Oracle Accounting Hub Cloud 2021 Implementation Essentials : 1Z0-1060-21 Exam

  • Exam Code: 1Z0-1060-21
  • Exam Name: Oracle Accounting Hub Cloud 2021 Implementation Essentials
  • Updated: Oct 07, 2026
  • Q & A: 62 Questions and Answers

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

SectionWeightObjectives
Upload Transaction Data and Adjust Journal Entries10%
Analyze Accounting, Reporting, Audit and Reconciliation Requirements20%
Modeling Considerations10%
Reporting, Auditing and Diagnostics10%
Register and Update Source Systems15%
Configure Accounting Rules20%
Analyze Transaction Type Life Cycle15%

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

Question #1

To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?

  • A. Conversion type
  • B. Conversion date and conversion rate
  • C. Conversiontype and conversion date
  • D. Conversion type, conversion date and conversion rate
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #2

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 sourcecode 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. Initiate Truck Rentals Contract and Pay Truck Maintenance
  • B. Purchase Trucks and Pay Out Trucks
  • C. Pay Insurance and Control Truck Services
  • D. Purchase Trucks and Deploy Trucks
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #3

Which four options are used to reconcile subledger journal entries?

  • A. Run the Subledger Accounting Method Setups report.
  • B. Build a custom OTBIreport.
  • C. Set up reconciliation using the reconciliation reference accounting attribute.
  • D. Tag supporting references with journal entry lines.
  • E. Run the Subledger Accounting Diagnostics report.
  • F. Assign a descriptive text and source on journal lines.
Reveal Solution  Discussion  0

Correct Answer: B,C,D,F  🗳️

Question #4

What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?

  • A. Transaction objects
  • B. Mapping sets
  • C. Source objects
  • D. Event entities
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #5

Which three are mandatory transaction source information?

  • A. Transaction Line
  • B. Distribution Link
  • C. Transaction Date
  • D. Ledger Name
  • E. Transaction Number
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

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