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 19, 2026
- Q & A: 62 Questions and Answers
About Oracle 1Z0-1060-20 Exam
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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Implementation and Security | 10% | - Administration and Security
|
| Reporting and Inquiry | 15% | - Reporting Capabilities
|
| Source System Integration | 20% | - Transaction Data Integration
|
| Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
| Transaction Processing | 15% | - Accounting Processing
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
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 set up an account rule that is based on leased and owned trucks?
- A. Set up a mapping set rule.
- B. Set up a value set rule.
- C. Set up a lookup value.
- D. Set up an account source in the source system file and derive the value.
Correct Answer: A 🗳️
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. Set up multiperiod accounting journal lines.
- C. Create an adjustment journal entry.
- D. Set up a transaction line reversal.
Correct Answer: B 🗳️
What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Mapping sets
- B. Transaction objects
- C. Source objects
- D. Event entities
Correct Answer: B 🗳️
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 repotting currency ledger
- C. One primary ledger
- D. One primary, one secondary ledger
Correct Answer: C 🗳️
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- B. Change the transaction data file.
- C. Register it as a new source system.
- D. Add this as a new transaction type into existing registered subledger from the user interface.
Correct Answer: C,D 🗳️
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