Get Jul-2025 updated Exam 1z0-1060-24 Dumps with New Questions [Q34-Q55]

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Get Jul-2025 updated Exam 1z0-1060-24 Dumps with New Questions

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Oracle 1z0-1060-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Analyzing and Creating Financial Reporting Structures and Ledgers: This section measures the skills of Financial Controllers in analyzing configuration requirements for legal entities, financial reporting structures, and ledgers. It includes understanding how to set up these structures to meet organizational needs. A key skill measured is designing effective financial reporting frameworks.
Topic 2	Describing Security: This section measures the skills of Security Administrators in explaining users and role-based access control within financial systems. It covers the security console’s functionality to manage user permissions effectively. A key skill measured is implementing robust security measures for system access control.
Topic 3	Automating Transaction Data with Web Service: This section measures the skills of Data Analysts in automating transaction data loading from spreadsheets or other sources while managing exceptions. It covers techniques for improving data entry efficiency.
Topic 4	Analyzing Transaction Type Lifecycle: This section measures the skills of Financial Analysts and focuses on analyzing and identifying the transaction lifecycle within source systems. It covers the stages from transaction initiation to completion, ensuring all aspects of the lifecycle are understood. A key skill measured is effectively mapping the transaction lifecycle.
Topic 5	Accessing Accounting, Reporting, Audit, and Reconciliation Requirements: This section targets Accounting Professionals and analyzes the requirements for accounting, reporting, auditing, and reconciliation related to transaction types. It emphasizes understanding compliance and accuracy in financial reporting. A critical skill assessed is evaluating audit and reconciliation needs thoroughly.

NO.34 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 Trucks” 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. “New Trucks” and “Fix Trucks” are located in the same country and share a chart of accounts and accounting conventions.
How many ledgers are required to be set up?

One primary ledger

One primary, one secondary ledger

Two primary ledgers

One primary, one reporting currency ledger

NO.35 Which duty role is required to authorize access to the import accounting transactions process?

Accounting Hub Import duty role

Accounting Hub Integration duty role

Accounting Hub Create and Post Journal Entry duty role

Accounting Hub Create Accounting duty role

NO.36 You recently created an analysis to review the periodic revenue amounts using Smart View. Your customer wants to use the drill-through option to get more details about the balances appearing in the analysis.
Which TWO drill-through options would meet the requirement?

Drill to Account Group

Drill to Detail Balances

Drill to Financial Reporting Center

Drill to Account Inspector

NO.37 Your client has operations in both the US and the UK, and they currently use a third-party billing system to process transactions like Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team of the Accounting Hub solution, and they request you to generate a dynamic description based on the following scenario:
“When Invoice Date is greater than or equal to 1st January 2018, concatenate Project Number and Invoice Number else concatenate Customer Name and Invoice Number.” In which format would you enter the date in the user-defined formula to achieve this requirement?

YY-MON-DD

DD-MON-YYYY

YYYY-MON-DD

DD-MON-YY

NO.38 Which statement is true about journal entry rule sets?

Description rules can be assigned at both the header and the line level of a journal entry rule set.

Description rules can be assigned only at the header level of a journal entry rule set.

Description rules can be assigned only at the line level of a journal entry rule set.

NO.39 Which TWO options can you use for reconciling subledger journal entries with the source system?

Submit the Subledger Accounting Diagnostics report

Submit Period Close Exception Report

Tag supporting references with Journal Line Rules

Submit the Subledger Accounting Diagnostics report

NO.40 You are implementing Accounting Hub Cloud for one of your clients. Your client has agreed to have six segments for the chart of accounts: Company, Line of Business, Account, Department, Product, and Intercompany.
For one of the journal line rules, your client requests you to assign a common account rule for Company, Line of Business, Account, and Intercompany. However, for Department and Product, they want to use segment-specific rules.
How will you achieve this while setting up the journal entry rule set?

Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while assigning the accounting method to the ledger

NO.41 You are tasked with identifying the reason for a user from your client organization not being able to submit the job that imports the transaction data for accounting and posting in General Ledger.
You realize that a duty role needs to be associated with a job role for authorizing the access to import the accounting transactions process.
Which duty role would you suggest?

Accounting Hub Import Duty Role

Accounting Hub Create and Post Journal Entry Duty Role

Accounting Hub Create Accounting Duty Role

Accounting Hub Integration Duty Role

NO.42 Your customer needs to generate journal entries for the insurance premium collected from the sale of policies. The different components of the premium collected by the company include Basic Premium and Tax. You decide to set up three separate journal line rules to account for Basic Premium, Tax Amount, and Total Amount.
Which attribute in a journal line rule allows you to classify these three journal entry lines?

