Online 1Z0-1060-24 Practice Test

Question 1

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 segmentspecific rules. How will you achieve this while setting up the journal entry rule set?

Options :

A :

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

B :

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

C :

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

D :

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

Answer: A

Question 2

In Functional Setup Manager, if setup data is segmented by a specific context, you can perform the setup task iteratively, such as assigning different ledger options to different primary ledgers. Which action should you take to specify the context?

Options :

A : Select the value for Scope

B : Select the value for Feature

C : Select the value for Lookup Code

D : Select the value for Functional Area

Answer: A

Question 3

Which FOUR actions can you perform with the help of the Security Console?

Options :

A : Manage Automatic Data Provisioning

B : Manage Data Access for Users

C : Manage User Name Generation Rules and Password Policies

D : Manage Password of other Users

E : Create Roles

F : Compare Roles

Answer: C,D,E,F

Question 4

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?

Options :

A :

The source system should be registered again by including the Loan Interest Accrual Reversal event type.

B : A new transaction type cannot be added after the source system is registered.

C : Loan Interest Accrual Reversal can be added as a new event type from the user interface.

D :

Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.

Answer: C

Question 5

Which statement is true about journal entry rule sets?

Options :

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

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

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

Answer: C

EXPERTY DESIGNED 1Z0-1060-24 PRACTICE TEST