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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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.

2. 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.
What do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

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

3. What is NOT included in the minimum required accounting attribute assignments?

A) Distribution Type
B) Second Distribution Identifier
C) First Distribution Identifier
D) Accounting Date

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

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

5. Which four options are used to reconcile subledger journal entries?

A) Run the Subledger Accounting Method Setups report.
B) Run the Subledger Accounting Diagnostics report.
C) Tag supporting references with journal entry lines.
D) Assign a descriptive text and source on journal lines.
E) Set up reconciliation using the reconciliation reference accounting attribute.
F) Build a custom OTBI report.

Solutions: