100% Free Oracle 1Z0-1060-24 Practice Test Questions

Question 1

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

B : The mappings can be entered only by using the user interface

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

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

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

Answer: A,C,E

Question 2

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 : 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 3

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

A : You need to manually download the configuration set from the source and manually upload it into the target

B : You can optionally migrate only the new changes if both environments are synchronized

C : The Unified Migration option requires registration of the target environment in the source environment

D : There is no need to import the migration set into a sandbox instance before it is applied to the target environment

Answer: B,C

Question 4

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?

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 5

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?

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

Free Practice Oracle 1Z0-1060-24 Exam Questions 2025