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

Exam Code: 1Z0-1060-20
Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
Updated: Nov 02, 2026
Q&As: 62 Questions and Answers

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Section	Weight	Objectives
Accounting Hub Overview	10%	- Architecture and core concepts - Business benefits and use cases - Subledger Accounting (SLA) overview
Reporting and Inquiry	15%	- Accounting Hub reports and dashboards - Journal inquiry and drill-down - Reconciliation and diagnostics
Implementation and Security	10%	- Role-based access control - Troubleshooting and best practices - Implementation lifecycle
Accounting Rules Configuration	30%	- Event model and event classes/types - Supporting references and accounting methods - Description and journal line rules - Account rules and mapping sets
Transaction Processing	15%	- Transfer to General Ledger - Transaction validation and error handling - Create Accounting process
Source System Integration	20%	- Define transaction objects and attributes - Register source systems - File-based data import and mapping

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

Question #1

What can you override in a completed subledger journal entry?

A. the account
B. the amounts
C. the descriptions
D. the supporting Information

Reveal Solution Discussion 0

Correct Answer: A 🗳️

Question #2

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

Reveal Solution Discussion 0

Correct Answer: D 🗳️

Question #3

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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

A. Two primary ledgers
B. One primary, one secondary ledger
C. One primary ledger
D. One primary, one repotting currency ledger

Reveal Solution Discussion 0

Correct Answer: C 🗳️

Question #4

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

Reveal Solution Discussion 0

Correct Answer: C 🗳️

Question #5

While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?

A. The account rule does not return any valid account value.
B. The account rule is defined with conditions that are not allowing the assignment.
C. The account rule is defined with a different chart of accounts from the journal entry rule set.
D. The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.

Reveal Solution Discussion 0

Correct Answer: C,D 🗳️

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

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Oracle 1Z0-1060-20 Value Pack (Frequently Bought Together)