Free Oracle Accounting Hub Cloud 2024 Implementation Professional Exam 1Z0-1060-24 Exam Practice Test

Your client, a banking organization, has operations in the USA, the UK, France, Japan, and Singapore. As an implementation consultant, you ask the project team to maintain a global chart of accounts.However, the management team in the UK does not agree to allow the generation of dynamic code combinations for the chart of accounts values.What solution would you propose to address this scenario?

• Define one chart of accounts structure and enable dynamic inserts for the USA, France, Japan, and Singapore at the ledger options level, but disable it for the UK ledger
• Define two charts of accounts structures. Enable dynamic inserts for the first structure and disable it for the second one. Assign the first structure to the USA, France, Japan, and Singapore ledgers and the second structure to the UK ledger.
• Define one chart of accounts structure and disable dynamic inserts for the UK ledger by using the "Allow Dynamic Inserts" profile option
• Define two chart of accounts structure instances. Enable dynamic inserts for the first structure instance and disable it for the second one. Assign the first chart of accounts structure instance to the USA, France, Japan, and Singapore ledgers and the second chart of accounts structure instance to the UK ledger.

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?

• Lookup type
• Value set
• Segment
• Mapping set
• Account combination

You are tasked with identifying the reason for a user from your client organization not being able to submit the job that imports the transaction data for accounting and posting in General Ledger.You realize that a duty role needs to be associated with a job role for authorizing the access to import the accounting transactions process.Which duty role would you suggest?

• Accounting Hub Import Duty Role
• Accounting Hub Create and Post Journal Entry Duty Role
• Accounting Hub Create Accounting Duty Role
• Accounting Hub Integration Duty Role

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?

• Summarized Transaction type information cannot be sent for accounting transformation
• Use separate subledgers to share sub-ledger accounting rules
• Use separate subledgers to provide more security across applications
• A transaction type and its associated transaction data typically relate to a single document of transaction
• Use separate subledgers to ensure less data processing in each run

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 thesegment 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?

• Source
• Mapping set
• Constant
• Account combination
• Value set
• Account rule

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?

• Chart of Account and Currency
• Chart of Account and Convention
• Convention and Currency
• Chart of Accounts and Calendar
• Calendar and Currency

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?

• Select the value for a Functional Area.
• Select the value for a Feature
• Select the value for a Lookup Code
• Select the value for a Scope

Your customer is engaged in the business of distributing different types of loans to their customers. They need to generate dynamic descriptions for journal lines based on the type of interest rates. The two types of interest rates are adjustable and fixed.What would be your recommendation to the customer?

• Set up a single description rule with conditions defined for two priorities, one for adjustable rates and the other for fixed rates
• Define a separate journal entry rule set for each rate type
• Set up separate description rules for adjustable and fixed rates
• Set up separate journal line rules for adjustable and fixed rates

Your client, a banking organization, is currently using different transaction systems to take care of various 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.Now the customer has asked you to add another transaction type called Loan Interest Accrual Reversal.What should be your response to the customer?

• The source system should be registered again by including the Loan Interest Accrual Reversal event type.
• A new transaction type cannot be added after the source system is registered.
• Loan Interest Accrual Reversal can be added as a new event type from the user interface.
• Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.

What is NOT included in the minimum required accounting attribute assignments?

• Distribution Type
• Second Distribution Identifier
• Accounting Date
• First Distribution Identifier