Oracle 1Z0-1060-21 Dumps Updated Nov 09, 2022 WIith 62 Questions [Q29-Q52]

NO.29 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?

NO.30 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?

NO.31 What attribute of a subledger journal entry is NOT transferred to GL?

NO.32 A customer’s business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General LedgerJournal Entry Summarization options meets this requirement?

NO.33 What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

NO.34 What is a user job role data context assignment?

NO.35 Which two actions can you accomplish for a registered source system?

NO.36 What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

NO.37 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 inthe 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, ‘NewTrucks’ needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?

NO.38 Given the journal:

What is the terminology that is used to identify the “Account Number’, ‘Original Balance’ ,and ‘Origination Date’ fields?

NO.39 Which three are mandatory transaction source information?

NO.40 You need to build a complex account rule. Which four value typescanyou use in yourdefinition?

NO.41 Which two options allow validating input values on mapping sets?

NO.42 Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

NO.43 What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?

NO.44 Invoices received from a source system need touse a specific account based on 30 different expense types.
However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?

NO.45 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 sourcecode 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?

NO.46 A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value thatmaps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

NO.47 There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on theentered amounts for the line.
What is the solution to implement this requirement?

NO.48 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?

NO.49 Given the subledger journal entry:

Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?

NO.50 What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

NO.51 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?

NO.52 What can you override in a completed subledger journal entry?