1Z0-1060-22 Online Practice Questions and Answers

Invoices received from a source system need to use 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?

A. Create a 30 account combination rule with a condition of expense type.

B. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.

C. Create two journal line rules with a condition of supplier type.

D. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.

What is the terminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

A. Virtual Machine Processing Size

B. Accounting Unit Commit Size

C. Buffer Unit Size

D. Processing Unit Size

You need to build a complex account rule. Which four value types can you use in your definition?

A. Value Set

B. Constant

C. Existing Account Rule

D. Account Combination

E. Mapping Set

F. Source

What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?

A. Transaction objects

B. Event entities

C. Source objects

D. Mapping sets

Which is used to track a specific transaction attribute on subledger journal entries?

A. value set rules

B. lookup value rules

C. supporting references

D. account rules

A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.

What is the solution to implement this requirement quickly?

A. Build a new data warehouse solution.

B. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.

C. Request support team to download subledger Journal entry data.

D. Run predefined reports and filter the report with the available report parameters.

Which two actions can you accomplish for a registered source system?

A. Add new event classes through the user interface.

B. Modify the subledger application name as long as there are no pending accounting entries.

C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.

D. Revise source Information through the user interface and add more sources.

'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 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. Recognition Journal class

B. Recurring Journal class

C. Accounting class

D. Multiperiod class

Which four options are used to reconcile subledger journal entries?

A. Set up reconciliation using the reconciliation reference accounting attribute.

B. Assign a descriptive text and source on journal lines.

C. Run the Subledger Accounting Method Setups report.

D. Tag supporting references with journal entry lines.

E. Build a custom OTBI report.

F. Run the Subledger Accounting Diagnostics report.

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 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 set up an account rule that is based on leased and owned trucks?

A. Set up a mapping set rule.

B. Set up a lookup value.

C. Set up a value set rule.

D. Set up an account source in the source system file and derive the value.