1z0-1060-24 Exam Learning | Dumps 1z0-1060-24 Torrent
1z0-1060-24 Exam Learning | Dumps 1z0-1060-24 Torrent
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Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions (Q25-Q30):
NEW QUESTION # 25
Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?
- A. Financial Analyst
- B. Chief Financial Officer (CFO)
- C. General Accounting Manager
- D. General Accountant
Answer: C
NEW QUESTION # 26
Your client has implemented the Oracle Cloud Accounting Hub solution and they are importing the transaction data from the source system on a daily basis. While importing the data from the source system, some transactions are not getting accounted properly. They want these invalid transactions purged and the corrected transactions imported again.
Which job would you submit to purge the invalid transactions?
- A. Purge Accounting Hub Transactions Job
- B. Purge Invalid and Unaccounted Accounting Hub Transactions Job
- C. Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions
- D. Import Accounting Transactions Job with Purge Invalid Transaction parameter set to 'Yes'
Answer: C
NEW QUESTION # 27
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 must carry the same chart of accounts that is attached to the journal entry rule set
- D. Description rules can be assigned only at the header level of a journal entry rule set
Answer: A
NEW QUESTION # 28
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. The source system should be registered again by including the Loan Interest Accrual Reversal event type.
- C. Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.
- D. Loan Interest Accrual Reversal can be added as a new event type from the user interface.
Answer: D
NEW QUESTION # 29
SIMULATION
Challenge 1: Manage Journal Line Rule
TASK
Create 2 Journal Line Rule
Interest Receivable
Interest Income
Subledger Application: AHC Loan
Process Category: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Answer:
Explanation:
See the Explanation below for all the solution
Explanation:
To create Journal Line Rules (JLR) in Oracle Fusion, follow these step-by-step instructions:
Step 1: Navigate to the Manage Subledger Journal Entry Rule Sets Page
Log in to Oracle Fusion Applications with a user that has privileges to configure Subledger Accounting Rules.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), select:
Financials
Subledger Accounting
Manage Journal Line Rules
Step 2: Create the "Interest Receivable" Journal Line Rule
Click Create to add a new Journal Line Rule.
Enter the following details:
Name: Interest Receivable
Subledger Application: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Account Class: (Choose the appropriate account class, such as "Receivable" or a custom account class) Line Type: Debit Description: (Optional, enter something like "Recognizes interest receivable") Under Conditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 3: Create the "Interest Income" Journal Line Rule
Click Create again to add the second Journal Line Rule.
Enter the following details:
Name: Interest Income
Subledger Application: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Account Class: (Choose an appropriate account class, such as "Revenue" or a custom account class) Line Type: Credit Description: (Optional, enter something like "Recognizes interest income") Under Conditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 4: Validate and Deploy the Rules
Navigate to Manage Accounting Methods.
Find the accounting method used for the AHC Loan subledger.
Attach the newly created Journal Line Rules to the appropriate Journal Entry Rule Set.
Validate the changes and submit them for approval.
Once validated, deploy the accounting method.
Step 5: Test the Journal Line Rules
Navigate to Subledger Accounting > Accounting Entries.
Generate accounting for a test Loan Origination, Interest Accrual, or Payment transaction.
Verify that the correct Journal Entries are created:
Interest Receivable (DR)
Interest Income (CR)
NEW QUESTION # 30
......
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