Free 1z0-1060-25 Sample Questions and 100% Cover Real Exam Questions (Updated 84 Questions)
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NEW QUESTION # 38
You are implementing Accounting Hub Cloud for one of your clients. Your client has agreed to have six segments for the chart of accounts: Company, Line of Business, Account, Department, Product, and Intercompany.
For one of the journal line rules, your client requests you to assign a common account rule for Company, Line of Business, Account, and Intercompany. However, for Department and Product, they want to use segment- specific rules.
How will you achieve this while setting up the journal entry rule set?
- A. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method
- B. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while assigning the accounting method to the ledger
- C. Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section
- D. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references
Answer: C
NEW QUESTION # 39
Your client has operations in both the US and the UK, and they currently use a third-party billing system to process transactions like Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team of the Accounting Hub solution, and they request you to generate a dynamic description based on the following scenario:
"When Invoice Date is greater than or equal to 1st January 2018, concatenate Project Number and Invoice Number else concatenate Customer Name and Invoice Number." In which format would you enter the date in the user-defined formula to achieve this requirement?
- A. YY-MON-DD
- B. DD-MON-YY
- C. YYYY-MON-DD
- D. DD-MON-YYYY
Answer: C
NEW QUESTION # 40
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 provide more security across applications
- B. Use separate subledgers to ensure less data processing in each run
- C. A transaction type and its associated transaction data typically relate to a single document of transaction
- D. Use separate subledgers to share sub-ledger accounting rules
- E. Summarized Transaction type information cannot be sent for accounting transformation
Answer: A,B,C
NEW QUESTION # 41
Which TWO privileges are recommended while enabling Audit History on several key business objects?
- A. Audit Assignment Grade
- B. View Audit History
- C. Manage Audit Policies
- D. Manage Application Objects
Answer: B,C
NEW QUESTION # 42
Your client decides to:
* Configure a primary ledger for local statutory reporting requirements and a secondary ledger to manage alternative accounting requirements.
* Use Financial Reporting Studio to manage the financial reports that leverage the cube connections.
They are seeking your advice to understand the cubes that the system creates to store the balances for these two ledgers.
Based on which unique combination of ledger components are the cube connections generated?
- A. Chart of Account and Convention
- B. Calendar and Currency
- C. Convention and Currency
- D. Chart of Accounts and Calendar
- E. Chart of Account and Currency
Answer: D
NEW QUESTION # 43
Your client provides loans to their customers. You are appointed as a consultant to implement Accounting Hub Cloud and standardize the accounting process. Your client wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
Which FOUR value types should you use in the definition of your account rules to generate journal entries as per the customer's requirement?
- A. Account rule
- B. Value set
- C. Account combination
- D. Mapping set
- E. Source
- F. Constant
Answer: A,D,E,F
NEW QUESTION # 44
Which statement is true about journal entry rule sets?
- A. Description rules must carry the same chart of accounts that is attached to the 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 at both the header and the line level of a journal entry rule set
- D. Description rules can be assigned only at the header level of a journal entry rule set
Answer: C
NEW QUESTION # 45
Which four actions can you take by using Security Console?
- A. Compare Roles
- B. Manage Automatic Data Provisioning
- C. Create Roles
- D. Manage Data Access for Users
- E. Manage Password of Other Users
- F. Manage User Name Generation Rules and Password Policies
Answer: A,C,E,F
NEW QUESTION # 46
Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They decide to implement Accounting Hub to import their transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask for your suggestion about the sharing of accounting rules for these external systems.
Which implementation setup allows the sharing of accounting rules for all four external systems?
- A. One subledger for all four source systems
- B. Three subledgers; one for home loan and auto loan, second for consumer loan, and third for personal loan
- 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: A
NEW QUESTION # 47
Challenge 1: Manage Journal Line Rule
TASK
Create 2 Journal Line Rule
Interest Receivable
Interest Income
Subledger Application: AHC Loan
Process Category: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Answer:
Explanation:
See the Explanation below for all the solution.
Explanation:
To create Journal Line Rules (JLR) in Oracle Fusion, follow these step-by-step instructions:
Step 1: Navigate to the Manage Subledger Journal Entry Rule Sets Page
* Log in toOracle Fusion Applicationswith a user that has privileges to configureSubledger Accounting Rules.
* Go toSetup and Maintenance.
* In theFunctional Setup Manager (FSM), select:
* Financials
* Subledger Accounting
* Manage Journal Line Rules
Step 2: Create the "Interest Receivable" Journal Line Rule
* ClickCreateto add a new Journal Line Rule.
* Enter the following details:
* Name: Interest Receivable
* Subledger Application:AHC Loan
* Event Class:AHC Loan
* Event Type:Loan Origination, Interest Accrual, Payment
* Account Class: (Choose the appropriate account class, such as "Receivable" or a custom account class)
* Line Type: Debit
* Description: (Optional, enter something like "Recognizes interest receivable")
* UnderConditions, define rules if needed to filter transactions for this Journal Line Rule.
* Save and Close.
Step 3: Create the "Interest Income" Journal Line Rule
* ClickCreateagain to add the second Journal Line Rule.
* Enter the following details:
* Name: Interest Income
* Subledger Application:AHC Loan
* Event Class:AHC Loan
* Event Type:Loan Origination, Interest Accrual, Payment
* Account Class: (Choose an appropriate account class, such as "Revenue" or a custom account class)
* Line Type: Credit
* Description: (Optional, enter something like "Recognizes interest income")
* UnderConditions, define rules if needed to filter transactions for this Journal Line Rule.
* Save and Close.
Step 4: Validate and Deploy the Rules
* Navigate toManage Accounting Methods.
* Find the accounting method used for theAHC Loansubledger.
* Attach the newly createdJournal Line Rulesto the appropriateJournal Entry Rule Set.
* Validate the changes and submit them for approval.
* Once validated, deploy the accounting method.
Step 5: Test the Journal Line Rules
* Navigate toSubledger Accounting > Accounting Entries.
* Generate accounting for a testLoan Origination, Interest Accrual, or Paymenttransaction.
* Verify that the correct Journal Entries are created:
* Interest Receivable (DR)
* Interest Income (CR)
NEW QUESTION # 48
Your client has implemented the Accounting Hub Cloud solution. They import their transaction data from the source system on a daily basis, and while doing so, some transactions are not being accounted properly. They want these invalid transactions purged and the correct transactions re-imported.
Which job would you submit to purge the invalid transactions?
- A. Import Accounting Transactions Job with Purge Invalid Transaction parameter set to "Yes"
- B. Set Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions
- C. Purge Invalid and Unaccounted Accounting Hub Transactions Job
- D. Purge Accounting Hub Transactions Job
Answer: B
NEW QUESTION # 49
You recently created an analysis to review the periodic revenue amounts using Smart View. Your customer wants to use the drill-through option to get more details about the balances appearing in the analysis.
Which TWO drill-through options would meet the requirement?
- A. Drill to Detail Balances
- B. Drill to Account Group
- C. Drill to Account Inspector
- D. Drill to Financial Reporting Center
Answer: A,C
NEW QUESTION # 50
Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?
- A. General Accountant
- B. Chief Financial Officer (CFO)
- C. Financial Analyst
- D. General Accounting Manager
Answer: D
NEW QUESTION # 51
Your client is involved in the sale of health, vehicle, and home insurance services. Currently, they process their transactions in a source system. You have been appointed as a consultant to implement Accounting Hub Cloud and standardize their accounting process. You decide to register their source system as a single application in Accounting Hub Cloud.
How many event classes will be generated by the system while registering the source system?
- A. Four
- B. Two
- C. One
- D. Three
Answer: C
NEW QUESTION # 52
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. Transaction objects
- B. Mapping sets
- C. Source objects
- D. Event entities
Answer: A
NEW QUESTION # 53
Your client provides loans to its customers. You are appointed as a consultant to implement Accounting Hub Cloud and standardize the accounting process. Your client needs to retrieve the segment values for the debit and credit side of journal entries based on different criteria. You decide to set up three account rules to achieve this requirement.
Which THREE rule types are available for building account rules?
- A. Value set
- B. Lookup type
- C. Segment
- D. Mapping set
- E. Account combination
Answer: C,D,E
NEW QUESTION # 54
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 "Number" 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 "Long Text" type source
Answer: B,C
NEW QUESTION # 55
You are designing an income statement report with the help of Financial Reporting 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][3,5][3,5]
- B. [3:5][3:5][3:5]
- C. 3:5{3:5}3:5
- D. [3;5][3;5][3;5]
Answer: B
NEW QUESTION # 56
The cloud client wants to drive an efficient transfer of accounting entries between Subledger Accounting and their General Ledgers. Hence, they are skipping the Post Subledger Journal Entries and Journal Import processes.
Under what three conditions are the improvements to transfer of Subledger Accounting entries to General Ledger enhancement ignored?
- A. When online accounting is submitted from the transaction pages
- B. When the Create Accounting process is submitted in Final and Post modes
- C. When the Multiperiod Accounting process is submitted
- D. When accounting is transferred outside of Fusion General Ledger
Answer: A,B,C
NEW QUESTION # 57
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