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

Exam Code: 1Z0-1060-20
Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
Updated: Sep 14, 2026
Q&As: 62 Questions and Answers

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Oracle 1Z0-1060-20 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Accounting Hub Overview	10%	- Accounting Hub Fundamentals 1. Source systems integration 2. Accounting Hub business benefits 3. Subledger Accounting overview 4. Accounting Hub architecture
Topic 2: Reporting and Inquiry	15%	- Reporting Capabilities 1. Accounting Hub reporting 2. Journal inquiry 3. Transaction drill-down 4. Reconciliation reporting
Topic 3: Implementation and Security	10%	- Administration and Security 1. Best practices and troubleshooting 2. Implementation lifecycle 3. Role-based security 4. User management
Topic 4: Accounting Rules and Configuration	30%	- Subledger Accounting Configuration 1. Supporting references 2. Journal entry rules 3. Account rules 4. Accounting methods 5. Mapping sets 6. Description rules
Topic 5: Transaction Processing	15%	- Accounting Processing 1. Transfer to General Ledger 2. Transaction validation 3. Error handling and diagnostics 4. Accounting generation
Topic 6: Source System Integration	20%	- Transaction Data Integration 1. Transaction object configuration 2. Source system registration 3. Source system setup 4. Source data mapping 5. File-based data import

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

Question #1

'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. Recurring Journal class
B. Multiperiod class
C. Accounting class
D. Recognition Journal class

Reveal Solution Discussion 0

Correct Answer: B 🗳️

Question #2

Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

A. Manage Reporting Currencies
B. Manage Subledger Accounting Options
C. Specify Ledger Options
D. Manage Accounting Attribute Assignments

Reveal Solution Discussion 0

Correct Answer: A 🗳️

Question #3

What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
B. provide real-time visibility to financial reports in FAH Reporting Cloud Service
C. upload transaction data into FAH Reporting Cloud Service
D. transfer Balances to FAH Reporting Cloud Service

Reveal Solution Discussion 0

Correct Answer: A 🗳️

Question #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.
How can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?

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

Reveal Solution Discussion 0

Correct Answer: C 🗳️

Question #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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?