Online Access Free 1Z1-1019 Practice Test

What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

• A.Accounting Hub Create and Post Journal Entry Duty Role
• B.Accounting Hub Create Accounting Duty Role
• C.Accounting Hub Integration Duty Role
• D.Accounting Hub Import Duty Role

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 can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?

• A.Set up automatic Journal line reversal.
• B.Create an adjustment journal entry.
• C.Set up a transaction line reversal.
• D.Set up multiperiod accounting journal lines.

Which four options are used to reconcile subledger journal entries?

• A.Set up reconciliation using the reconciliation reference accounting attribute.
• B.Run the Subledger Accounting Method Setups report.
• C.Tag supporting references with journal entry lines.
• D.Assign a descriptive text and source on journal lines.
• E.Run the Subledger Accounting Diagnostics report.
• F.Build a custom OTBI report.

'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. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

• A.Deferral and Recognition
• B.Multiperiod and Recognition
• C.Offsets and Recognition
• D.Reversal and Recognition

Which is an alternate way to implement a mapping set rule?

• A.Define a flexfield rule with conditions.
• B.Define a chart of account rule with conditions.
• C.Define an account rule with conditions.
• D.Define a lookup type rule with conditions.