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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
| Transaction Processing | 15% | - Accounting Processing
|
| Source System Integration | 20% | - Transaction Data Integration
|
| Implementation and Security | 10% | - Administration and Security
|
| Reporting and Inquiry | 15% | - Reporting Capabilities
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
1. How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?
A) Two
B) Unlimited
C) Three
D) One
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.
How can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?
A) Set up a transaction line reversal.
B) Create an adjustment journal entry.
C) Set up automatic Journal line reversal.
D) Set up multiperiod accounting journal lines.
3. Which three are mandatory transaction source information?
A) Transaction Number
B) Distribution Link
C) Ledger Name
D) Transaction Date
E) Transaction Line
4. A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accounting rules to be shared?
A) One subledger for the 3 Loan systems and one subledger for Insurance.
B) One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
C) One subledger for each source system.
D) One subledger for all 4 source systems.
5. 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 allows users to record a reason for the adjustment.
C) The account override feature is only intended to correct subledger journals that have been posted.
D) The account override feature adjusts the original source transaction.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A,C,D | Question # 4 Answer: A,D | Question # 5 Answer: A,B |
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