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  • Exam Code: 1Z0-1060-21
  • Exam Name: Oracle Accounting Hub Cloud 2021 Implementation Essentials
  • Updated: Sep 04, 2025
  • Q & A: 62 Questions and Answers
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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. Which two can you use to view supporting reference balances?

A) Use Business Intelligence Publisher to build a custom report.
B) Submit the standard Supporting Reference Balances Report.
C) Use the Supporting Reference Balance Inquiry page.
D) Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.


2. You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classificationinformation.
You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

A) Use Supporting References to capture customer classification information.
B) Use the Open Account Balances Listing report that has balances by customer.
C) Use the Third Party Control Account feature.
D) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).


3. 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.


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 forslicing 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 twodates.

A) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
B) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
C) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
D) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)


5. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

A) Accounting Hub Import Duty Role
B) Accounting HubIntegration Duty Role
C) Accounting Hub Create and Post Journal Entry Duty Role
D) Accounting Hub Create Accounting Duty Role


Solutions:

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

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