Oracle Oracle Certifications 1Z0-1060-22 Questions & Answers

• Question 41:

  While creating a journal entry rule set you are NOT able to use an account rule that was created recently.

  Which two reasons can explain this?

  A. The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.

  B. The account rule is defined with conditions that are not allowing the assignment.

  C. The account rule does not return any valid account value.

  D. The account rule is defined with a different chart of accounts from the journal entry rule set.

  Correct Answer: AD

• 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. Activate the journal entry rule set.

  B. Activate the accounting method.

  C. There is no required action. The mapping addition is complete.

  D. Download a new transaction data template.

  Correct Answer: C

• Question 43:

  What is the required date format used to import accounting transactions to Accounting Hub Cloud?

  A. The user can customize the date format

  B. MM-DD-YYYY

  C. DD-MON-YYYY

  D. YYYY-MM-DD

  Correct Answer: D

• Question 44:

  Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.

  What is the solution?

  A. Create a 30 account combination rule with a condition of expense type.

  B. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.

  C. Create two journal line rules with a condition of supplier type.

  D. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.

  Correct Answer: B

• Question 45:

  You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.

  What is the solution?

  A. Use the Open Account Balances Listing report that has balances by customer.

  B. Use the Third Party Control Account feature.

  C. Use Supporting References to capture customer classification information.

  D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

  Correct Answer: C

• Question 46:

  What can you override in a completed subledger journal entry?

  A. the amounts

  B. the descriptions

  C. the account

  D. the supporting Information

  Correct Answer: C

• Question 47:

  '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.

  Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.

  A. "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)

  B. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")

  C. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date" "Effective Date") + 1)

  D. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")

  Correct Answer: D

• Question 48:

  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

  Correct Answer: A

• Question 49:

  What is the key attribute that is used to query journal entries of a registered source system?

  A. Ledger Name

  B. Transaction Date

  C. Journal Source

  D. Accounting Date

  Correct Answer: C

• Question 50:

  What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

  A. Reporting Sequence

  B. Accounting Sequence

  C. Journal Entry Sequence

  D. Document Sequence

  Correct Answer: B