[Oct 29, 2022] New 1z0-1060-22 Exam Dumps with High Passing Rate
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Oracle 1z0-1060-22 Exam Syllabus Topics:
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NEW QUESTION 35
Given the business requirement in the 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 are the key transaction types mentioned in the use case?
- A. Purchase Trucks and Deploy Trucks
- B. Purchase Trucks and Pay Out Trucks
- C. Initiate Truck Rentals Contract and Pay Truck Maintenance
- D. Pay Insurance and Control Truck Services
Answer: C
NEW QUESTION 36
Which tool will you use to review an account group in a graphical format from the Financial Reporting Center?
- A. Sunburst
- B. EPM
- C. BI Composer
- D. BI Catalog
Answer: D
NEW QUESTION 37
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General LedgerJournal Entry Summarization options meets this requirement?
- A. Summarize by GL Period
- B. Group by GL Date
- C. Transfer in Details
- D. Summarize by GL Date
Answer: D
NEW QUESTION 38
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
- A. Manage Accounting Attribute Assignments
- B. Manage Subledger Accounting Options
- C. Specify Ledger Options
- D. Manage Reporting Currencies
Answer: D
NEW QUESTION 39
What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Transaction objects
- B. Event entities
- C. Mapping sets
- D. Source objects
Answer: B
NEW QUESTION 40
Which three are mandatory transaction source information?
- A. Ledger Name
- B. Transaction Line
- C. Distribution Link
- D. Transaction Date
- E. Transaction Number
Answer: A,B,D
NEW QUESTION 41
'Insurances for Homes' company provide home insurance service. They have in house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the Journal entries.
Insurance premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?
- A. Multiperiod class
- B. Recurring Journal class
- C. Recognition Journal class
- D. Accounting class
Answer: A
NEW QUESTION 42
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. Activate the accounting method.
- C. Download a new transaction data template.
- D. Activate the journal entry rule set.
Answer: A
NEW QUESTION 43
Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all Journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journal line?
- A. Assign a custom formula.
- B. Assign an accounting attribute.
- C. You do not need to do anything additional.
- D. Assign a line classification or line type attribute.
Answer: D
NEW QUESTION 44
'Insurances for Homes' company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
- A. Deferral and Recognition
- B. Multiperiod and Recognition
- C. Reversal and Recognition
- D. Offsets and Recognition
Answer: B
NEW QUESTION 45
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 appears correct.
- B. It is not balanced by entered currency.
- C. It is not balanced by entered amounts.
- D. It is not balanced by balancing segment.
Answer: D
NEW QUESTION 46
A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.
How can you meet this requirement?
- A. Create a Smart View report using the query designer feature.
- B. Use either Account Monitor or Account Inspector to get required Information.
- C. Build a Financial Reporting Studio report that includes all dimensions.
- D. Build an OTBI analysis that includes a relevant subject area.
Answer: D
NEW QUESTION 47
What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?
- A. Oracle UCM Web Services
- B. Oracle Web Center Content Client Command line tool
- C. ERP Integration Service
- D. Oracle Virtual Web Center Services
Answer: D
NEW QUESTION 48
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?
- A. Summarize by GL Period
- B. Summarize by GL Date
- C. Group by GL Date
- D. Transfer in Details
Answer: C
NEW QUESTION 49
After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?
- A. a predefined Oracle Business Intelligence Publisher report
- B. an Oracle Transactional Business Intelligence analysis
- C. an Oracle Financial Reporting Studio report
- D. a Smart View Report
Answer: B
NEW QUESTION 50
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 automatic Journal line reversal.
- B. Set up a transaction line reversal.
- C. Create an adjustment journal entry.
- D. Set up multiperiod accounting journal lines.
Answer: D
NEW QUESTION 51
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