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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Accounting Hub Cloud Overview | - Architecture and key components
|
| Topic 2: Configuration and Setup | - Initial setup tasks
|
| Topic 3: Accounting Rules and Mapping | - Accounting rule definition
|
| Topic 4: Data Integration and Processing | - Transaction processing
|
| Topic 5: Reporting and Reconciliation | - Financial reporting outputs
|
| Topic 6: Implementation and Administration | - Deployment and maintenance
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
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 a line classification or line type attribute.
- C. Assign an accounting attribute.
- D. You do not need to do anything additional.
Correct Answer: B 🗳️
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
- A. Conversion type
- B. Conversion type and conversion date
- C. Conversion date and conversion rate
- D. Conversion type, conversion date and conversion rate
Correct Answer: C 🗳️
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 is not balanced by entered currency.
- B. It is not balanced by balancing segment.
- C. It appears correct.
- D. It is not balanced by entered amounts.
Correct Answer: B 🗳️
'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. 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. Reversal and Recognition
- C. Offsets and Recognition
- D. Multiperiod and Recognition
Correct Answer: A 🗳️
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 user transaction line identifier
- B. define journal entry rule set with condition
- C. define journal line rules with conditions
- D. define line description rule with condition
Correct Answer: D 🗳️
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