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: Jul 20, 2026     Q & A: 62 Questions and Answers

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Following are some reference material for actual Oracle 1Z0-1060-20 exam test

Oracle 1Z0-1060-20 Exam Syllabus Topics:

SectionObjectives
Topic 1: Data Integration and Processing- Transaction processing
  • 1. Importing source transactions
    • 2. Accounting entry generation process
      Topic 2: Configuration and Setup- Initial setup tasks
      • 1. Source system configuration
        • 2. Ledger and accounting setup considerations
          Topic 3: Implementation and Administration- Deployment and maintenance
          • 1. Troubleshooting and monitoring
            • 2. Security and roles setup
              Topic 4: Accounting Rules and Mapping- Accounting rule definition
              • 1. Mapping sets and derivation rules
                • 2. Rules-based accounting configuration
                  Topic 5: Accounting Hub Cloud Overview- Architecture and key components
                  • 1. Integration with Oracle Financials Cloud
                    • 2. Accounting Hub Cloud positioning and use cases
                      Topic 6: Reporting and Reconciliation- Financial reporting outputs
                      • 1. Reconciliation processes
                        • 2. Journal and subledger reporting

                          Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

                          1. Given the business requirement in the 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 are the key transaction types mentioned in the use case?

                          A) Pay Insurance and Control Truck Services
                          B) Purchase Trucks and Pay Out Trucks
                          C) Initiate Truck Rentals Contract and Pay Truck Maintenance
                          D) Purchase Trucks and Deploy Trucks


                          2. '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. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

                          A) Recognition Journal class
                          B) Recurring Journal class
                          C) Accounting class
                          D) Multiperiod class


                          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.
                          How do you pass the calculated value for discount amounts in accounting rules to the corresponding journal line?

                          A) Assign it to an accounting method.
                          B) Assign it to an accounting attribute.
                          C) Assign it to a transaction type.
                          D) Assign it to an account rule.


                          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) Truck Type
                          B) Company
                          C) Customer Number
                          D) Transaction Date


                          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) Customer Number
                          C) Currency
                          D) Line Type


                          Solutions:

                          Question # 1
                          Answer: C
                          Question # 2
                          Answer: D
                          Question # 3
                          Answer: D
                          Question # 4
                          Answer: A
                          Question # 5
                          Answer: B

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