1z0-1060-25 by Oracle Valid Free Exam Practice Test

Question 1

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?

A. YYYY-MON-DD B. YY-MON-DD C. DD-MON-YYYY D. DD-MON-YY

Correct Answer: A

Question 2

Your client is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep, in their source system. They want to retrieve the value of the Natural Account segment directly from the source system and are seeking your advice on this requirement.
Which TWO should you factor into your advice on how to register the source system using the spreadsheet template to meet your client requirement?

A. Natural Account should be defined as a "Number" type source B. Natural Account should be defined as a "Long Text" type source C. Natural Account should be defined as a "Text" type source D. Chart of Accounts Value column should be updated with a value of "Yes"

Correct Answer: C,D

Question 3

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

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

Correct Answer: A,C,D

Question 4

You are trying to explain to an accountant that account override is an adjustment feature of Subledger Accounting.
Which TWO traits can help you further explain this feature?

A. It is intended to correct only the subledger journals that have been posted B. It allows users to record a reason for the adjustment C. It provides an audit trail by preserving the original subledger journal entry D. It adjusts the original source transaction

Correct Answer: B,C

Question 5

The cloud client wants to drive an efficient transfer of accounting entries between Subledger Accounting and their General Ledgers. Hence, they are skipping the Post Subledger Journal Entries and Journal Import processes.
Under what three conditions are the improvements to transfer of Subledger Accounting entries to General Ledger enhancement ignored?

A. When the Multiperiod Accounting process is submitted B. When the Create Accounting process is submitted in Final and Post modes C. When online accounting is submitted from the transaction pages D. When accounting is transferred outside of Fusion General Ledger

Correct Answer: A,B,C

Question 6

You design an income statement report with the help of Financial Reporting Web Studio. You add row numbers 3, 4, and 5 to reflect the balances for three different expense accounts and row number 6 to reflect the sum of row numbers 3, 4, and 5.
Which formula should be used on row number 6 to calculate the sum?

A. ([3:5]) B. ([3;5]) C. ({3:5}) D. ([3,5])

Correct Answer: A

Question 7

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?

A. The mappings can be entered only by using the user interface B. One mapping set can be used for only one account rule at a time C. You can define a default output value to use when actual input values do not match the mappings D. You can use up to 10 transaction or reference attributes as input in a mapping E. Mapping sets are unique to each sub-ledger application, in order to know which input sources to make available.

Correct Answer: C,D,E

Question 8

Challenge 3: Manage User Define Formulas
TASK
Create User Defined Formula for Admin Charges
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

Correct Answer:

See the Explanation below for all the solution.
Explanation:
Step-by-Step Guide to Create a User Defined Formula for Admin Charges in Oracle Fusion Step 1: Navigate to Manage User Defined Formulas
* Log into Oracle Fusion with privileges to configure Subledger Accounting.
* Go toSetup and Maintenance.
* In theFunctional Setup Manager (FSM), navigate to:
* Financials
* Subledger Accounting
* Manage User Defined Formulas.
Step 2: Create a New User Defined Formula
* ClickCreateto define a new formula.
* Enter the following details:
* Name: Admin Charges Formula
* Subledger Application: AHC Billing
* Process Category: AHC Billing
* Event Class: AHC Billing
* Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement
* Data Type:Number
* Description: Formula to calculate admin charges for billing events.
* ClickSave, then proceed to define the logic.
Step 3: Define the Formula Logic
Example Formula for Admin Charges:
AssumeAdmin Chargesare calculated as5% of Transaction Amount, with aminimum charge of $10.
* Enter the formula using Oracle's formula syntax:
CASE
WHEN {Transaction Amount} * 0.05 >= 10 THEN {Transaction Amount} * 0.05 ELSE 10 END
* ClickValidateto check for errors.
Step 4: Assign the Formula to the Required Accounting Rules
* Navigate toManage Account Rules.
* Find theAdmin Charges Account Rule(or create one if needed).
* In theCondition Definition, selectUser Defined Formulaas the Source.
* ChooseAdmin Charges Formulaas the value.
* ClickSave and Close.
Step 5: Validate and Deploy the Formula
* ClickValidateto ensure correctness.
* Deploy the formula by submitting the changes.
* Attach the formula to relevantJournal Entry Rule Sets(if applicable).
Step 6: Test the User Defined Formula
* Navigate toSubledger Accounting > Accounting Entries.
* Generate accounting for different test transactions:
* Example 1: IfTransaction Amount = $500, Admin Charges =$25(5% of 500).
* Example 2: IfTransaction Amount = $100, Admin Charges =$10(since 5% of 100 = $5, but the minimum is $10).
* Verify that theAdmin Chargesare correctly derived in accounting entries.

Question 9

The Unified Migration option helps move functional setup data from one instance to another.
Which TWO statements are true about Unified Migration?

A. You can optionally migrate only the new changes if both environments are synchronized B. The Unified Migration option requires registration of the target environment in the source environment C. There is no need to import the migration set into a sandbox instance before it is applied to the target environment D. You need to manually download the configuration set from the source and manually upload it into the target

Correct Answer: A,B

Oracle Accounting Hub Cloud 2025Implementation Professional - 1z0-1060-25 Exam Practice Test