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Note! 1z0-1060-22 has been withdrawn. The new exam code is 1z0-1060-23

1z0-1060-22 Practice Exam Questions with Answers Oracle Accounting Hub Cloud 2022 Implementation Professional Certification

Question # 6

'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 ofindividual 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

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Question # 7

A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.

How can you meet this requirement?

A.

Use either Account Monitor or Account Inspector to getrequired Information.

B.

Build a Financial Reporting Studio report that includes all dimensions.

C.

Build an OTBI analysis that includes a relevant subject area.

D.

Create a Smart View report using the query designer feature.

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Question # 8

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 OTBIreport.

F.

Run the Subledger Accounting Diagnostics report.

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Question # 9

Which role combines the functional privilege for an individual task or duty with the relevant data security policies?

A.

Abstract Roles

B.

Data Role

C.

Duty Role

D.

Aggregate Privilege

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Question # 10

Given the business use case:

'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.

The line information may contain more than one line for the same header.

When uploading transactions, which is a way to differentiate each Journalline?

A.

Assign a custom formula.

B.

Assign an accounting attribute.

C.

You do not need to do anything additional.

D.

Assign a line classification or line type attribute.

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Question # 11

What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A.

transfer Balances to FAH Reporting Cloud Service

B.

synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service

C.

upload transaction data into FAH Reporting Cloud Service

D.

provide real-time visibility to financial reports inFAH Reporting Cloud Service

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Question # 12

How many transaction eventclasses can be set up for a subledger uploaded to Accounting Hub Cloud?

A.

Two

B.

One

C.

Three

D.

Unlimited

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Question # 13

You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.

Which two traits can help you explain this feature?

A.

The account override feature provides an audit trail by preserving the original subledger journal entry.

B.

The account override feature adjusts the original source transaction.

C.

The account override feature is only intended to correct subledger journals that have been posted.

D.

The account override feature allows users to record a reason for the adjustment.

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