Study with 1Z0-1060-21 Actual Test Questions

Invoices received from a source system need touse a specific account based on 30 different expense types.
However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?

• A. Create a 30 account combination rule with acondition of expense type.
• B. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
• C. Create two journal line rules with a condition of supplier type.
• D. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.

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?

• A. Group by GL Date
• B. Summarize by GL Period
• C. Transfer in Details
• D. Summarize by GL Date

'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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. Offsets and Recognition
• B. Deferral and Recognition
• C. Reversal and Recognition
• D. Multiperiod and Recognition

Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journalline?

• A. Assign a line classification or line type attribute.
• B. Assign an accounting attribute.
• C. You do not need to do anything additional.
• D. Assign a custom formula.

You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.
Which two traits can help you explain this feature?

• A. The account override feature is only intended to correct subledger journals that have been posted.
• B. The account override feature adjusts the original source transaction.
• C. The account override feature allows users to record a reason for the adjustment.
• D. The account override feature provides an audit trail by preserving the original subledger journal entry.