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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 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. Themajority 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 a transaction type.
C) Assign it to an accounting attribute.
D) Assign it to an account rule.

2. What is NOT included in the minimum required accountingattribute assignments?

A) First Distribution Identifier
B) Distribution Type
C) Accounting Date
D) Second Distribution Identifier

3. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

A) Accounting Hub Import Duty Role
B) Accounting Hub Create Accounting Duty Role
C) Accounting Hub Create and Post Journal Entry Duty Role
D) Accounting HubIntegration Duty Role

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

5. You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?

A) The rule is built using a value set source.
B) The source does not return any value; therefore the rule is not displayed.
C) The rule is built using a line level source.
D) The rule is built using a custom source.

Solutions: