| Exam Code | 1z0-1060-20 |
| Exam Name | Oracle Accounting Hub Cloud 2020 Implementation Essentials |
| Questions | 60 Questions Answers With Explanation |
| Update Date | March 05,2024 |
| Price |
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You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts. What is the solution?
A. Use the Open Account Balances Listing report that has balances by customer.
B. Use the Third Party Control Account feature.
C. Use Supporting References to capture customer classification information.
D. Capture customer information as the source and develop a custom report using OnlineTransactional Business Intelligence (OTBI).
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. NWhat wil the typical transaction information be at the header level?
A. Line Type
B. Currency
C. Amount
D. Customer Number
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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions. How many ledgers are required to be set up?
A. Two primary ledgers
B. One primary ledger
C. One primary, one secondary ledger
D. One primary, one repotting currency ledger
What attribute of a subledger journal entry is NOT transferred to GL?
A. Accounting class
B. Accounting lines
C. Accounted amounts
D. Supporting references
Which transaction source is used to link transaction header and line information?
A. Transaction Key
B. Transaction Type
C. Transaction Date
D. Transaction Number
Which two options allow validating input values on mapping sets?
A. Segment values
B. Lookup types
C. Value sets
D. Chart of accounts segment
After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?
A. Add new transaction sources from the user interface.
B. Register another source system that includes these new transaction sources.
C. Tell them this cannot be implemented.
D. Add new transaction sources in the current source system registration spreadsheet andre-upload the spreadsheet file.
GGiven 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 pass the calculated value for discount amounts in accounting rules to the corresponding journal line?
A. Assign it to an accounting method.
B. Assign it to an account rule.
C. Assign it to a transaction type.
D. Assign it to an accounting attribute.
iven the business use case:'Insurances for Homes' company provides home insurance services. They have an inhouse built system that processes insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all Journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries. The line information may contain more than one line for the same header. When uploading transactions, which is a way to differentiate each Journal line?
A. Assign a custom formula.
B. Assign an accounting attribute.
C. You do not need to do anything additional.
D. Assign a line classification or line type attribute.
Which two actions can you accomplish for a registered source system?
A. Add new event classes through the user interface.
B. Modify the subledger application name as long as there are no pending accounting entries.
C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
D. Revise source Information through the user interface and add more sources.
