1z0-1060-24 Dumps - Grab Out For [NEW-2025] Oracle Exam
1z0-1060-24 Exam Dumps PDF Guaranteed Success with Accurate & Updated Questions
Oracle 1z0-1060-24 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
NEW QUESTION # 26
Which two options can you use to reconcile subledger journal entries with the source system?
- A. Create and submit the Oracle Transactional BI Report to review supporting reference balances.
- B. Submit the Subledger Accounting Diagnostics report
- C. Tag supporting references with Journal Line Rules
- D. Submit the Period Close Exception Report
Answer: B,D
NEW QUESTION # 27
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 Financial Reporting Center
- B. Drill to Detail Balances
- C. Drill to Account Inspector
- D. Drill to Account Group
Answer: B,C
NEW QUESTION # 28
SIMULATION
Challenge 3: Manage User Define Formulas
TASK
Create User Defined Formula for Admin Charges
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement
Answer:
Explanation:
See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create a User Defined Formula for Admin Charges in Oracle Fusion Step 1: Navigate to Manage User Defined Formulas Log in to Oracle Fusion with privileges to configure Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage User Defined Formulas.
Step 2: Create a New User Defined Formula
Click Create to define a new formula.
Enter the following details:
Name: Admin Charges Formula
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement Data Type: Number Description: Formula to calculate admin charges for billing events.
Click Save, then proceed to define the logic.
Step 3: Define the Formula Logic
Example Formula for Admin Charges:
Assume Admin Charges are calculated as 5% of Transaction Amount, with a minimum charge of $10.
Enter the formula using Oracle's formula syntax:
CASE
WHEN {Transaction Amount} * 0.05 >= 10 THEN {Transaction Amount} * 0.05 ELSE 10 END Click Validate to check for errors.
Step 4: Assign the Formula to the Required Accounting Rules
Navigate to Manage Account Rules.
Find the Admin Charges Account Rule (or create one if needed).
In the Condition Definition, select User Defined Formula as the Source.
Choose Admin Charges Formula as the value.
Click Save and Close.
Step 5: Validate and Deploy the Formula
Click Validate to ensure correctness.
Deploy the formula by submitting the changes.
Attach the formula to relevant Journal Entry Rule Sets (if applicable).
Step 6: Test the User Defined Formula
Navigate to Subledger Accounting > Accounting Entries.
Generate accounting for different test transactions:
Example 1: If Transaction Amount = $500, Admin Charges = $25 (5% of 500).
Example 2: If Transaction Amount = $100, Admin Charges = $10 (since 5% of 100 = $5, but the minimum is $10).
Verify that the Admin Charges are correctly derived in accounting entries.
NEW QUESTION # 29
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: C
NEW QUESTION # 30
Your client has operations in both the US and the UK. They currently use a third-party billing system to process transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team for the Accounting Hub solution. Your client wants to retrieve chart of accounts values for the line of business segment based on customer classification.
You decide to use the mapping sets functionality to fulfill this requirement.
Which THREE statements are true about using mapping sets?
- A. One mapping set can be used for only one account rule at a time
- B. You can define a default output value to use when actual input values do not match the mappings
- C. You can use up to 10 transaction or reference attributes as input in a mapping
- D. Mapping sets are unique to each sub-ledger application, in order to know which input sources to make available.
- E. The mappings can be entered only by using the user interface
Answer: B,C,D
NEW QUESTION # 31
Your client is involved in the sale of health, vehicle, and home insurance services. Currently, they are processing transactions in a source system, and you have been appointed as a consultant to implement Oracle Cloud Accounting Hub to standardize the accounting process. You have decided to register the source system as a single application in Accounting Hub.
How many event classes will be generated by the system while registering the source system?
- A. One
- B. Three
- C. Four
- D. Two
Answer: A
NEW QUESTION # 32
Which statement is true about journal entry rule sets?
- A. Description rules can be assigned at both the header and the line level of a 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 only at the line level of a journal entry rule set.
