Oracle 1Z0-1060-21 : Oracle Accounting Hub Cloud 2021 Implementation Essentials

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Oracle Accounting Hub Cloud 2021 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 thirdparties 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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

A) Enable legal entity rule
B) Enable balancing rules
C) Enable chart of accounts rule
D) Enable intercompany balancing option

2. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

A) Accounting HubIntegration Duty Role
B) Accounting Hub Create and Post Journal Entry Duty Role
C) Accounting Hub Create Accounting Duty Role
D) Accounting Hub Import Duty Role

3. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

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

4. Given the journal:

What is the terminology that is used to identify the "Account Number', 'Original Balance' ,and 'Origination Date' fields?

A) Attribute Identifier
B) Source System Identifier
C) System Identifier
D) User Transaction Identifier

5. What can you override in a completed subledger journal entry?

A) the supporting Information
B) the amounts
C) the account
D) the descriptions

Solutions: