[Q10-Q32] 1Z0-1060-22 Exam Brain Dumps – Study Notes and Theory [Apr-2023]

NO.10 A customer’s business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General LedgerJournal Entry Summarization options meets this requirement?

NO.11 What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?

NO.12 What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

NO.13 A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accountingrules to be shared?

NO.14 What is the key attribute that is used to query journal entries of a registered source system?

NO.15 Which duty role should be assigned to job role to import transaction data for accounting and posting in General Ledger?

NO.16 ‘Insurances for Homes’ company provide home insurance service. 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 premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

NO.17 There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on the entered amounts for the line.
What is the solution to implement this requirement?

NO.18 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?

NO.19 Which four of the following are the mandatory parameters to search for a subledger journal on the Review Subledger Journals Page?

NO.20 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 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. ‘New Trucks’ and’ Fix Trucks’ are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

NO.21 Which four are the components of a Ledger?

NO.22 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 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 set up an account rule that is based on leased and owned trucks?

NO.23 Which role must the user have to import accounting transaction data?

NO.24 What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?

NO.25 What are all the tabs that are available to be completed in the Register Source System spreadsheet?

NO.26 Which tool enables developers to produce real-time information by creating analyses and reports by suing graphs, charts, and tables?

NO.27 A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user’s specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

NO.28 Which tool will you use to review an account group in a graphical format from the Financial Reporting Center?

NO.29 After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?

NO.30 You need to build a complex account rule. Which four value types can you use in your definition?

NO.31 What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

NO.32 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?