Accounting Class

Business Flow Class

Event Class

Rounding Class

NO.43 SIMULATION
Challenge 2: Manage Account Rule
TASK
Create Account Rule with 3 priorities
Name of Account Rule: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

NO.44 The Insurance for Homes company provides home insurance services in the USA, the UK, France, and Italy. It is headquartered in the USA.
The entities in the UK, France, and Italy are subsidiaries of the USA entity.
The company decides to configure four primary ledgers, one each for the USA, the UK, France, and Italy. It also plans to configure three secondary ledgers under the UK, France, and Italy primary ledgers.
Which TWO statements are true about setting up secondary ledgers?

A chart of accounts mapping is only required if a secondary ledger has a different chart of accounts than its primary ledger

Conversion levels available for a secondary ledger are Balance, Journal, Adjustment only, and Subledger

A chart of accounts mapping is always required between the chart of accounts of the primary ledger and the secondary ledger

Conversion levels available for a secondary ledger are Balance, Journal, and Subledger only

NO.45 Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems.
Which implementation setup allows the sharing of accounting rules for all four external systems?

One subledger for all four source systems

Four subledgers, one for each source system

Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan

Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan

NO.46 You are tasked with troubleshooting a Create Accounting error.
What is the first step you need to take to use the Diagnostics Framework features?

Set the “SLA: Enable Diagnostic” 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 Diagnostic report

NO.47 Your client has operations in both the US and the UK. They currently use a third-party billing system to process transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team for the Accounting Hub solution. Your client wants to retrieve chart of accounts values for the line of business segment based on customer classification.
You decide to use the mapping sets functionality to fulfill this requirement.
Which THREE statements are true about using mapping sets?

Mapping sets are unique to each sub-ledger application, in order to know which input sources to make available.

The mappings can be entered only by using the user interface

You can define a default output value to use when actual input values do not match the mappings

One mapping set can be used for only one account rule at a time

You can use up to 10 transaction or reference attributes as input in a mapping

NO.48 SIMULATION
Challenge 4: Manage Description Rule
TASK
Create Description Rule
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

NO.49 Which statement is true about journal entry rule sets?

Description rules can be assigned only at the header level of a journal entry rule set

Description rules must carry the same chart of accounts that is attached to the journal entry rule set

Description rules can be assigned only at the header level of a journal entry rule set

Description rules can be assigned at both the header and the line level of a journal entry rule set

NO.50 The company ‘Insurance for Homes’ provides home insurance services. It has an in-house system that processes home insurance payments received from customers. The end result of the process consists of a list of individual journal entries in a spreadsheet. The company wants to get all journal entries in a secure and auditable repository. Access will be limited to a select few staff members. Additionally, these staff members will need to be able to report and view the entries using an advanced reporting and analytical tool for slicing and dicing the journal entries.
Insurance premium is to be recognized as income across the coverage period of the insurance policy.
Which types of journal lines need to be set up to generate recurring journal entries for insurance premium in each accounting period?

Deferral and Recognition

Reversal and Recognition

Multiperiod and Recognition

NO.51 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?

Import Accounting Transactions Job with Purge Invalid Transaction parameter set to ‘Yes’

Accounting Hub Maintenance Job with Mode set to Purge Invalid or Unaccounted Transactions

Purge Invalid and Unaccounted Accounting Hub Transactions Job

Purge Accounting Hub Transactions Job

NO.52 Your client has decided to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.
Which three are the predefined accounting methods?

Standard Accrual for Japan

Standard Accrual for USA

Standard Accrual

Standard Accrual with Encumbrances

Standard Accrual for China

NO.53 Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?

Chief Financial Officer (CFO)

Financial Analyst

General Accountant

General Accounting Manager

NO.54 Your client provides loans to its customers. You are appointed as a consultant to implement Accounting Hub Cloud to standardize the accounting process. Your customer wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as an input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which TWO options allow the validation of input values on mapping sets?

Chart of accounts segment

Value sets

Segment values

Lookup types

NO.55 You are implementing the Oracle Fusion Cloud Financial Accounting Hub (FAH) service for three legacy Receivables systems. As part of your FAH implementation project, the customer requests that general ledger journals be summarized to keep a thin general ledger as billing in the three source systems is per delivery.
Which two options can be used in FAH to create the requested general ledger journals?

Summarize by journal category

Group by general ledger period

Summarize by general ledger period

Group by general ledger date

Summarize by general ledger date

Summarize by journal source