Oracle
1Z0-1060-24
Oracle Accounting Hub Cloud 2024 Implementation
Professional
QUESTION & ANSWERS
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QUESTION: 1
Which tool will you use to review an account group in a graphical format from the Financial Reporting
Center?
Option A : EPM
Option B : Sunburst
Option C : BI Composer
Option D : BI Catalog
Correct Answer: D
QUESTION: 2
'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 forslicing 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 twodates.
Option A : 'Amount' *( NumberofGLPeriod ('Effective Date', 'Last Day of Current Accounting Period') + 1)/
(NumberofGLPeriod ('Effective Date', 'Expiiy Date') + 1)
Option B :
'Amount' - ('Last Day of Current Accounting Period' - 'Effective Date' ) / ('Expiry Date' -'Effective Date')
Option C : 'Amount' * ('Last Day ol Current Accounting Period' - 'Effective Date' + 1) / (('Expiry Date'
'Effective Date') + 1)
Option D : 'Amount' * NumberofGLPeriod ('Effective Date', 'Last Day of Current Accounting Period') /
NumberofGLPeriod ('Effective Date', 'Expiry Date')
Correct Answer: D
QUESTION: 3
Which three worksheets are a part of the source system Registration Spreadsheet Template? Choose Three
Option A : Line Information
Option B : Source System
Option C : Metadata Information
Option D : Accounting Method Information
Option E : Transaction Information
Correct Answer: A,B
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QUESTION: 4
After registering a new source system into Accounting Hub and going live for a short period, your customer
identified the need to add additional transaction sources. What should you do?
Option A : Add new transaction sources from the user interface.
Option B : Register another source system that includes these new transaction sources.
Option C : Tell them thiscannot be implemented.
Option D : Add new transaction sources in the current source system registration spreadsheet and re-
upload the spreadsheet file.
Correct Answer: A
QUESTION: 5
Given the business use case:'New Trucks' runs a fleetof 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 andrecognized 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 tobe able to view: total maintenance fee, total
outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee
income.What would the typical line information be?
Option A : Customer Number
Option B : Truck Type
Option C :
Company
Option D : TransactionDate
Correct Answer: A
QUESTION: 6
Given the business use case:'New Trucks' runs a fleet of trucks in a rental business In the U.S. Themajority 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 pass the calculated value for discount amounts in accounting rules to the corresponding
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journal line?
Option A : Assign it to an accounting method.
Option B : Assign it to an account rule.
Option C : Assign it to a transaction type.
Option D : Assign it to an accounting attribute.
Correct Answer: D
QUESTION: 7
Your customer has decided to implement Accounting Hub to generate journal entries for one of their billing
systems. They want to track the revenue amounts generated by each of the account managers.What must
they define to meet this requirement?
Option A : Supporting reference without balance using Account Manager as a source.
Option B : Supporting reference with balance using Account Manager as a source.
Option C : Description rule with Revenue Amount as a source.
Option D : Description rule with Account Managers as a source.
Correct Answer: B
QUESTION: 8
What attribute of a subledger journal entry is NOT transferred to GL?
Option A : Accounting class
Option B : Accounting lines
Option C : Accounted amounts
Option D : Supporting references
Correct Answer: B
QUESTION: 9
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?
Option A : an Oracle Financial Reporting Studio report
Option B : a predefined Oracle Business Intelligence Publisher report
Option C : an Oracle Transactional Business Intelligence analysis
Option D : a Smart View Report
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Correct Answer: C
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