The Far Out Guide To 1z0-1060-20 Test Preparation

NEW QUESTION 1
What is the required date format used to import accounting transactions to Accounting Hub Cloud?

• A. The user can customize the date format
• B. MM-DD-YYYY
• C. DD-MON-YYYY
• D. YYYY-MM-DD

Answer: D

NEW QUESTION 2
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

Answer: A

NEW QUESTION 3
How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?

• A. Two
• B. One
• C. Three
• D. Unlimited

Answer: B

NEW QUESTION 4
You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?

• A. Set the "SLA: Diagnostics Enabled" profile option.
• B. Run Create Accounting again to generate journal entries for the events that ended in error.
• C. Submit the Accounting Event Diagnostics process.
• D. Run the Accounting Events Diagnostic Report.

Answer: A

NEW QUESTION 5
In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?

• A. Use a custom formula in an account rule to derive amounts.
• B. Use a custom formula in a description rule to derive amounts.
• C. Use a custom formula in a journal line rule to derive amounts.
• D. Use a custom formula in a supporting reference to derive amounts.

Answer: C

NEW QUESTION 6
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?

• A. Summarize by GL Date
• B. Summarize by GL Period
• C. Group by GL Date
• D. Transfer in Details

Answer: C

NEW QUESTION 7
You are explaining to an accountant that account override is an adjustment feature of 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.

Answer: AD

NEW QUESTION 8
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 would the typical line information be?

• A. Customer Number
• B. Truck Type
• C. Company
• D. Transaction Date

Answer: B

NEW QUESTION 9
What is a user job role data context assignment?

• A. Security privileges assignment to a user job role
• B. Security data role context assignment to a user job role
• C. Security data access context assignment to a user job role
• D. Duty role context assignment to a user

Answer: C

NEW QUESTION 10
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?

• A. Conversion type and conversion date
• B. Conversion type, conversion date and conversion rate
• C. Conversion date and conversion rate
• D. Conversion type

Answer: C

NEW QUESTION 11
Which two options allow validating input values on mapping sets?

• A. Segment values
• B. Lookup types
• C. Value sets
• D. Chart of accounts segment

Answer: BC

NEW QUESTION 12
You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?

• A. The rule is built using a value set source.
• B. The source does not return any value; therefore the rule is not displayed.
• C. The rule is built using a line level source.
• D. The rule is built using a custom source.

Answer: C

NEW QUESTION 13
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

Answer: D

NEW QUESTION 14
Given the journal:

What is the terminology that is used to identify the "Account Number', 'Original Balance' , and 'Origination Date' fields?

• A. User Transaction Identifier
• B. Attribute Identifier
• C. Source System Identifier
• D. System Identifier

Answer: B

NEW QUESTION 15
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

• A. Reporting Sequence
• B. Accounting Sequence
• C. Journal Entry Sequence
• D. Document Sequence

Answer: B

NEW QUESTION 16
What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

• A. Accounting Hub Create Accounting Duty Role
• B. Accounting Hub Import Duty Role
• C. Accounting Hub Integration Duty Role
• D. Accounting Hub Create and Post Journal Entry Duty Role

Answer: C

NEW QUESTION 17
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