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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 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 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 set up an account rule that is based on leased and owned trucks?

A) Set up a value set rule.
B) Set up an account source in the source system file and derive the value.
C) Set up a lookup value.
D) Set up a mapping set rule.

2. You are explaining to an accountant that account override is an adjustment feature of Subledger Accounting.
Which two traits can help you explain this feature?

A) The account override feature allows users to record a reason for the adjustment.
B) The account override feature is only intended to correct subledger journals that have been posted.
C) The account override feature provides an audit trail by preserving the original subledger journal entry.
D) The account override feature adjusts the original source transaction.

3. What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A) synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
B) transfer Balances to FAH Reporting Cloud Service
C) upload transaction data into FAH Reporting Cloud Service
D) provide real-time visibility to financial reports in FAH Reporting Cloud Service

4. Which is used to track a specific transaction attribute on subledger journal entries?

A) value set rules
B) lookup value rules
C) account rules
D) supporting references

5. Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

A) Event Type
B) Journal Line Rule
C) Journal Entry
D) Journal Entry Rule Set
E) Event Class

Solutions: