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  • Exam Code: 1Z0-1060-20
  • Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
  • Updated: Jul 19, 2026
  • Q & A: 62 Questions and Answers
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  • Exam Code: 1Z0-1060-20
  • Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
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Oracle 1Z0-1060-20 Exam Syllabus Topics:

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

                          1. You need to build a complex account rule. Which four value types you use in yourdefinition?

                          A) Constant
                          B) Source
                          C) Value Set
                          D) Mapping Set
                          E) Existing Account Rule
                          F) Account Combination


                          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.
                          What do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

                          A) Enable chart of accounts rule
                          B) Enable intercompany balancing option
                          C) Enable balancing rules
                          D) Enable legal entity rule


                          3. Given the subledger journal entry:

                          Note that the first segment is the primary balancing segment.
                          Which statement is True regarding this subledger journal entry?

                          A) It is not balanced by entered currency.
                          B) It is not balanced by entered amounts.
                          C) It appears correct.
                          D) It is not balanced by balancing segment.


                          4. You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
                          What is the possible reason for NOT finding the rule?

                          A) The rule is built using a value set source.
                          B) The rule is built using a custom source.
                          C) The source does not return any value; therefore the rule is not displayed.
                          D) The rule is built using a line level source.


                          5. '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. 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) Reversal and Recognition
                          B) Offsets and Recognition
                          C) Deferral and Recognition
                          D) Multiperiod and Recognition


                          Solutions:

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

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