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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. 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 notbalanced by balancing segment.
B) It is not balanced by entered currency.
C) It is not balanced by entered amounts.
D) It appears correct.

2. How do you enable diagnostics on subledger transaction sources?

A) enable diagnostic source
B) enable transaction debug
C) enable diagnostic attribute
D) enable diagnostic profile

3. Given the business use case:
'New Trucks' runs a fleet of trucks in a rentalbusiness 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: totalmaintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How manyledgers are required to be set up?

A) Two primary ledgers
B) One primary, one secondary ledger
C) One primary, one repotting currency ledger
D) One primary ledger

4. 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 inthe 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, 'NewTrucks' 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 AccountingHub Cloud?

A) Set up multiperiod accounting journal lines.
B) Set up a transaction line reversal.
C) Create an adjustment journal entry.
D) Set up automatic Journal line reversal.

5. 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 andloss 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 set up an account rule that is based on leased and owned trucks?

A) Set up a value set rule.
B) Set up a lookup value.
C) Set up an account source in the source system file and derive the value.
D) Set up a mapping set rule.

Solutions: