1Z0-1060-21 Exam Dumps Pass with Updated Jun-2022 Tests Dumps [Q23-Q44]

Diesen Beitrag bewerten

1Z0-1060-21 Exam Dumps Pass with Updated Jun-2022 Tests Dumps

1Z0-1060-21 exam questions for practice in 2022 Updated 62 Questions

NEUE FRAGE 23
How many transaction eventclasses can be set up for a subledger uploaded to Accounting Hub Cloud?

Two

One

Three

Unbegrenzt

NEUE FRAGE 24
You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.
Which two traits can help you explain this feature?

The account override feature provides an audit trail by preserving the original subledger journal entry.

The account override feature adjusts the original source transaction.

The account override feature is only intended to correct subledger journals that have been posted.

The account override feature allows users to record a reason for the adjustment.

NEUE FRAGE 25
What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?

Reporting Sequence

Accounting Sequence

Journal Entry Sequence

Document Sequence

NEUE FRAGE 26
What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

Virtual Machine Processing Size

Accounting Unit Commit Size

Buffer Unit Size

Processing Unit Size

NEUE FRAGE 27
Which transaction source is used to link transaction header and line information?

Transaction Key

Transaction Type

Transaction Date

Transaction Number

NEUE FRAGE 28
What can you override in a completed subledger journal entry?

the amounts

the descriptions

the account

the supporting Information

NEUE FRAGE 29
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

Journal Entry

Journal Entry Rule Set

Event Class

Journal Line Rule

Event Type

NEUE FRAGE 30
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?

Set the “SLA: Diagnostics Enabled” profile option.

Run Create Accounting again to generate journal entries for the events that ended in error.

Submit the Accounting Event Diagnostics process.

Run the Accounting Events DiagnosticReport.

NEUE FRAGE 31
Which is used to track a specific transaction attribute on subledger journal entries?

value set rules

lookup value rules

supporting references

account rules

NEUE FRAGE 32
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?

Pay Insurance and Control Truck Services

Initiate Truck Rentals Contract and Pay Truck Maintenance

Purchase Trucks and Deploy Trucks

Purchase Trucks and Pay Out Trucks

NEUE FRAGE 33
Given the subledger journal entry:

Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?

It is notbalanced by balancing segment.

It is not balanced by entered currency.

It is not balanced by entered amounts.

It appears correct.

NEUE FRAGE 34
Which four options are used to reconcile subledger journal entries?

Set up reconciliation using the reconciliation reference accounting attribute.

Assign a descriptive text and source on journal lines.

Run the Subledger Accounting Method Setups report.

Tag supporting references with journal entry lines.

Build a custom OTBIreport.

Run the Subledger Accounting Diagnostics report.

NEUE FRAGE 35
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?

Use either Account Monitor or Account Inspector to getrequired Information.

Build a Financial Reporting Studio report that includes all dimensions.

Build an OTBI analysis that includes a relevant subject area.

Create a Smart View report using the query designer feature.

NEUE FRAGE 36
How do you enable diagnostics on subledger transaction sources?

enable diagnostic profile

enable diagnostic attribute

enable diagnostic source

enable transaction debug

NEUE FRAGE 37
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 Journalline?

Assign a custom formula.

Assign an accounting attribute.

You do not need to do anything additional.

Assign a line classification or line type attribute.

NEUE FRAGE 38
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?

The rule is built using a value set source.

The source does not return any value; therefore the rule is not displayed.

The rule is built using a line level source.

The rule is built using a custom source.

NEUE FRAGE 39
‘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?

Offsets and Recognition

Deferral and Recognition

Reversal and Recognition

Multiperiod and Recognition

NEUE FRAGE 40
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 thirdparties 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’?

Enable intercompany balancing option

Enable balancing rules

Enable legal entity rule

Enable chart of accounts rule

NEUE FRAGE 41
Where do you define the currency conversion type to be used in converting accountedamount for reporting currency ledger?

Specify Ledger Options

Manage Accounting Attribute Assignments

Manage Reporting Currencies

Manage Subledger Accounting Options

NEUE FRAGE 42
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 sourcecode 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.
How do you calculate discounts for use in the accounting rule?

Use flexfield

Usecustom formulas

Use mapping set rules

Use analytical calculations

NEUE FRAGE 43
What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?

Transaction objects

Event entities

Source objects

Mapping sets

NEUE FRAGE 44
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 inthe 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, ‘NewTrucks’ needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?

Set up multiperiod accounting journal lines.

Set up a transaction line reversal.

Create an adjustment journal entry.

Set up automatic Journal line reversal.

Laden …