Free Oracle 1Z0-1060-21 Exam Dumps Questions & Answers

'Insurances for Homes' company provide home insuranceservice. 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 premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

• A.Offsets and Recognition
• B.Multiperiod and Recognition
• C.Deferral and Recognition
• D.Reversal and Recognition

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

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

Given the business requirement in the 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 sourcecode 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 are the key transaction types mentioned in the use case?

• A.Pay Insurance and Control Truck Services
• B.Purchase Trucks and Pay Out Trucks
• C.Purchase Trucks and Deploy Trucks
• D.Initiate Truck Rentals Contract and Pay Truck Maintenance

Which three duty roles are required to perform Accounting Hub setup tasks?

• A.Application Implementation Consultant
• B.Accounting Hub Administration
• C.Subledger Accounting Manager
• D.Accounting Hub Integration
• E.Accounting Hub Maintenance

Which two options allow validating input values on mapping sets?

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