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Oracle 1Z0-1060-21

1Z0-1060-21

Exam Code: 1Z0-1060-21

Exam Name: Oracle Accounting Hub Cloud 2021 Implementation Essentials

Updated: Aug 28, 2026

Q & A: 62 Questions and Answers

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Oracle 1Z0-1060-21 Exam Syllabus Topics:

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

Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

Question 1

You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?

A. Submit the Accounting Event Diagnostics process.
B. Run Create Accounting again to generate journal entries for the events that ended in error.
C. Set the "SLA: Diagnostics Enabled" profile option.
D. Run the Accounting Events DiagnosticReport.


Question 2

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


Question 3

A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

A. Run predefined reports and filter the report with the available report parameters.
B. Build a new data warehouse solution.
C. Request support team to download subledger Journal entry data.
D. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.


Question 4

What is NOT included in the minimum required accountingattribute assignments?

A. First Distribution Identifier
B. Distribution Type
C. Second Distribution Identifier
D. Accounting Date


Question 5

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


Solutions:

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

1Z0-1060-21 Related Exams
1z0-1056-23 - Oracle Financials Cloud: Receivables 2023 Implementation Professional
1z1-975 - Oracle Accounting Hub Cloud Service 2017 Implementation Essentials
1Z1-1055 - Oracle Financials Cloud: Payables 2019 Implementation Essentials
1z0-1055-22 - Oracle Financials Cloud: Payables 2022 Implementation Professional
1Z1-1060 - Oracle Accounting Hub Cloud 2019 Implementation Essentials
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