Online Access Free 1z0-1060-24 Exam Questions

Exam Code:	1z0-1060-24
Exam Name:	Oracle Accounting Hub Cloud 2024 Implementation Professional
Certification Provider:	Oracle
Free Question Number:	82
Posted:	Oct 22, 2026

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Total 82 questions

Question 1

Your company 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. While analyzing their source transaction system, you are asked to propose an event model, based on the activities performed by the company.
According to your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

A.Event classes
B.Source systems
C.Event types
D.Journal sources

Question 2

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

Correct Answer:

See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create a Description Rule in Oracle Fusion
Step 1: Navigate to Manage Description Rules
Log in to Oracle Fusion with appropriate privileges for configuring Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage Description Rules.
Step 2: Create a New Description Rule
Click Create to define a new Description Rule.
Enter the following details:
Name: AHC Billing 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 Description: Enter a meaningful description, such as:
"Auto-generated description for AHC Billing transactions."
Click Save, then proceed to define the logic.
Step 3: Define the Description Rule Logic
Under Conditions, define a formula using transaction attributes to generate meaningful descriptions dynamically.
Click Add Condition, then define the description using placeholders.
Example formula:
'Transaction Type: ' || {Transaction Type} || ', Customer: ' || {Customer Name} || ', Amount: ' || {Transaction Amount} This rule constructs a description dynamically, showing:
Transaction Type
Customer Name
Transaction Amount
Example Output:
"Transaction Type: Customer Billing, Customer: John Doe, Amount: $500"
Click Validate to ensure there are no syntax errors.
Step 4: Assign the Description Rule
Navigate to Manage Journal Entry Rule Sets.
Locate the AHC Billing Journal Entry Rule Set.
Assign the newly created Description Rule to the appropriate Journal Line Rule.
Click Save and Close.
Step 5: Validate and Deploy the Rule
Click Validate to check for errors.
Deploy the rule by submitting the changes.
Ensure the rule is attached to the AHC Billing journal entries.
Step 6: Test the Description Rule
Navigate to Subledger Accounting > Accounting Entries.
Generate accounting for different test transactions.
Verify that the journal entry descriptions match the expected format.

Question 3

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?

A.Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method
B.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
C.Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section
D.Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references

Question 4

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

Question 5

SIMULATION
Challenge 1: Manage Journal Line Rule
TASK
Create 2 Journal Line Rule
Interest Receivable
Interest Income
Subledger Application: AHC Loan
Process Category: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment

Correct Answer:

See the Explanation below for all the solution
Explanation:
To create Journal Line Rules (JLR) in Oracle Fusion, follow these step-by-step instructions:
Step 1: Navigate to the Manage Subledger Journal Entry Rule Sets Page
Log in to Oracle Fusion Applications with a user that has privileges to configure Subledger Accounting Rules.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), select:
Financials
Subledger Accounting
Manage Journal Line Rules
Step 2: Create the "Interest Receivable" Journal Line Rule
Click Create to add a new Journal Line Rule.
Enter the following details:
Name: Interest Receivable
Subledger Application: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Account Class: (Choose the appropriate account class, such as "Receivable" or a custom account class) Line Type: Debit Description: (Optional, enter something like "Recognizes interest receivable") Under Conditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 3: Create the "Interest Income" Journal Line Rule
Click Create again to add the second Journal Line Rule.
Enter the following details:
Name: Interest Income
Subledger Application: AHC Loan
Event Class: AHC Loan
Event Type: Loan Origination, Interest Accrual, Payment
Account Class: (Choose an appropriate account class, such as "Revenue" or a custom account class) Line Type: Credit Description: (Optional, enter something like "Recognizes interest income") Under Conditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 4: Validate and Deploy the Rules
Navigate to Manage Accounting Methods.
Find the accounting method used for the AHC Loan subledger.
Attach the newly created Journal Line Rules to the appropriate Journal Entry Rule Set.
Validate the changes and submit them for approval.
Once validated, deploy the accounting method.
Step 5: Test the Journal Line Rules
Navigate to Subledger Accounting > Accounting Entries.
Generate accounting for a test Loan Origination, Interest Accrual, or Payment transaction.
Verify that the correct Journal Entries are created:
Interest Receivable (DR)
Interest Income (CR)

Other Version: 547Oracle.1z0-1060-24.v2025-09-30.q26

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