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: Source System Integration | 20% | - Transaction Data Integration
|
| Topic 2: Transaction Processing | 15% | - Accounting Processing
|
| Topic 3: Implementation and Security | 10% | - Administration and Security
|
| Topic 4: Reporting and Inquiry | 15% | - Reporting Capabilities
|
| Topic 5: Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Topic 6: Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
Given the journal:
What is the terminology that is used to identify the "Account Number', 'Original Balance' , and 'Origination Date' fields?
- A. System Identifier
- B. Attribute Identifier
- C. User Transaction Identifier
- D. Source System Identifier
Correct Answer: B 🗳️
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 🗳️
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- B. Change the transaction data file.
- C. Register it as a new source system.
- D. Add this as a new transaction type into existing registered subledger from the user interface.
Correct Answer: C,D 🗳️
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 🗳️
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 chart of accounts rule
- B. Enable intercompany balancing option
- C. Enable balancing rules
- D. Enable legal entity rule
Correct Answer: B 🗳️
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