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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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 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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

A) One primary, one secondary ledger
B) Two primary ledgers
C) One primary, one repotting currency ledger
D) One primary ledger

2. In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in an account rule to derive amounts.
B) Use a custom formula in a journal line rule to derive amounts.
C) Use a custom formula in a supporting reference to derive amounts.
D) Use a custom formula in a description rule to derive amounts.

3. Which four options are used to reconcile subledger journal entries?

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

4. Which two actions can you accomplish for a registered source system?

A) Modify the subledger application name as long as there are no pending accounting entries.
B) Revise source Information through the user interface and add more sources.
C) Add new event classes through the user interface.
D) Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.

5. 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 Journal line?

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

Solutions: