Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Topic 2: Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
| Topic 3: Reporting and Inquiry | 15% | - Reporting Capabilities
|
| Topic 4: Implementation and Security | 10% | - Administration and Security
|
| Topic 5: Transaction Processing | 15% | - Accounting Processing
|
| Topic 6: Source System Integration | 20% | - Transaction Data Integration
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
What is NOT included in the minimum required accounting attribute assignments?
- A. Accounting Date
- B. Second Distribution Identifier
- C. First Distribution Identifier
- D. Distribution Type
Correct Answer: B 🗳️
What is the key attribute that is used to query journal entries of a registered source system?
- A. Journal Source
- B. Accounting Date
- C. Ledger Name
- D. Transaction Date
Correct Answer: A 🗳️
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 provides an audit trail by preserving the original subledger journal entry.
- B. The account override feature is only intended to correct subledger journals that have been posted.
- C. The account override feature adjusts the original source transaction.
- D. The account override feature allows users to record a reason for the adjustment.
Correct Answer: A,D 🗳️
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 calculate discounts for use in the accounting rule?
- A. Use mapping set rules
- B. Use flexfield
- C. Use custom formulas
- D. Use analytical calculations
Correct Answer: C 🗳️
Which transaction source is used to link transaction header and line information?
- A. Transaction Key
- B. Transaction Date
- C. Transaction Type
- D. Transaction Number
Correct Answer: D 🗳️
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