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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

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

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

2. Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house 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 line classification or line type attribute.
B) You do not need to do anything additional.
C) Assign an accounting attribute.
D) Assign a custom formula.

3. Which is an alternate way to implement a mapping set rule?

A) Define a chart of account rule with conditions.
B) Define an account rule with conditions.
C) Define a lookup type rule with conditions.
D) Define a flexfield rule with conditions.

4. What is the terminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

A) Accounting Unit Commit Size
B) Virtual Machine Processing Size
C) Buffer Unit Size
D) Processing Unit Size

5. Which two options allow validating input values on mapping sets?

A) Segment values
B) Chart of accounts segment
C) Value sets
D) Lookup types

Solutions: