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Oracle 1Z0-1060-21 Exam Overview:

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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

Question 1

Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?

A. Manage Accounting Attribute Assignments
B. Manage Subledger Accounting Options
C. Manage Reporting Currencies
D. Specify Ledger Options

Question 2

Given the journal:

What is the terminology that is used to identify the "Account Number', 'Original Balance' ,and 'Origination Date' fields?

A. User Transaction Identifier
B. Attribute Identifier
C. Source System Identifier
D. System Identifier

Question 3

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. Two primary ledgers
C. One primary, one secondary ledger
D. One primary ledger

Question 4

Given the subledger journal entry:

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

A. It is notbalanced by balancing segment.
B. It appears correct.
C. It is not balanced by entered currency.
D. It is not balanced by entered amounts.

Question 5

Given the business requirement in the 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 sourcecode 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.
What are the key transaction types mentioned in the use case?

A. Initiate Truck Rentals Contract and Pay Truck Maintenance
B. Pay Insurance and Control Truck Services
C. Purchase Trucks and Pay Out Trucks
D. Purchase Trucks and Deploy Trucks

Solutions: