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: Sep 10, 2026     Q & A: 62 Questions and Answers

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Modeling Considerations- Analyze modeling considerations
Topic 2: Transaction Data and Automation- Understand transaction data and automation with web services
Topic 3: Functional Setup and Security- Configure security roles and access
- Use Functional Setup Manager
Topic 4: Accounting Rule Configuration- Configure and analyze accounting rules
Topic 5: Accounting, Reporting, Audit, and Reconciliation- Analyze accounting, reporting, audit, and reconciliation requirements
Topic 6: Transaction Lifecycle- Analyze transaction type life cycle
Topic 7: Reporting and Period Close- Reporting and period close processes
Topic 8: Diagnostics- Perform diagnostic and troubleshooting tasks
Topic 9: Adjust Journal Entries- Manage and adjust journal entries
Topic 10: Source System and Integration- Register source systems and integration options
- Update registered source systems

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

Question #1

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

Correct Answer: B  🗳️

Question #2

What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

  • A. Accounting Unit Commit Size
  • B. Processing Unit Size
  • C. Virtual Machine Processing Size
  • D. Buffer Unit Size
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #3

There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on theentered amounts for the line.
What is the solution to implement this requirement?

  • A. define line description rule with condition
  • B. define user transaction lineidentifier
  • C. define journal line rules with conditions
  • D. define journal entry rule set with condition
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #4

You are explaining to an accountant that account override is an adjustment featureof Subledger Accounting.
Which two traits can help you explain this feature?

  • A. The account override feature adjusts the original source transaction.
  • B. The account override feature provides an audit trail by preserving the original subledger journal entry.
  • C. The account override feature allows users to record a reason for the adjustment.
  • D. The account override feature is only intended to correct subledger journals that have been posted.
Reveal Solution  Discussion  0

Correct Answer: B,C  🗳️

Question #5

A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value thatmaps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

  • A. Download a new transaction data template.
  • B. There is no required action. The mapping addition is complete.
  • C. Activate the accounting method.
  • D. Activate the journal entry rule set.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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