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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. What is the key attribute that is used to query journalentries of a registered source system?

A) Journal Source
B) Accounting Date
C) Ledger Name
D) Transaction Date

2. Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

A) Event Type
B) Journal Entry Rule Set
C) Journal Line Rule
D) Event Class
E) Journal Entry

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

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

4. 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 inthe 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, 'NewTrucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?

A) Create an adjustment journal entry.
B) Set up a transaction line reversal.
C) Set up multiperiod accounting journal lines.
D) Set up automatic Journal line reversal.

5. Which three are mandatory transaction source information?

A) Ledger Name
B) Distribution Link
C) Transaction Line
D) Transaction Date
E) Transaction Number

Solutions: