Oracle 1Z0-1060-20 : Oracle Accounting Hub Cloud 2020 Implementation Essentials

  • Exam Code: 1Z0-1060-20
  • Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
  • Updated: Sep 29, 2026
  • Q & A: 62 Questions and Answers

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

SectionObjectives
Reporting and Reconciliation- Financial reporting outputs
  • 1. Journal and subledger reporting
    • 2. Reconciliation processes
      Implementation and Administration- Deployment and maintenance
      • 1. Troubleshooting and monitoring
        • 2. Security and roles setup
          Data Integration and Processing- Transaction processing
          • 1. Importing source transactions
            • 2. Accounting entry generation process
              Accounting Hub Cloud Overview- Architecture and key components
              • 1. Integration with Oracle Financials Cloud
                • 2. Accounting Hub Cloud positioning and use cases
                  Accounting Rules and Mapping- Accounting rule definition
                  • 1. Rules-based accounting configuration
                    • 2. Mapping sets and derivation rules
                      Configuration and Setup- Initial setup tasks
                      • 1. Source system configuration
                        • 2. Ledger and accounting setup considerations

                          Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

                          Question #1

                          A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value that maps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
                          After saving the update, what is the next required action?

                          • A. Download a new transaction data template.
                          • B. Activate the accounting method.
                          • C. Activate the journal entry rule set.
                          • D. There is no required action. The mapping addition is complete.
                          Reveal Solution  Discussion  0

                          Correct Answer: D  🗳️

                          Question #2

                          A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
                          Which of the available General Ledger Journal Entry Summarization options meets this requirement?

                          • A. Group by GL Date
                          • B. Summarize by GL Date
                          • C. Transfer in Details
                          • D. Summarize by GL Period
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

                          Question #3

                          In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
                          How can you resolve this challenge?

                          • A. Use a custom formula in a description rule to derive amounts.
                          • B. Use a custom formula in a journal line rule to derive amounts.
                          • C. Use a custom formula in a supporting reference to derive amounts.
                          • D. Use a custom formula in an account rule to derive amounts.
                          Reveal Solution  Discussion  0

                          Correct Answer: B  🗳️

                          Question #4

                          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.
                          What would the typical line information be?

                          • A. Transaction Date
                          • B. Company
                          • C. Customer Number
                          • D. Truck Type
                          Reveal Solution  Discussion  0

                          Correct Answer: D  🗳️

                          Question #5

                          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.
                          What wil the typical transaction information be at the header level?

                          • A. Amount
                          • B. Line Type
                          • C. Currency
                          • D. Customer Number
                          Reveal Solution  Discussion  0

                          Correct Answer: D  🗳️

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