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

  • Exam Code: 1Z0-1060-21
  • Exam Name: Oracle Accounting Hub Cloud 2021 Implementation Essentials
  • Updated: Jun 03, 2026   Q&As: 62 Questions and Answers

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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journalline?

A) Assign a custom formula.
B) Assign an accounting attribute.
C) Assign a line classification or line type attribute.
D) You do not need to do anything additional.


2. A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accountingrules to be shared?

A) One subledger for all 4 source systems.
B) One subledger for the 3 Loan systems and one subledger for Insurance.
C) One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance.
D) One subledger for each source system.


3. 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 andloss 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 lookup value.
B) Set up a mapping set rule.
C) Set up a value set rule.
D) Set up an account source in the source system file and derive the value.


4. What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?

A) Journal Entry Sequence
B) Reporting Sequence
C) Accounting Sequence
D) Document Sequence


5. After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?

A) a Smart View Report
B) a predefined Oracle Business Intelligence Publisher report
C) an Oracle Financial Reporting Studio report
D) an Oracle Transactional Business Intelligence analysis


Solutions:

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

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