select the value for Scope
• B. Select the value for Functional Area
• C. Select the value for Feature
• D. Select the value for Lookup Code

Answer: A

NEW QUESTION # 49
Your client has a requirement to report directly from transactional tables and return the results in real-time, thus eliminating the need for a data warehouse.
Which tool would you suggest to your client to achieve this?

• A. Account Group
• B. Smart View
• C. Oracle Transactional Business Intelligence
• D. Financial Reporting Studio

Answer: C

NEW QUESTION # 50
Your customer is engaged in the business of distributing different types of loans to their customers. They need to generate dynamic descriptions for journal lines based on the type of interest rates. The two types of interest rates are adjustable and fixed.
What would be your recommendation to the customer?

• A. Define a separate journal entry rule set for each rate type
• B. Set up a single description rule with conditions defined for two priorities, one for adjustable rates and the other for fixed rates
• C. Set up separate description rules for adjustable and fixed rates
• D. Set up separate journal line rules for adjustable and fixed rates

Answer: B,D

NEW QUESTION # 51
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

• A. Manage Subledger Accounting Options
• B. Manage Reporting Currencies
• C. Manage Accounting Attribute Assignments
• D. Specify Ledger Options

Answer: B

NEW QUESTION # 52
Oracle Transactional Business Intelligence enables developers and end users to create meaningful analyses and reports by eliminating the need for SQL skills.
Which THREE tools can be used by developers and end users, while working with Oracle Transactional Business Intelligence?

• A. BI Answers
• B. BI Composer
• C. BI Mobile App Designer
• D. BI Publisher
• E. BI Drive

Answer: A,B,C

NEW QUESTION # 53
Your customer wants to enter subledger journals in adjusting periods using the ADFDi spreadsheets.
Which TWO statements are true about entering journals in adjusting periods?

• A. Defaulted Period cannot be overwritten
• B. Defaulted Period can be overwritten
• C. If the accounting date falls in both the non-adjustment and adjustment periods, the value of the accounting period in the Journal Entry page defaults to the adjustment period
• D. If the accounting date falls in both the non-adjustment and adjustment periods, the value of the accounting period in the Journal Entry page defaults to the non-adjustment period

Answer: B,D

NEW QUESTION # 54
Which is an alternate way to implement a mapping set rule?

• A. Define a flexfield rule with conditions
• B. Define an account rule with conditions
• C. Define a chart of account rule with conditions
• D. Define a lookup type rule with conditions

Answer: B

NEW QUESTION # 55
Which transaction source is used to link transaction header and line information?

• A. Transaction Number
• B. Transaction Key
• C. Transaction Type
• D. Transaction Date

Answer: A

NEW QUESTION # 56
SIMULATION
Challenge 2: Manage Account Rule
TASK
Create Account Rule with 3 priorities
Name of Account Rule: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

Answer:

Explanation:
See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create an Account Rule with 3 Priorities in Oracle Fusion Step 1: Navigate to Manage Account Rules Log in to Oracle Fusion with appropriate privileges for Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage Account Rules.
Step 2: Create the Account Rule
Click Create to add a new Account Rule.
Enter the following details:
Name: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement Rule Type: Account Click Save, then proceed to define Priorities.
Step 3: Define Three Priorities for the Revenue Account Rule
Now, define three priorities for determining the revenue account:
Priority 1: Derived from Transaction Type
Click Add Row to define Priority 1.
Set Priority Order as 1.
Define Condition:
If Transaction Type = "Customer Billing", then Account = 4000 (Revenue Account) Source Type: Use Transaction Type as the basis.
Click Save.
Priority 2: Derived from Customer
Click Add Row to define Priority 2.
Set Priority Order as 2.
Define Condition:
If Customer Category = "Wholesale", then Account = 4010 (Wholesale Revenue) Source Type: Use Customer Category as the basis.
Click Save.
Priority 3: Default Revenue Account
Click Add Row to define Priority 3.
Set Priority Order as 3.
Define Condition:
Default Revenue Account = 4999 (for any other transactions)
Source Type: Use Constant Value.
Click Save.
Step 4: Validate and Assign the Account Rule
Click Validate to ensure the rule has no errors.
Navigate to Manage Journal Entry Rule Sets.
Locate the AHC Billing Journal Entry Rule Set.
Assign the newly created Revenue Account Rule to the appropriate Journal Line Rule (such as Revenue or Income).
Click Save and Close.
Step 5: Test the Account Rule
Go to Subledger Accounting > Accounting Entries.
Generate accounting for different transactions:
Customer Billing should derive Account 4000.
Wholesale Customer Billing should derive Account 4010.
Other transactions should derive Account 4999.
Review and confirm that the correct accounts are assigned.

NEW QUESTION # 57
You are implementing the Oracle Fusion Cloud Financial Accounting Hub (FAH) service for three legacy Receivables systems. As part of your FAH implementation project, the customer requests that general ledger journals be summarized to keep a thin general ledger as billing in the three source systems is per delivery.
Which two options can be used in FAH to create the requested general ledger journals?

• A. Summarize by general ledger period
• B. Summarize by general ledger date
• C. Group by general ledger period
• D. Summarize by journal source
• E. Group by general ledger date
• F. Summarize by journal category

Answer: A,B

NEW QUESTION # 58
Your client has implemented the Accounting Hub Cloud solution. They import their transaction data from the source system on a daily basis, and while doing so, some transactions are not being accounted properly. They want these invalid transactions purged and the correct transactions re-imported.
Which job would you submit to purge the invalid transactions?

• A. Purge Invalid and Unaccounted Accounting Hub Transactions Job
• B. Purge Accounting Hub Transactions Job
• C. Import Accounting Transactions Job with Purge Invalid Transaction parameter set to "Yes"
• D. Set Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions

Answer: D

NEW QUESTION # 59
What is NOT included in the minimum required accounting attribute assignments?

• A. Second Distribution Identifier
• B. Distribution Type
• C. First Distribution Identifier
• D. Accounting Date

Answer: A

NEW QUESTION # 60
Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems.
Which implementation setup allows the sharing of accounting rules for all four external systems?

• A. Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan
• B. Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan
• C. Four subledgers, one for each source system
• D. One subledger for all four source systems

Answer: D

NEW QUESTION # 61
Which two actions can you accomplish for a registered source system?

• A. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet
• B. Modify the subledger application name as long as there are no pending accounting entries
• C. Add new event classes through the user interface
• D. Revise source Information through the user interface and add more sources

Answer: A,D

NEW QUESTION # 62
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