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

  • Exam Code: Oracle
  • Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
  • Updated: Jun 15, 2026
  • Q & A: 62 Questions and Answers

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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.
How can you meet this requirement?

A) Build a Financial Reporting Studio report that includes all dimensions.
B) Create a Smart View report using the query designer feature.
C) Build an OTBI analysis that includes a relevant subject area.
D) Use either Account Monitor or Account Inspector to get required Information.


2. How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?

A) Unlimited
B) Three
C) Two
D) One


3. Which is an alternate way to implement a mapping set rule?

A) Define a flexfield rule with conditions.
B) Define a chart of account rule with conditions.
C) Define a lookup type rule with conditions.
D) Define an account rule with conditions.


4. '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.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.

A) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)
B) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
C) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
D) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry 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. '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) One primary, one repotting currency ledger
B) One primary, one secondary ledger
C) One primary ledger
D) Two primary ledgers


Solutions:

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

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