1z0-1060-24 Exam Practice Questions prepared by Oracle Professionals
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NEW QUESTION # 17
Which TWO options can you use for reconciling subledger journal entries with the source system?
- A. Submit Period Close Exception Report
- B. Submit the Subledger Accounting Diagnostics report
- C. Tag supporting references with Journal Line Rules
- D. Submit the Subledger Accounting Diagnostics report
Answer: A,B
NEW QUESTION # 18
Which statement is true about journal entry rule sets?
- A. Description rules can be assigned at both the header and the line level of a journal entry rule set.
- B. Description rules can be assigned only at the header level of a journal entry rule set.
- C. Description rules can be assigned only at the line level of a journal entry rule set.
Answer: A
NEW QUESTION # 19
Your client, a banking organization, is currently using different transaction systems for different types of loans including vehicle loans, personal loans, education loans, and housing loans. You recently uploaded the source system data that includes Loan Origination, Loan Interest Accrual, Loan Scheduled Payment, Loan Interest Adjusted, Loan Late Payment, and Loan Charge off as event types.
The customer now asks you to add another transaction type called Loan Interest Accrual Reversal.
What should be your response to the customer?
- A. A new transaction type cannot be added after the source system is registered
- B. Loan Interest Accrual Reversal can be added as a new event type from the user interface
- C. Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template
- D. The source system should be registered again by including the Loan Interest Accrual Reversal event type
Answer: B
NEW QUESTION # 20
A banking organization is currently using different transaction systems for various types of loans, including vehicle loans, personal loans, education loans, and housing loans. You have been appointed as a consultant to implement Accounting Hub Cloud.
Which THREE points should you remember while registering the source system for the organization?
- A. Use separate subledgers to ensure less data processing in each run
- B. A transaction type and its associated transaction data typically relate to a single document of transaction
- C. Use separate subledgers to share sub-ledger accounting rules
- D. Use separate subledgers to provide more security across applications
- E. Summarized Transaction type information cannot be sent for accounting transformation
Answer: A,B,D
NEW QUESTION # 21
Your client provides loans to its customers. You are appointed as a consultant to implement Accounting Hub Cloud to standardize the accounting process. Your customer wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as an input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which TWO options allow the validation of input values on mapping sets?
- A. Value sets
- B. Lookup types
- C. Chart of accounts segment
- D. Segment values
Answer: A,B
NEW QUESTION # 22
You are implementing the Oracle Fusion Cloud Financial Accounting Hub (FAH) service for three legacy Receivables systems. As part of your FAH implementation project, the customer requests that general ledger journals be summarized to keep a thin general ledger as billing in the three source systems is per delivery.
Which two options can be used in FAH to create the requested general ledger journals?
- A. Group by general ledger period
- B. Summarize by journal category
- C. Summarize by journal source
- D. Group by general ledger date
- E. Summarize by general ledger period
- F. Summarize by general ledger date
Answer: E,F
NEW QUESTION # 23
Your client is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep, in their source system. They want to retrieve the value of the Natural Account segment directly from the source system and are seeking your advice on this requirement.
Which TWO should you factor into your advice on how to register the source system using the spreadsheet template to meet your client requirement?
- A. Natural Account should be defined as a "Long Text" type source
- B. Natural Account should be defined as a "Text" type source
- C. Chart of Accounts Value column should be updated with a value of "Yes"
- D. Natural Account should be defined as a "Number" type source
Answer: B,C
NEW QUESTION # 24
To create journal entries, the Create Accounting process takes source data used in accounting rules from tables or views.
What are the tables or views called?
- A. Event entities
- B. Source objects
- C. Mapping sets
- D. Transaction objects
Answer: D
NEW QUESTION # 25
A manual subledger journal did not reverse. What could be the reason for this?
- A. The next accounting period was future-enterable
- B. The next accounting period was open
- C. The Reverse Accrual On field was left null
- D. The Create Accrual Reversal Accounting process had run and completed with no errors
Answer: C
NEW QUESTION # 26
You design an income statement report with the help of Financial Reporting Web Studio. You add row numbers 3, 4, and 5 to reflect the balances for three different expense accounts and row number 6 to reflect the sum of row numbers 3, 4, and 5.
Which formula should be used on row number 6 to calculate the sum?
- A. ([3:5])
- B. ([3;5])
- C. ([3,5])
- D. ({3:5})
Answer: A
NEW QUESTION # 27
Which duty role is required to authorize access to the import accounting transactions process?
- A. Accounting Hub Create Accounting duty role
- B. Accounting Hub Import duty role
- C. Accounting Hub Create and Post Journal Entry duty role
- D. Accounting Hub Integration duty role
Answer: D
NEW QUESTION # 28
Which four actions can you take by using Security Console?
- A. Manage User Name Generation Rules and Password Policies
- B. Create Roles
- C. Manage Data Access for Users
- D. Manage Password of Other Users
- E. Manage Automatic Data Provisioning
- F. Compare Roles
Answer: A,B,D,F
NEW QUESTION # 29
Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems.
Which implementation setup allows the sharing of accounting rules for all four external systems?
- A. Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan
- B. One subledger for all four source systems
- C. Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan
- D. Four subledgers, one for each source system
Answer: B
NEW QUESTION # 30
Your client has decided to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.
Which three are the predefined accounting methods?
- A. Standard Accrual with Encumbrances
- B. Standard Accrual
- C. Standard Accrual for USA
- D. Standard Accrual for China
- E. Standard Accrual for Japan
Answer: A,B,E
NEW QUESTION # 31
In Functional Setup Manager, if setup data is segmented by a specific context, you can perform the setup task iteratively, such as assigning different ledger options to different primary ledgers.
Which action should you take to specify the context?
- A. Select the value for a Functional Area.
- B. Select the value for a Scope
- C. Select the value for a Lookup Code
- D. Select the value for a Feature
Answer: B
NEW QUESTION # 32
Your client organization deals in providing loans to its customers. You are appointed as a consultant to implement Oracle Fusion Cloud Accounting Hub to standardize the accounting process. Your client has a requirement to retrieve the segment values for the debit and credit side of journal entries based on different criteri a. You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as the input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which two options allow the validation of input values on mapping sets?
- A. Value sets
- B. Lookup types
- C. Chart of accounts segment
- D. Segment values
Answer: A,B
NEW QUESTION # 33
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