Answer: A
NEW QUESTION # 33
You are implementing the Oracle Fusion Cloud Financial Accounting Hub (FAH) service for three legacy Receivables systems. As part of your FAH implementation project, the customer requests that general ledger journals be summarized to keep a thin general ledger as billing in the three source systems is per delivery.
Which two options can be used in FAH to create the requested general ledger journals?
- A. Group by general ledger period
- B. Group by general ledger date
- C. Summarize by general ledger date
- D. Summarize by journal source
- E. Summarize by general ledger period
- F. Summarize by journal category
Answer: C,E
NEW QUESTION # 34
You are trying to explain to an accountant that account override is an adjustment feature of Subledger Accounting.
Which TWO traits can help you further explain this feature?
- A. It provides an audit trail by preserving the original subledger journal entry
- B. It allows users to record a reason for the adjustment
- C. It adjusts the original source transaction
- D. It is intended to correct only the subledger journals that have been posted
Answer: A,B
NEW QUESTION # 35
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?
- A. A new transaction type cannot be added after the source system is registered.
- B. Loan Interest Accrual Reversal can be added as a new event type from the user interface.
- C. Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.
- D. The source system should be registered again by including the Loan Interest Accrual Reversal event type.
Answer: B
NEW QUESTION # 36
Your customer wants to be alerted to changes in the balances of their key General Ledger accounts on a regular basis and asks your advice on the best reporting option.
Which reporting tool would you suggest?
- A. Account Groups and Sunburst
- B. Oracle Transactional Business Intelligence
- C. Smart View
- D. Financial Reporting Studio
Answer: A
NEW QUESTION # 37
Your client has operations in the US and the UK, and they currently use a third-party billing system to process their transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. As part of the Accounting Hub implementation, you have been asked to register the billing source system.
While registering the source system using the spreadsheet template, which TWO could be flagged as errors by the validation check process?
- A. The event type name cannot exceed 30 characters
- B. You cannot add more than 30 sources when the Journal Display column is enabled
- C. The event type name cannot exceed 25 characters
- D. You cannot add more than 10 sources when the Journal Display column is enabled
Answer: C,D
NEW QUESTION # 38
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 Trucks" 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. "New Trucks" and "Fix Trucks" are located in the same country and share a chart of accounts and accounting conventions.
How many ledgers are required to be set up?
- A. One primary, one reporting currency ledger
- B. One primary ledger
- C. One primary, one secondary ledger
- D. Two primary ledgers
Answer: B
NEW QUESTION # 39
Your client, a banking organization, is currently using different transaction systems for different 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.
The customer now asks you to add another transaction type called Loan Interest Accrual Reversal.
What should be your response to the customer?
- A. Loan Interest Accrual Reversal can be added as a new event type from the user interface
- B. Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template
- C. The source system should be registered again by including the Loan Interest Accrual Reversal event type
- D. A new transaction type cannot be added after the source system is registered
Answer: A
NEW QUESTION # 40
Which FOUR actions can you perform with the help of the Security Console?
- A. Compare Roles
- B. Manage Automatic Data Provisioning
- C. Manage User Name Generation Rules and Password Policies
- D. Manage Password of other Users
- E. Manage Data Access for Users
- F. Create Roles
Answer: A,C,D,F
NEW QUESTION # 41
While creating an accounting method, you are unable to select a journal entry rule set for a combination of event class and event type.
What could be the reason for this issue?
- A. Supporting references assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
- B. Journal line rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
- C. The accounting method is either not attached to any chart of accounts or is attached to another chart of accounts than the journal entry rule set
- D. Description rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
Answer: C
NEW QUESTION # 42
Which is an alternate way to implement a mapping set rule?
- A. Define a lookup type rule with conditions
- B. Define a flexfield rule with conditions
- C. Define a chart of account rule with conditions
- D. Define an account rule with conditions
Answer: D
NEW QUESTION # 43
You are tasked with troubleshooting a Create Accounting error.
What is the first step you need to take to use the Diagnostics Framework features?
- A. Run Create Accounting again to generate journal entries for the events that ended in error
- B. Set the "SLA: Enable Diagnostic" profile option
- C. Run the Accounting Events Diagnostic report
- D. Submit the Accounting Event Diagnostics process
Answer: B
NEW QUESTION # 44
Which two conditions must be met for automatic data provisioning to work?
- A. At least one of the user's assignments matches all data-mapping conditions in a data provisioning rule.
- B. At least one role is automatically provisioned to the user using role provisioning rules.
- C. The data provisioning rule has at least one job, one position, and one inventory organization assigned to it.
Answer: A,B
NEW QUESTION # 45
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 supporting references
- B. Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section
- C. 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
- D. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method
Answer: B
NEW QUESTION # 46
SIMULATION
Challenge 2: Manage Account Rule
TASK
Create Account Rule with 3 priorities
Name of Account Rule: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement
Answer:
Explanation:
See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create an Account Rule with 3 Priorities in Oracle Fusion Step 1: Navigate to Manage Account Rules Log in to Oracle Fusion with appropriate privileges for Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage Account Rules.
Step 2: Create the Account Rule
Click Create to add a new Account Rule.
Enter the following details:
Name: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement Rule Type: Account Click Save, then proceed to define Priorities.
Step 3: Define Three Priorities for the Revenue Account Rule
Now, define three priorities for determining the revenue account:
Priority 1: Derived from Transaction Type
Click Add Row to define Priority 1.
Set Priority Order as 1.
Define Condition:
If Transaction Type = "Customer Billing", then Account = 4000 (Revenue Account) Source Type: Use Transaction Type as the basis.
Click Save.
Priority 2: Derived from Customer
Click Add Row to define Priority 2.
Set Priority Order as 2.
Define Condition:
If Customer Category = "Wholesale", then Account = 4010 (Wholesale Revenue) Source Type: Use Customer Category as the basis.
Click Save.
Priority 3: Default Revenue Account
Click Add Row to define Priority 3.
Set Priority Order as 3.
Define Condition:
Default Revenue Account = 4999 (for any other transactions)
Source Type: Use Constant Value.
Click Save.
Step 4: Validate and Assign the Account Rule
Click Validate to ensure the rule has no errors.
Navigate to Manage Journal Entry Rule Sets.
Locate the AHC Billing Journal Entry Rule Set.
Assign the newly created Revenue Account Rule to the appropriate Journal Line Rule (such as Revenue or Income).
Click Save and Close.
Step 5: Test the Account Rule
Go to Subledger Accounting > Accounting Entries.
Generate accounting for different transactions:
Customer Billing should derive Account 4000.
Wholesale Customer Billing should derive Account 4010.
Other transactions should derive Account 4999.
Review and confirm that the correct accounts are assigned.
NEW QUESTION # 47
Your client organization deals in providing loans to its customers. You are appointed as a consultant to implement Oracle Fusion Cloud Accounting Hub to standardize the accounting process. Your client has a requirement to retrieve the segment values for the debit and credit side of journal entries based on different criteri a. You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as the input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which two options allow the validation of input values on mapping sets?
- A. Lookup types
- B. Value sets
- C. Chart of accounts segment
- D. Segment values
Answer: A,B
NEW QUESTION # 48
Which transaction source is used to link transaction header and line information?
- A. Transaction Number
- B. Transaction Type
- C. Transaction Date
- D. Transaction Key
Answer: A
NEW QUESTION # 49
Your client decides to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.
Which of the following THREE are predefined accounting methods?
- A. Standard Accrual for Japan
- B. Standard Accrual with Encumbrances
- C. Standard Accrual
- D. Standard Accrual for China
- E. Standard Accrual for USA
Answer: B,C,D
NEW QUESTION # 50
The Unified Migration option helps move functional setup data from one instance to another.
Which TWO statements are true about Unified Migration?
- A. You can optionally migrate only the new changes if both environments are synchronized
- B. The Unified Migration option requires registration of the target environment in the source environment
- C. You need to manually download the configuration set from the source and manually upload it into the target
- D. There is no need to import the migration set into a sandbox instance before it is applied to the target environment
Answer: A,B
NEW QUESTION # 51
......
Get New 1z0-1060-24 Certification Practice Test Questions Exam Dumps: https://prep4sure.examtorrent.com/1z0-1060-24-exam-papers.html
