Oracle 1Z1-1060 Exam : Oracle Accounting Hub Cloud 2019 Implementation Essentials

'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. Accounting class
• B. Recurring Journal class
• C. Recognition Journal class
• D. Multiperiod class

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. Create a Smart View report using the query designer feature.
• B. Use either Account Monitor or Account Inspector to get required Information.
• C. Build a Financial Reporting Studio report that includes all dimensions.
• D. Build an OTBI analysis that includes a relevant subject area.

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.
What do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

• A. Enable chart of accounts rule
• B. Enable legal entity rule
• C. Enable balancing rules
• D. Enable intercompany balancing option

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 Journal line?

• A. Assign an accounting attribute.
• B. Assign a custom formula.
• C. Assign a line classification or line type attribute.
• D. You do not need to do anything additional.

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

• A. Modify the subledger application name as long as there are no pending accounting entries.
• B. Add new event classes through the user interface.
• C. Revise source Information through the user interface and add more sources.
• D. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.