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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in a journal line rule to derive amounts.
B) Use a custom formula in a description rule to derive amounts.
C) Use a custom formula in a supporting reference to derive amounts.
D) Use a custom formula in an account rule to derive amounts.

2. After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?

A) an Oracle Transactional Business Intelligence analysis
B) an Oracle Financial Reporting Studio report
C) a Smart View Report
D) a predefined Oracle Business Intelligence Publisher report

3. 'Insurances for Homes' company provide home insurance service. They have in-house built system that processes home 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, be able to report and view the entries using an advanced reporting and analytical tools forslicing and dicing the Journal entries.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between twodates.

A) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
B) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
C) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)
D) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")

4. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A) The account rule is defined with conditions that are not allowing the assignment.
B) The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
C) The account rule is defined with a different chart of accounts from the journal entry rule set.
D) The account rule does not return any valid account value.

5. 'Insurances for Homes' company provide home insurance service. They have in house built system that processes home insurance payments received from customers. The end result of the process consists of a listing ofindividual 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, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the Journal entries.
Insurance premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

A) Accounting class
B) Recurring Journal class
C) Recognition Journal class
D) Multiperiod class

Solutions: